The main European stock markets rebound at the start of the week. After the declines of the past eighth in the wake of the outcome of the European elections and President Macron’s decision to vote at the end of the month, the main stock exchanges of the Old Continent open the week under the banner of increases, with the Ftse Mib index which rebounds to 32,903.89 points (+0.73%) after closing the past week with a negative balance of almost 6%.
With the wave of political uncertainty brought about by the French president’s decision, European spreads also came under pressure last week. “The current spread between French and German ten-year government bonds is still far from the peaks reached during the Eurozone crisis in 2012 and similar levels of volatility are certainly not expected for the foreseeable future, even if investors’ eyes remain focused on French politics to study its implications on the markets,” he commented Richard Flax, chief investment officer of Moneyfarm.
Meanwhile today Italian banks remain in the spotlight and are recovering after the slowdown of the last week, with the BTP-Bund spread warming again until it reached the threshold of 160 basis points. Among the best on the list too Leonardo.
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Leonardo and the banks among the best on the list
Among the most penalized in the past week, today the bankers of Piazza Affari are recovering. TAmong the best stands out Banca Popolare di Sondrio and UniCredit which rose by around 1.3%.
Leonardo also rebounds today as he closed the last eighth wearing the shirt with the worst Ftse Mib title of the week. For the Italian defense big, last week the news arrived that negotiations with KNDS for a strategic alliance had stopped. Leonardo announced that, “despite the efforts made, the negotiations with KNDS to define a common configuration for the Italian Army’s Main Battle Tank program and to develop a broader industrial collaboration have been interrupted”.
Meanwhile, today the “Financial Times” published research on the world of defense which shows that groups in the sector are hiring at the fastest pace in recent decades thanks to record orders. The investigation was conducted by the English financial newspaper into the hiring plans of 20 large and medium-sized US and European aerospace and defense companies.
Erg and Nexi on the bottom
The week starts with declines for Erg and Nexi which are losing almost 2% and around 0.9 percent respectively. For the latter title, Reuters’ rumors are under scrutiny, according to which the Spanish company Sabadell has decided to postpone the closing of the sale of its payment activities to Nexi after becoming the target of a hostile takeover by BBVA .
