Stock exchanges ahead of the momentum awaiting US inflation. In Milan, the danger to Generali is renewed

(Il Sole 24 Ore Radiocor) European stock exchanges are on the rise, as US inflation stimulates investors’ attention. The focus is on price direction to understand how aggressive the next moves will be by the Fed, after a 50 basis point rise and the market expects two more increases, always by half a percentage point, even if a more aggressive move is unlikely. US consumer pricesAccording to analysts, they should have passed the peak and the forecast is a monthly figure of +0.2% in April after +1.2% in March, with an annual rate of 8.1% down from the previous 8.5%, the highest since 1981.

Meanwhile, all European indices rose, notably FTSE MIB in Milan, CAC 40 in Paris, DAX 40 in Frankfurt, FT-SE 100 in London, IBEX 35 in Madrid and AEX in Madrid. Amsterdam. Meanwhile, Asian stock exchanges recovered from two-year lows, as China announced the cancellation of new Covid cases in Shanghai. In China too, inflation is increasing with consumer prices rising 2.1% year-on-year, which is higher than expectations, mainly due to food prices, while producer prices are up 8%. Energy interest is also growing after Kyiv stopped Russian gas in the Donbass.

In Milan, the danger to Generali is renewed

On stocks, always focus on the quarterly reports. In Milan, eyes were focused on the Mediobanca with moves on the Generali at the center of attention. File on the table, which states that Mediobanca will leave Generali in favor of an asset management deal with three potential targets: Banca Mediolanum, Banca Generali and Azimut. It is a plan according to sun 24 hours, would restore peace between the shareholders after the battle for the Lion of Trieste. The purchases also reward Unicredit among the best in the Ftse Mib, Banca Mediolanum is also doing well after accounts as well as Pirelli & C and Banca Pop Er, already on the eve of the best with a rise of more than 10 points, and Davide Campari. Leonardo – Finmeccanica and Saipem recovered.

Spread back to 200 pips, return 3.02%

The upside of the BTp and Bund spreads back to the 200bps limit. The yield differential between the ten-year BTp benchmark (Isin IT0005436693) and the German term itself is indicated at 200 basis points, which is three points more than the previous close of 197 basis points. The return on the Italian benchmark index for ten years was stable, at 3.02%, the same level as the last benchmark.

Oil goes up, gas price goes down

Energy interest is also growing after Kyiv stopped Russian gas in the Donbass. Currently, gas prices are down 0.5% to €98.3 per megawatt-hour. Oil prices rose after falling in the past two sessions, with Brent crude rising 2.8% to $105.35 a barrel while West Texas Intermediate crude rose 2.9% to $102.66. In the currency market, the euro rose slightly in anticipation of US inflation and traded at $1.0541 (from 1.0538 yesterday at the close) and 137.28 yen (137.31).

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