(Il Sole 24 Ore Radiocor) – In one wake red closureThe European stock exchanges They are moving higher, supported by Good performance for some quarterly reports But the climate remains cautious, with cases increasing in China worrying the market about possible new generalized lockdowns. Beijing has announced mass tests on residents of the capital, with the specter of a lockdown that has already hit Shanghai a month ago worrying investors. On the other hand, investors who appreciate the commitment of the Chinese central bank to support the economy. Concerns remain in the background about the crisis in Ukraine, as resolution of the dispute appears far away, and next steps by the Federal Reserve. Technicians in the spotlight then Twitter accepted the $44 billion offer by Elon Musk.
Central banks remain under special supervision
Analysts assert that “the severity of the situation in China risks slowing growth, not only in light of the size of the economy directly, but also indirectly by intensifying supply chain problems on many products (already severely affected by the war)”. From MBS Capital Services. Despite this, central banks “continue to receive indications directed towards a rapid normalization of monetary policy (the latest being the European Central Bank which, in the absence of unusual short-term events, is likely to raise interest rates already in the first part of the third quarter)”. In addition to the Bank of Japan, the exception remains China (PBoC) which has confirmed its desire to provide greater support to the economy, helping to stabilize markets.
Accounting season for major European banks has begun
After the US banks, it is time for the numbers of the major European banks, as the Eurostoxx sector is witnessing a sharp rise. UBS reported positive numbers with its best first quarter in 15 years. Better than expected also Spanish Santander accounts with the well-purchased title in Madird. On the other hand, Europe’s largest bank HSBC was weak despite lower-than-expected profits by investors, but with the bank declaring that a buyback is unlikely for 2022 due to economic weakness and inflationary pressures. In the next few days, Credit Suisse, Deutsche Bank, Barclays and more will arrive.
In Milan, the banks are in no particular order, highlighting the facilities
The FTSE MIB Swinging at the threshold of 24 thousand points, in the first place is Campari, Interpump Group and Telecom, following the Vivendi Association, during which full support was given to the management of Telecom Italia The industrial plan is under preparation and defined as “ambitious”. Also positive day for facilities (A2aAnd italgas And outside the main price list, ghats). in layout Unicredit And IVECO Groupawaiting calculations, while Stmicroelectronics It fluctuates around parity on the eve of first-quarter results, which analysts say will be positive. It is worth noting, among the secondary titles, is Gathering Beghellistopped in the volatility auction when it rose more than 11%.
Energy stocks, which initially failed to attempt to recover, are reeling in the wake of crude oil prices, which in turn changed direction several times during the session after sharp declines on the eve of the session. I’m looking for the ideas of Eni, Saipem and Tenaris.
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