Stock exchanges in the green; good buying with Stellantis

(Alliance News) - Piazza Affari marks a bullish path at Tuesday's opening after the long Easter weekend. Meanwhile, trading rooms weighed digested the latest U.S. employment report showing a still tight labor market and confirming expectations of a 25 basis point rate hike by the Federal Reserve in May.

Among Friday's macro news, the U.S. Labor Department report showed nonfarm payrolls increased by 236,000 jobs in March, approaching expectations of 239,000. The unemployment rate also fell to 3.5 percent from the forecast of 3.6 percent.

In the CME Group platform's FedWatch Tool, using futures also based on the actual federal funds rate, or EFFR, the headline rate hike for the May 3 meeting has a 29% probability predicted for confirmation in the 475/500 bps range. In contrast, the probability of an increase in the 500/525 bps area, an increase equivalent to 25 bps, is at 71%. The current target is between 475 and 500 bps.

Consumer price inflation in China fell below 1.0 percent in March, official data showed Tuesday, reflecting weak demand as the World's second-largest economy tries to recover from the crisis caused by the pandemic. The March consumer price index, the main indicator of inflation, stood at 0.7 percent, down from the 1.0 percent recorded a month earlier, according to the country's National Bureau of Statistics.

Thus, the FTSE Mib is up 0.7 percent to 27,397.06.

In Europe, London's FTSE 100 is advancing 0.5 percent, Paris' CAC 40 is in the green by 0.8 percent, and Frankfurt's DAX 40 is advancing with 0.7 percent.

Among the smaller lists, the Mid-Cap is in the green with 0.4 percent to 47,714.42, the Small-Cap is up 0.3 percent to 29,918.01 while Italy Growth is in the green with 0.6 percent to 9,452.03.

On the main list in Piazza Affari, Stellantis is off to a good start, advancing 3.0% to EUR16.74 per share.

High quarters also for CNH Industrial, which rises 2.9%. The company reported that subsidiary CNH Industrial Capital completed its USD600 million bond offering, with a coupon of 4.550% and maturity in 2028, with an issue price of 98.9%. Net proceeds from this offering were approximately USD588 million, after payment of the offering and other related expenses.

Saipem, on the other hand, gains with 2.8 percent to EUR1.47, taking its assets on a monthly basis over 18 percent.

Among the few negative notes is Inwit, which retreats with 0.6 percent. It is worth noting that the stock is up more than 32% since the beginning of the year.

On the Mid-Cap, Seco advances 2.2% to EUR5.17 per share, with active trend also on the weekly with 6.4%.

Sanlorenzo, on the other hand, gathers 2.3%, bringing the price to EUR40.60 per share after a 2.0% loss in the last session.

Intercos, on the other hand, rises 2.3% to EUR14.46 per share, positioning itself for the third bullish session in a row.

Sales prevail, among the few bearish, on Webuild, which retreats 0.6 percent closing the list.

On the Small-Cap, Eems is picking up 4.9%, with price at EUR0.0538.

Also among the best is SS Lazio, which is advancing 4.4%, although on the weekly it scores just below par.

Ratti, on the other hand, picks up 3.8%, following up Thursday night's flat close.

On the SME list, however, double-digit bullish - over 11 percent - for Bellini Nautica, which thus takes the price to EUR2.48.

Go Internet, on the other hand, advances 4.1%, with price at EUR0.1775 and weekly marking a plus 8.2%.

First positions also for Convergenze, which with a green of 3.5 percent floats the price to the EUR2.36 area.

At the tail end, among the few on a negative note, Gibus is giving up 5.0% to EUR13.20 per share.

In New York on the European night, the Dow closed up 0.3%, the Nasdaq gave fractionally, and the S&P 500 picked up 0.1%.

Among currencies, the euro changed hands at USD1.0894 versus USD1.0924 at Thursday's close. In contrast, the pound is worth USD1.2414 from USD1.2450 on Thursday evening.

Among commodities, Brent crude is worth USD84.83 per barrel versus USD85.04 per barrel on Thursday evening. Gold, meanwhile, trades at USD2,000.14 an ounce from USD2,010.84 an ounce at yesterday's close.

On Tuesday's economic calendar, at 1030 CET, the European Sentix index of investor confidence will be released followed by Eurozone retail sales.

At 1200 CET, the UK mortgage rate will be released along with the US small business optimism report.

On Tuesday, Neurosoft's results are scheduled to be released on the stock market.

By Maurizio Carta, Alliance News reporter

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