The main European markets confirm the rise with the US indices in positive territory. In the background there is the question of rates on the day in which Fed President Jerome Powell takes the floor again, after having announced last Friday a postponement of the cuts initially expected in the summer. However, the ECB's choices could be different in light of more convincing macro data compared to those in the USA, with inflation falling by 2.4% in the Eurozone in March.
The best in Europe is Madrid (+0.6%), followed by Frankfurt (+0.31%), Paris (+0.22%) and Milan (+0.15%), while London (-0.12%) is confirmed to be decreasing. The spread between German 10-year BTPs and Bunds rises to 148.5 points, with the Italian annual yield growing by 7.4 points to 3.9% and the German one by 2.9 points to 2.42%. The dollar fell to 0.92 euros, stable at 0.79 pounds.
The rise in crude oil (WTI +0.62% to 85.69 dollars per barrel) supports the oil companies TotalEnergies (+0.76%), Shell and Eni (+0.63% both). In the field of energy infrastructure, Tenaris (+1.42%) and Subsea7 (+0.9%) rise, while Saipem is more cautious (+0.35%). Purchases of Fineco banks (+5.4%), driven by JpMorgan analysts, Commerzbamnk (+4.69%), Sabadell (+3.85%), Bper (+2.33%), Banco Bpm (+2, 12%), NatWrest (+1.83%), Bnp (+1.8%), Bps (+1.78%), Intesa (+1.46%), Unicredit (+1.37%) and Mps (+0.87%). Volvo (-3.54%), Stellantis (-2.57%) and Ferrari (-1.3%) were weak in the aftermath of the car sales data. In contrast, BMW (+3.7%), Porsche (+3%) and Volkswagen (+2.04%)
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