The week will also feature meetings from seven of the world's major central banks, including the Fed, ECB, Bank of England, and Bank of Japan. Regarding interest rates, given the heavy uncertainties, the watchword for everyone will be "wait-and-see," according to several analysts.
Meanwhile, around 9:20 a.m., Brent crude is trading up 3% at 106.18 euros, while Nymex crude has surpassed 100 dollars per barrel.
Around 9:30 a.m., the Ftse Mib index is down 0.51%.
Two major stories are monopolizing investor interest on the Italian stock exchange today. The first is the definitive agreement reached between AMPLIFON and Denmark's GN Store Nord for the acquisition of the entire Hearing business through a combination of shares and a cash component. The transaction values GN Hearing at approximately 2.3 billion euros on a cash and debt-free basis. The stock is performing poorly, shedding 7% after hitting new lows since February 2017 at 9.46 euros. According to one analyst, the valuation is not cheap and implies a significant business shift for the group.
The other news is the launch by UNICREDIT of a voluntary public exchange offer for COMMERZBANK aimed at exceeding the 30% threshold required by German regulations, without, however, acquiring control. The exchange ratio is expected to be 0.485 UniCredit shares for each Commerzbank share, corresponding to a price of 30.8 euros per Commerzbank share, or a 4% premium over the March 13 closing price. In Piazza Affari, the Milanese bank's stock is down 1.7%, while the German bank's stock is up 3.89% at 30.74 euros.
In general, the banking sector is losing 0.6%, with INTESA at -0.6% and Mps and MEDIOBANCA seeing slight gains.
STM is well-supported, advancing 1.5%, along with FINCANTIERI at +1.4%.
(Giancarlo Navach, editing Claudia Cristoferi)
