The race for the Unicredit spread stops, quarter in red

2020-05-06T07:51:08.408Z

There is expectation for the European Commission's economic forecasts, which will be announced today, one day earlier than expected. Yesterday, the ruling of the German Constitutional Court dominated the markets, which gave the ECB three months to demonstrate the proportionality of past government bond purchase programs with respect to the objectives of the treaties. Otherwise the Bundesbank will have to cease participating in the Qe. The BTP / Bund spread yesterday rose from 232 to 248 basis points. At the start a slight drop, at 247 points. Yesterday, European stock exchanges were supported by rises in oil prices. Today start down in the share prices: Ftse Mib -0.35%, London + 0.1% ,, Frankfurt -0.2%. Paris -0.45%. Banks (-0.7%) and oil stocks (-0.8%) are down in Piazza Affari after yesterday's run. Best Prysmian and Aplifon stocks, higher declines for Tenaris and Cnh Industrial. Unicredit also fell by 0.6%, after the presentation of the quarterly report in which it reported a loss of 2.71 billion euros. Accounts of Enel and Bper Banca expected on the same day. Yesterday for FCA the quarterly report showed a loss of 1.7 billion (500 million the loss of the adjusted net result). On the other hand, the first three months of Intesa Sanpaolo were positive: profit of 1.150 billion euros. Positive Asian markets overnight, in the wake of yesterday's successful close on Wall Street. The Hong Kong and Seoul indices rose by more than 1.5 percent. + 0.60% for Shanghai, Tokyo still closed for holidays. On the New York market, once again the best result is the Nasdaq, + 1.13%, an index that is only one and a half points below the levels at the beginning of the year.