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(Il Sole 24 Ore Radiocor) – Cautious upward trend for European stock markets with energy, industry and retailers among the liveliest sectors. Last week saw Piazza Affari and Madrid gain 2% thanks to the performance of banking stocks, and on Wall Street the Dow Jones closed above 40 thousand points for the first time.
The main European stock indices show increases of around 0.2-0.3%, while Piazza Affari retreats due to the ex-dividend of coupons: in fact, 21 of the 40 big names of the Ftse Mib trade ex-dividend and the operation weighs on the main index for 1.42%. Net of this impact, the FTSE MIB index is essentially in balance.
On the macroeconomic front, no major data is expected today, while during the week key data from the United States, Europe and the United Kingdom will share the stage with a series of decisions by Asia-Pacific central banks, with the timing of rate cuts of interest that remains in the foreground. Investors will continue to scrutinize Eurozone economic data for confirmation that the ECB will begin cutting rates in June, as expected, and will look for evidence of the economy’s gradual recovery.
“The generalized euphoria persists on the financial markets, with the main global stock markets having reached new historic highs for the umpteenth week – is the comment from ActivTrades at the beginning of the week – Risk appetite is back in fashion following the data down in the United States, which should help the Fed to ease monetary policy in the coming months, even if, at this stage, FOMC representatives continue to insist that inflation is not yet defeated. However, investors are confident that there will not be a recession but a slowdown which will still allow rates to be revised downwards in the near future.”
Weak banks, good oil and Tim
On the Milanese stock market, the initial rise in the banking sector did not last long: Banca Popolare di Sondrio, Banco Bpm, Bper and Unicredit – which in any case does not seem to be affected by the seizure of assets for 463 million in Russia – are among the weakest of the Ftse Mib affected from profit-taking given that the sector is at its highest level for over a decade. On the other hand, the oil companies with Saipem, Eni and Tenaris are in the spotlight, supported in the first phase of negotiations by the trend of crude oil with the growing tensions in the Middle East fueled by the death of the president of Iran Ebrahim Raisi after a helicopter accident. Unipol is the best and also takes advantage of a positive recommendation from Berenberg, Telecom Italia goes up. Utilities are still highlighted.
Dividend day in Milan: 21 detach the coupon in the Ftse Mib
There are 21 big Ftse Mib companies trading ex coupon. In detail these are A2a (0.0958 euro dividend distributed), Amplifon (0.29 euro), Azimut (1.36 euro), Bper (0.3 euro), Banca Mps (0.25 euro), Pop Sondrio (0.56 euros), Brunello Cucinelli (0.91 euros), Diasorin (1.15 euros), Eni (0.23 euros), Erg (1 euro), FinecoBank (0.69 euros), Generali (1 .28 euros), Interpump Group (0.32 euros), Intesa Sanpaolo (0.152 euros), Inwit (0.479626 euros), Italgas (0.352 euros), Mediobanca (0.51 euros), Moncler (1.15 euros) , Recordati (0.63 euros), Unipol (0.38 euros), Tenaris (0.368868 euros).
