EU baggage with the handbrake on. Saipem takes off in Milan | EUROtoday

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(Il Sole 24 Ore Radiocor) – European inventory markets with the handbrake on, with Asia down, regardless of the brand new report of the Nasdaq on Wall Street. So the FTSE MIB in Milan is down, however the CAC 40 in Paris, the DAX 40 in Frankfurt, the IBEX 35 in Madrid, the AEX in Amsterdam and the FT-SE 100 in London are additionally down.

The focus is on Nvidia's quarterly report coming Wednesday on the one hand and on the Federal Reserve on the opposite, after a number of members of the US central financial institution confirmed warning on the following strikes. The wait is for the minutes of the final assembly, which will probably be launched on May twenty second, to return to hypothesizing what the timing of potential cuts may very well be this 12 months, with the markets a speculation of a 25 level minimize primarily based in November. Numerous interventions by Fed members are scheduled.

Saipem rises, Generali falls after the accounts

On the Milanese inventory market, comply with Saipem which introduced three new contracts in Angola value 3.7 billion {dollars}, and Generali after the primary quarter accounts. The group recorded a normalized internet revenue of 1.1 billion (-9%). The outcome would have elevated by 8% excluding the non-recurring revenue made in the identical interval final 12 months from the sale of a property in London. Operating revenue rose to 1.9 billion (+5.5%). In specific, life internet inflows returned to constructive at 2.3 billion, solely pushed by the pure threat and well being and unit-linked traces, consistent with the group technique. Unipol continues to be among the many finest, awarded on the eve of Berenberg, whereas the banks transfer in no specific order. Stellantis down, utilities weak.

Euro little moved, gold falls again from the highs

On the forex, the euro-dollar is little moved at 1.0862, whereas gold falls from the historic highs of the day earlier than and is traded down 0.5% at 2,414 {dollars} per ounce within the spot contract.
The worth of oil is falling which is affected by the warning relating to the Fed's subsequent strikes: Brent drops 0.6% to 83.16 {dollars} a barrel. The worth of European pure gasoline in Amsterdam rose to 31.89 euros per MW (+0.3%).

Spread under 130 factors, yield secure at 3.81%

Slightly rising pattern for the unfold between BTp and Bund. The yield differential between the benchmark ten-year BTp (Isin IT0005560948) and the German equal maturity stood at 129 foundation factors, up one level in comparison with the earlier shut. The yield of the benchmark ten-year BTp was secure, standing at 3.81%, unchanged in comparison with the closing on the day earlier than.