The Ftse Mib closes practically unchanged at 34,715 points (+0.05%), erasing the gains in the last part of the session. It stands out among the best performances on the list Saipemup 4.6% after the release of third-quarter results, followed by Stellantis (+1.65%) e Brunello Cucinelli (+1.6%). At the bottom of the table is Banco Bpm (-2%), Nexi (-2%) e Mps (-1.8%). The BTP/Bund differential stands at 121 points.
The other European stock markets closed on a positive note: Paris recorded a +0.1%, Frankfurt +0.3% and London +0.1%. On Wall Street, the Dow Jones lost 0.4% two hours after the opening, while the S&P 500 and Nasdaq remained in positive territory.
Stock market at 12: Piazza Affari remains positive thanks to the good results of auto and tech
European stock markets are accelerating upwards despite the fact that business activity in the Eurozone remains in contraction, penalized by the decline in both domestic and foreign demand. The Dax advances 0.79%, The Cac40 of 0.89%, The Ftse100 of 0.93% and the Ftse Mib marks a +0.85%, reaching 34,992 points at 12.
They stand out among the best stocks on Piazza Affari Iveco, Stellantis and STMicroelectronicsfollowed by Saipem, Brunello Cucinelli and Moncler, thanks also to the good results of Hermès, which recorded an increase in revenues of 11.4% in the first nine months, reaching 11.2 billion euros.
The Asian indices, except Tokyo, they are found in red, as investors try to assess the possible consequences of the US election on relations between the United States and China. On the previous day, American indices closed lower, with the Nasdaq down 1.6% and 10-year Treasury yields at three-month highs. It will be important to monitor data on unemployment benefits.
Stock market 9am: Piazza Affari positive thanks to the quarterly reports of Saipem and Tesla, cars and tech are on the rise
After the declines of the previous day, Milan earn it 0.52% in the Ftse Mib, driven by Saipem’s rally after the publication of the quarterly report. Paris records a better performance (+0.6%), While Frankfurt advances more slowly (+0.34%). The best square is Amsterdam (+0.84%), While Madrid falls further behind (+0.14%).
A climate of optimism was fueled by Tesla’s quarterly results, with the stock rising strongly in the after-hours. However, attention remains focused on the conflict in the Middle East and the possible repercussions of the US elections.
In Piazza Affari, Saipem dominates today, having presented quarterly accounts above expectations and which opens with a +3.75%. The net result for the first nine months of 2024 was 206 million euros (vs. 79 million in the same period of 2023), of which 88 million in the third quarter (vs. 39 million).
Stellantis and STMicroelectronics rise respectively by 1.83% And by 1.15%, driven by the positive results of Tesla, which have given impetus to the auto and tech sectors, while Eni advances1.37% at 14.374 euros, after having signed the contract with KKR for the entry of the US fund into 25% of the share capital of Enilive. The total consideration agreed is equal to 2.938 billion euros. Luxury also did well with Moncler, which earned1.00%, opening at 54.34 euros, and Brunello Cucinelli, which increases by 0.87%, reaching 93.15 euros. Tim recovers (+1%) in the luxury sector, after having declared itself an injured party in the corruption investigation involving one of its managers.
Few drops: Nexi opens at 6.008 euros, down by 0.63%. Pirelli records a decline in 0.50% after Michelin data, while Banco BPM loses 0.29%, dropping to 6.19 euros.
Spread at 121 points, data on the 7-year BTP
The yield on the 10-year BTP fell to 3.487%, with the spread against the Bund stable at 121.10 basis points. The Treasury specified that over 80% of the BTP, issued in two tranches for a total of 13 billion euros, was purchased by foreign investors. In particular, the 7-year maturity November 2031 was assigned for 10 billion with 81.1% of foreign accounts, while the 30-year October 2054, reopened for 3 billion, saw a foreign participation of 80.9% . In the evening, after the market closes, the details of the semi-annual bot auction scheduled for Tuesday 29 October will be published.
European stock markets expected to rise thanks to Tesla’s good results, spotlight on Tim and Eni
European index futures are in rise, supported by the positive results of Tesla, which temporarily improved the mood on Wall Street. Tesla presented quarterly data, with the stock up 12% in afterhours trading: profits beat forecasts, while revenues were slightly lower than expected.
TO Milan, spotlight on Intesa Sanpaolowhich signed an agreement with the unions for an early retirement plan for 4,000 employees, providing annual savings of 500 million euros starting from 2028. Citi confirmed its “buy” rating and the target price of 4.35 euros. Always on Piazza Affari, Eni sold 25% of Enilive to KKR for 2.9 billion euros. Also pay attention to stocks in the auto and technology sectors, in the wake of Tesla’s data.
Still to be monitored Tim which closed the session of 23 October down by 2.41% on the news of searches by the Guardia di Finanza in the office of the head of procurement, Simone De Rose, for alleged corruption between private individuals. Finally, watch out A2A and Edison. In fact, the deadline for submitting applications to participate in the tender for the first two hydroelectric power plants put up for tender by the Lombardy Region expired on 22 October.
