This live broadcast closed at 6pm on Friday.
The European stock exchanges close without momentum the last session of a week characterized by the quarterly reports, while the countdown to the American vote of November 5th. Investors are adopting a cautious attitude, not allowing themselves to be influenced by the improving prospects for the German economy, with the Ifo index rising to 86.5 points in October.
At Piazza Affari, the best blue chip of the last session of the week was Iveco, increasing by 3.2%, followed by Saipem, also with an increase of 3.2%, And Tenaris, that he earned 1.9%. At the end of the basket, Unipol recorded a decline by 1.6%, followed by Nexi (-1.1%) and Hera (-1%). The spread between BTPs and Bunds stands at 122 points.
In the European context, London closed down by 0.2% and Paris by 0.1%, while Frankfurt closed at parity. On Wall Street, two hours after the start of the session, there was a mixed trend: the Dow Jones fell by 0.1%, while the S&P 500 and Nasdaq showed respective accelerations of 0.6% and 1%, 2%.
Stock market at 12: Piazza Affari goes positive thanks to the banks and Saipem
The B’sEuropean bears are weakening, with the exception of Milan which remains at +0.30%, with the DAX marking -0.08%, the Cac 40 -0.23% and the Ftse 100 -0.07%. Piazza Affari continues to do well, thanks to the good performance of the banks and the securities of Saipem (+3.86%) And Prysmian (+0.81%).
The closing on Wall Street was mixed, with few significant insights, except for Tesla’s +22% after the publication of the accounts. Asian markets also moved in a mixed manner: Tokyo recorded a decline of 0.6%, while Chinese markets showed a positive trend. In the meantime, the quarterly reporting season continues to progress both in Italy and abroad, while in the background the anticipation for the outcome of the American elections grows.
Stock markets 9am: European stock markets open stable, Piazza Affari positive thanks to Eni and Saipem
The European stock exchanges they open the session in an uncertain manner, while the season of quarterly reports continues at a rapid pace. Anticipation also remains high for the upcoming American elections, with the countdown already begun. At the start, Milan earn it 0.15%, London grows from 0.13%, While Frankfurt And Madrid remain stable. Paris records a decline in 0.23% And Amsterdam loses it 0.2%.
On Piazza Affari, the main stocks showing a positive trend are Saipem, which, fresh from its accounts and improvement in its 2024 guidance, stands out for a significant increase in 3.25%. Unicredit and Eni also recorded increases, respectively to 40.33 euros (+0.67%) and 14.32 euros (+0.66%), with the second following the publication of the quarterly accounts, which highlight an adjusted pro forma operating profit of 3.4 billion euros (-14%), an adjusted net profit of 1.27 billion (-30%) and a net profit of 522 million (-73%).
Banco BPM also did well, following at 6.12 euros with an increase of 0.62%, following the improvement in S&P’s rating, while Italgas gains the 0.52%, reaching 5.76 euros. Among the other highlighted stocks, Banca Popolare di Sondrio rises to 6.925 euros (+0.51%), Ferrari reaches 448.40 euros (+0.49%) and Tenaris reaches 14.605 euros with an increase of 0.45%.
For the declines, Stellantis recorded a decline to 12.39 euros, down by1.35%, after he gave a good performance yesterday; a decline caused by the recent results of Mercedes-Benz, which recorded a significant contraction in net profit, which fell to 1.72 billion euros in the July-September period compared to 3.72 billion in the same quarter last year, with a decline in revenues of 6.7%, amounting to 34.53 billion euros.
Looking at the other declines, Campari loses 1.06%, falling to 7.682 euros, while Hera stands at 3.626 euros with a drop of 0.87%, and Amplifon cala dello 0.65% at 27.41 euros. Recordati also recorded a decrease in 0.65%, reaching 53.45 euros, followed by Brunello Cucinelli, which drops to 93.20 euros (-0.64%).
Spread at 122 points
The spread between BTp and Bund opens with a slight increase, reaching i 122 basis points compared to 121 at the previous close. The yield of the benchmark 10-year BTp also showed a slight increase, standing at 3.47% compared to 3.45% yesterday.
The rise coincides with the placement of short BTPs and Btpei. On this occasion, the Treasury is offering up to 5 billion euros on three securities, while in the recent 6-month BOT auction, 3.3 billion euros were made available on a 12-month and a 6-month BOT (both with 5 months remaining life). The details of the medium-long term placement, scheduled for next Wednesday, will be announced in the evening.
European stock markets expected to remain stable, with few ideas coming from the closure of Wall Street
The European stock exchanges are expected to fall slightly at the open, while US stock index futures remain unchanged, with attention turned to the series of quarterly reports from the tech giants arriving next week. The judgment is expected in the evening Dbrs on the rating ofItalycurrently BBB (high) with a stable outlook, following the positive update from Fitch and confirmation from S&P Global last week. We are also awaiting the opinions of S&P on Belgium and Moody’s on France, whose rating of Aa2 was revised to negative by Fitch two weeks ago.
On the Milan Stock Exchange, the spotlight is on Unicredit, which has adopted hedging measures for its stake in Commerzbank, of which it has been the main shareholder since 10 September with a 9% stake and derivatives for a further 11.5%. To reduce exposure to market fluctuations, the bank led by Andrea Orcel has appointed the American merchant bank Jefferies to use financial protection instruments.
Eyes up too Bpm desk, with S&P improved the bank’s rating to BBB/A-2, highlighting the strengthening of its loss absorption capacity thanks to the success of the recent issues of senior non-preferred and Tier 2 instruments, which created adequate capital buffers. The outlook remains stable, with S&P predicting continued solidity of Banco Bpm’s business, supported by its strong presence in the most productive regions of Northern Italy and a diversified business model.
In the end Eni, with profits slowing in the third quarter of 2024; Adjusted net profit of 4.3 billion euros, down 34% compared to the previous year.
