Today’s stock markets, May 7th. Bank accounts exceed market expectations. Btp Valore, second day: exceeded 2 billion

MILAN – The boost to banks’ profits generated by the rise in interest rates has not yet exhausted itself, not even with the cuts in the cost of money planned by the ECB for the month of June. This is certified by the financial statements published in bursts throughout the day among European credit institutions.

Unicredit beat estimates in Italy and thus improved targets for the entire financial year; Mps recorded a +41% in profits, exceeding the consensus; Also Ubs in Switzerland it returned to profit in the first quarter, clearly beating analysts’ expectations, starting to enjoy the benefits of the acquisition of Credit Suisse.

The markets are taking note and moving vigorously in Europe, despite the decline in orders for German manufacturing. In the background, the question regarding central banks and in particular when the Fed will cut interest rates. In recent sessions, after the data on the US labor market was less strong than expected, the hope has returned that the cut will be sooner rather than later, while the latest comments from governor Thomas Barkin of the Richmond Def have made it clear that he expects high rates up to a greater slowdown in the economy to have greater confidence in reaching the 2% inflation target.

Asian shares moved in a positive direction precisely by taking advantage of the good momentum of Wall Street, which is moving positively in the wake of last Friday’s employment data. Also in favor of Tokyo stock prices decline in the yen: the Nikkei, which remained stagnant yesterday, recovered and gained 1.6%.

The petrolium Meanwhile, it is back on investors’ radars with the worsening of tension on the war fronts. The Israeli rejection of the proposed ceasefire for Gaza has put Brent on the rise again for the second day in a row. The reference for European crude oil is moving this morning in the $83.5 area, after having lost around 6 percentage points last week due to the easing of tensions.

Key points

11.44am

Campari rises on the stock market after the growth in profits

2.38pm

EU stock markets remain on the rise

Stock markets in Europe are set to close their third consecutive session on the rise, supported by strong corporate earnings. London (+1.01%) marks another record, supported by Shell (+1.5%) and Glencore (+2.4%). Paris gains 0.35%, Frankfurt 0.58%, Madrid 0.8% and Milan 0.55 percent.

2.37pm

The BTP Value over 2 billion

Subscriptions for the fourth edition of Btp Valore exceed two billion euros, halfway through the second day of placement. Demand for the Treasury security stands at 2.1 billion euros and contracts amount to 74,103. The issue, expiring in May 2030, provides quarterly coupons and annual minimum guaranteed rates of 3.35%, from the first to the third year, and 3.90%, from the fourth to the sixth year, and a final premium of 0, 8% of the invested capital.

1.35pm

EU stock markets continue to rise

European stock markets continue to rise on a day without any particular macroeconomic insights in which attention is focused on company quarterly reports. Paris advanced by 0.40%, Frankfurt rose by 0.65% and London recorded an increase of 1.03%. Milan marks a +0.61%.

12.33pm

The quarterly reports push Piazza Affari

The Milan Stock Exchange expands its gains strengthened by the positive quarterly results of its ‘big’ companies. The Ftse Mib gains 1.17% and Campari (+5%) and Unicredit (+3.24%) stand out on the list. Amplifon (+2.55%) continues to benefit from the good performance of the day before and St (+3.8%) follows in the wake of the German Infineon (+11%).

12.18pm

Btp Valore, orders at 1.5 billion on the second day

The demand made by small savers on the second day of placement of the BTP value stood at just under 1.5 billion euros. Approximately 50 thousand contracts have been signed so far.
Yesterday, on the first day of the offer, retail demand reached 3.7 billion euros against over 121 thousand advanced orders. Last February, on the second day of offering of the previous issue, total requests at the end of the day stood at 4.6 billion.

11.44am

Campari rises on the stock market after the growth in profits

Campari has published its first quarter accounts, appreciated by the market judging by the +4% recorded mid-morning. The beverage group closed the first quarter with a gross profit of 145 million, an increase of 8.6% on the same period of 2023. Among other data, net sales amounted to 663.5 million with organic growth of + 0.2% and total of -0.7% including a perimeter effect of +0.6% led by third-party brands in distribution. The adjusted operating result amounted to 151.5 million, with an organic change of -2.3% and a total change of -4.9%. The adjusted gross operating margin amounted to 181.1 million, 27.3% of sales, with an organic change of +0.6% and a total change of -1.7%. Campari, a note said, recorded a resilient performance in the first quarter of 2024, in light of the expected unfavorable comparison base, in a quarter with low seasonality. Organic net sales growth was primarily driven by the continued strength of aperitifs, especially Campari and Aperol, despite the unfavorable comparison base. CEO Matteo Fantacchiotti commented: “We started the year once again with momentum and resilient performance in a low seasonality quarter and despite the expected unfavorable comparison base. Our outlook remains unchanged.”

11.42am

Positive Piazza Affari, Unicredit rises and Iren falls

In Piazza Affari, which is traveling in positive territory, the Iren stock is in sharp decline and drops 3.29%, to 1.823 euros, after having sunk to 1.76 euros in the morning. Sales on the stock fell after the CEO, Paolo Emilio Signorini, was arrested and subjected to precautionary custody in prison in the investigation by the Genoa prosecutor’s office into alleged corruption also to the advantage of the president of Liguria, Giovanni Toti, for unlock building practices and concessions. The Milan Stock Exchange continues to rise and gains 0.99% to 34,321 points. Among the major increases on Piazza Affari Unicredit: +3.29% after the accounts in which the banking group recorded a net profit of 2.6 billion euros in the first quarter of the year, up 24% on an annual basis.

11.42am

Iren: “Business continuity procedures have been launched”

“Iren learned this morning from the press of the application of an order of precautionary measures against the CEO Paolo Signorini ordered by the Judicial Authority of Genoa. The crimes contested and reported in the press release of the Public Prosecutor’s Office of Genoa are reported to his previous role as President of the Port System Authority of the Western Ligurian Sea and would therefore not concern Iren. The Group has already activated the procedures necessary to immediately guarantee full business continuity”. Iren communicated this in a note.

10.36am

Hong Kong, weak closing

Mixed Asian stocks at the end of the session. The Hong Kong market closed with a loss, ending a streak of 10 consecutive gains, with the Hang Seng index falling 0.53% to 18,479.37 points. On the Chinese stock exchanges, however, in Shanghai the Composite index rises by 0.20% to 3,147.74 points, while Shenzhen on the second Chinese stock exchange gains 0.24% to 1,796.77 points.