BancaMarch: On Thursday, potential tax hikes in France were discussed, this Friday it is the turn of Italy. In the Gallic country, the Budget Minister has given more details on temporary taxes on higher-income taxpayers and large companies – already announced on Monday by Barnier and on Wednesday by Macron. In the first case, he indicated that they would affect only 0.3% of households, those without children who earn more...

Intermoney: Transalpine industrial production left a bad taste in the mouth in April, falling -1.9% month-on-month and -7.2% year-on-year. The secondary sector accounts for 16.2% of Italy’s GDP, so it is bad news that there was a generalised contraction in practically all the items, with a particular focus on the -2.1% m. in manufacturing activity. Moreover, the fall was especially visible in the production of base metals and materials, when...

Renta 4 : European markets open higher (Eurostoxx futures +0.5%), with the markets on hold ahead of the inflation data due on Thursday and Friday in Europe and the US, which will determine the extent to which central banks will have to continue to raise interest rates. Meanwhile, the most advanced cycle indicators (German IFO, US Conference Board consumer confidence) show a better than expected performance in March, although the...

Intermoney | The Italian government has decided not to oppose the bid launched for Atlantia by the Benettons and Blackstone, according to the daily Cinco Dias. In theory, the Italian executive could have invoked the special powers it still has over Atlantia and other strategic sectors. However it has declined to do so. The price of the bid is 23 euros in cash, which values the concessionary at some 19...

Annalisa Piazza (MFS IM) | The outcome of the Italian Presidential election (Mattarella re-elected and Draghi remaining PM) is the best-case scenario for Italy in the next 12 months. As such, BTPs should benefit from the expected stability and the integrity of the two major political figures. In the short term, we see chances of a modest tightening in spreads vs Bund. We remain relatively optimistic on Italy’s recovery story...

*This article was originally published by Fair Observer Alissa Claire Collavo | Italy’s parliament gathered in a joint session of both houses on January 24 to elect the country’s next president who will succeed Sergio Mattarella, whose term will end on February 3. A total of 1,009 voters, including 58 delegates chosen by regional councils and known as “great electors,” took part in the first stage of voting, which will be repeated every...