The European stock exchanges they all closed in negative territory on October 8, weighed down by international tensions and the absence of economic stimulus from China. Milan remains just below parity at -0.25%, while the Dax of Frankfurt at -0.11%. Paris manages to partially recover from a complicated opening and stops at -0.74%. Deep red for London, which closes worsening at -1.37%.
In Milan it is Italgas leading the fastest growing stocks, closing at +3.34%. Continued Monte dei Paschi which reached a 2.40% increase at the end. Limits the damage to what for long stretches of the day was the worst stock on the Italian stock exchange, Moncler, which closes at -1.38%. Some energy stocks are much worse: Sapiem the worst, -2.48%, follows Eni at -2.14%. Bad too Stellantis, -1.85% e STMicroelectronics, -1.82%.
Stock market 12pm: Europe limits losses, Moncler bad
The morning of the European stock markets continued in negative territory, even if a large part of the EU lists managed to contain their losses. The Dax of Frankfurt reduces the opening drop, recovering part of the lost ground and settling at a drop of 0.30%. It also reduces losses slightly Cac 40 of Paris, which returns below the 1% loss to -0.94%. It only gets worse London, which slows down to -1.17%.
Also Milan it follows the rest of the European stock markets and, after having almost dropped by half a point, recovers with the Ftse Mib which stands at around -0.28%. Confirms the braking of the opening Moncler, with a marginal improvement to -2.33%. Campari is also still bad, still at -1.30%, Iveco -1% and Nexi, -1.02%. Among the best, Italgas, Bper and Monte dei Paschi still stand out, maintaining their opening increases, while Ferrari also begins to accumulate significant growth at +0.83%
Stock market 9:00 am: Milan starts slowly, the rest of Europe does poorly
Weak start for the Milan Stock Exchange, with the main Ftse Mib index standing at around -0.20% at the opening. Moncler is still agitated, the worst at the start with a drop of almost 3% at the end of yesterday’s trading. Campari and STMicroelectronics are also in difficulty, both dropping around 1.4%.
Italgas, on the other hand, did well with an increase of around 1.5%, followed by Bper Banca at +1.15%. Diasorin is also above 1%, while Monte dei Paschi di Siena is just below, at +0.84%, as expected after the announcement of the participation of Barclays around 5% of the shares of the Italian credit institution.
However, the rest of Europe is also in the red mainly due to the increase in international tensions, particularly in Middle East. The Frankfurt Dax loses 0.80%, despite the positive German industrial production data for August. The Cac40 in Paris fared worse, opening at 1.01%, the only major European stock exchange to fall below one percentage point. London however, it is not far away, with the Ftse 100 opening at -0.85%.
Spread slightly increased to 133 basis points
The spread between BTps and German Bunds it rose very slightly to 133 points, after having remained stable at 131 basis points yesterday. The increase in the spreads between the ten-year Treasury bonds of Rome and those of Berlin is due to an increase in the yields of the former, which reach the 3.55% after settling at 3.52% yesterday
Two-faced Asian stock markets after the Chinese exploit
Start of the day characterized by pessimism towards the opening of the markets European stock exchanges. After a slightly positive closing yesterday, Milan could start again in negative, in the wake of the difficult week just ended. The stocks that could show off are the banking ones, with Unicredit and Monte dei Paschi reacting to the news of the expansion of two foreign shareholdings, Goldman Sachs Group and Barclays respectively.
The Asian day was characterized by a sudden growth of Chinese price listswith increases between 10% and 12% of Shanghai Shenzhen. An expected exploit, given that trading in China has been stopped for a week for the Golden Week and that the State is preparing for new stimuli to relaunch the economy. However, both Hong Kong and Tokyo are heading for a negative close, weighed down by uncertainties about the Middle East and the price of oil.
