Friday without major tremors for Avary yard which partly follows the fresh rally on Wall Street. The Ftse Mib Index closed 0.37% at 24,636 points. Today Wall Street is confirming the positive tone of the past few sessions and is about to end the first positive week after a long series of declines. Positive sentiment fueled by quarterly reports that beat expectations of Chinese giants Alibaba and Baidu, as well as by deflationary inflationary pressures. Core PCE, the Fed’s preferred core inflation number, rose 4.9% year over year in April, in line with expectations and slowed from +5.2% in March. Good indicators also jumped from US consumer spending to +0.7% in April and setting the conditions for strong GDP growth in the second quarter.
On the Piazza Afari saloon, CNH performed well (+3.15%). Mixed banks (+0.45% UNicredit, -0.8% Banco BPM, -0.22% Intesa) with Equita analysts anticipating a positive side to the sector from higher interest rates. sim Milanese confirms purchase on 4 banks of Ftse Mib (Intesa, Unicredit, Banco BPM and Mediobanca).
Today’s problem is Saipem Invce (-0.5%) after rising more than +8% on the eve. Marathon Asset Management increased its stake in Saipem to 5.177%. Additionally, in a 50/50 joint venture with Clough, it has reached an agreement with Perdaman to develop a plant in Western Australia worth approximately $2.7 billion.
Facilities were also poor, dropping 2.6% for Terna and -1.33% for Sanam. And finally -1.98% for Generali on the day of the sudden exit from Francesco Gaetano Caltagirone’s board. A step that revives the dispute on the ruling front.
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