Stock markets live today | Europe expected to decline sharply after Israel’s retaliation against Iran. It’s super dollar

European stock markets are expected to fall sharply after Israel’s attack on military installations in the Iranian city of Isfahan. The Eurostoxx50 future falls by 1.06%. Wall Street closed the April 18 session with the S&P500 index down 0.2%, the fifth consecutive session of decline. Nasdaq (-0.5%) and Dow Jones (+0.1%). Iranian forces have destroyed some drones, days after Iran launched a retaliatory drone attack on Israel. The United States was not involved, but was warned by Israel before the attack. US futures decline (-0.72% on the Dow Jones and -0.81% on the S&P500). Netflix’s accounts came out after the stock market: profit, revenues and new subscribers were better than expected but the indications for the current quarter are below expectations. And the market did not like the decision to no longer provide, starting from 2025, some metrics on spending per user. The stock lost 4%.

It’s super dollar

The dollar, after Israel’s attack on Iran, strengthens: the euro/dollar exchange rate is worth 1.063 (-0.39%) and gold consequently falls (-0.01% to 2,397 dollars per ounce) , while oil prices start to rise again: WTI +2% to 84.44 dollars and Brent +1.68% to 88.57 dollars per barrel. On the macro front, producer prices in Germany have already been published, decreasing by 2.9% on an annual level in March, after the 4.1% contraction in February. Instead, they rose 0.2% month-on-month, slightly above economists’ consensus of +0.1%. However, retail sales in March in Great Britain remained unchanged, as expected (+0.8% year on year).

There is a wait for S&P’s opinion on Italy’s rating

The BTP/Bund spread is trading at 142.5 basis points awaiting S&P’s opinion on Italy’s rating, currently at BBB with a stable outlook, after the rating agency left its opinion unchanged in November. Pronouncements from Dbrs, Fitch and Moody’s are also expected between next week and the end of May, to which Scope will be added in July. On the supply front, the Treasury announced that next Tuesday, on the occasion of the first of the end-of-month auctions, it will offer up to 5 billion euros of short BTPs and BTPEIs. Ideas on monetary policy could come from the Spring meetings of the World Bank and IMF in Washington, where the president, Christine Lagarde, and the councilors Piero Cipollone and Joachim Nagel will be present for the ECB. In Frankfurt there is no doubt that the rate reduction will start in June, but there are different views on what happens afterwards. The Frenchman, Francois Villeroy de Galhau, has joined other ECB colleagues in supporting a second cut in July, a prospect which, however, the hawks do not agree with.

In Milan, watch out for Unicredit, Banco Bpm, Stellantis, Saipem, Prysmian, Tim, Generali and Rai Way

On the Milanese list, pay attention to Unicredit after the ECB reported the potential risks deriving from a high level of managerial turnover at the institution as part of the feedback that the supervisory authority provides to the banks in the overall assessment of their risk management measures. Furthermore, it emerged that Jefferies Financial Group, as of 11 April, held an overall stake in Banco Bpm of approximately 5.4%, of which 1.08% was potential through call options and securities lending and the remaining 4.35% through other long positions.

Read also:

• Bond, from Unicredit an issue with a minimum denomination of 10,000 euros which offers 9.4% for the first two years. How does it work
• Banco Bpm, CEO Castagna: the share has not yet expressed its full potential. This is why Dbrs improves the trend to positive

While Vivendi, Tim’s largest shareholder, filed a complaint with the French financial market supervisory body AMF on an alleged information asymmetry between the market and the board of directors on the health and debt of the telecom giant, after the collapse of the stock at Piazza Affari on March 7th.

Generali has launched a new organizational structure to reflect the group’s two core businesses, insurance and asset management, appointing Woody Bradford, current CEO and president, at the helm of Generali Investments Holding, which will supervise all the group’s asset management activities at a global level. of Conning Holdings.

As for the new board of directors elected by the Prysmian shareholders’ meeting, the appointment of Massimo Battaini as new CEO and general manager was made official. Francesco Gori has been appointed as the new president, while the former CEO, Valerio Battista, is the vice president. HSBC raised the target price on the stock from 51 to 53 euros. Watch out for Rai Way because Rai could sell a share of around 15% of the tower company, taking advantage of an initial window between May and June.

Read also:

And if Stifel cut its recommendation on Saipem from buy to hold with a target price revised upwards from 2.10 to 2.30 euros, Goldman Sachs intervened on Stellantis, raising the target price from 27 to 28 euros. (All rights reserved)