This live broadcast closed at 6pm on Thursday. Here is the live news for Friday 4 October.
The Ftse Mib closes lower, losing the1.5% after the declarations of the Minister of Economy, Giancarlo Giorgetti, who during a Bloomberg event in Milan announced a budget law that will require “sacrifices from everyone”. The Milanese index thus stands at 33,170 points, also following the negative opening on Wall Street, with all three main indices falling.
Among the stocks, the only ones rising are Tim, who earns the1.62% after the 700 million offer presented by the Mef-Asterion tandem for Sparkle, Iveco, slightly increasing by 0.46% And Bper Bank with +0.43%. Stellantis it is among the most penalized stocks, with a loss of 5%after CEO Carlos Tavares hinted at a possible retirement in 2026. Saipem also suffers, falling by 5%, while Leonardo loses 2.7%, with a worsening of performance after Giorgetti specified that the sector also of Defense, which has benefited from a bull run on the stock market due to the conflicts in Ukraine and the Middle East, will be called upon to contribute to the financial maneuver.
Stock markets 12pm: tensions in the Middle East slow down European markets, oil rises again
European stock markets continue to slow down, amid the risks of aescalation in the Middle East and investor concerns about a possible slowdown in economic growth, especially in light of the latest data on manufacturing and services activity. In this regard, Paris goes down 0.9%, Frankfurt of 0.7%, Milan of 0.6% And Madrid of 0.2%. In contrast, London recorded a slight increase in 0.1%.
The main European price lists are burdened by the technology sector, which loses 1.3%, and by cars, down 1.8%. Banks and insurance companies also show signs of weakness, with drops of 0.5% and 0.4% respectively. In the oil market, the WTI earn the1.3% at 71.02 dollars a barrel, while the Brent salt of‘1.2% at $74.83.
Stellantis records a further deterioration on the stock market, after an already significant downward start, influenced by production data in the first nine months, which show a decline. On Piazza Affari, the stock lost 4.2%, falling to 11.89 euros. Bad too Saipem (-4.01%), Stmicroelectronics (-2.57%), Campari (-2.52%) and luxury stocks such as Moncler (-2.44%) e Brunello Cucinelli (-2.14%). However, it continues its positive run Telecom at +1.70%.
Stock markets 9am: opening negative and oil starts to rise again
European stock markets open mixed: Frankfurt records a decline in 0.35%, London an increase in the 0.27%, Paris goes down 0.56% And Milan retreat from 0.30%, reaching 33,575 points.
The stock market seems to continue nervously in a week marked by the escalation of the war in the Middle East after Iran’s attack on Israel; macroeconomic and monetary policy issues remain in the background.
Decline for Stellantis and luxury
In the morning, Piazza Affari sees among the main increases Telecom Italia, which opens at 0.2527 euros with an increase of 2.27%, after the Ministry of Economy presented a 700 million euro offer with Asterion to acquire the entire capital of Sparkle. Looking at the other increases, Bper recorded a modest increase, equal to1.00%. Banca Popolare di Sondrio also did well, opening in positive territory, marking progress 0.83%. Iveco also appears to be showing a solid performance, a +0.80%.
Following the increase in oil prices, Eni is rising on the Milanese list, with an increase of 0.60% at 14.20 euros, after completing the aggregation of the majority of its exploration and production assets in the United Kingdom. On the contrary, Saipem (-3.25% at 2.019 euros) and Tenaris (-0.82% at 14.57 euros) do not follow the same positive trend.
Stellantis suffers instead (-4.66%) after the data on sales in the USA and Canada and the rating and target price cuts by Barclays. Not only that: according to Fim Cisl, car production in Italy could fall below 500 thousand units in 2024, compared to the 751,000 vehicles produced last year. Moncler is also bad (-2.1%) and General (-1.4%) with the rating cut of Bnp Paribas.
Oil skyrocketing
Geopolitical tensions are generating a strong push on the markets, with the escalation of the conflict driving the price of raw to overcome the 70 dollars a barrel. The Brent has increased by1.38%, reaching 74.92 dollars a barrel. Iran has launched more than 180 ballistic missiles at Israel in recent days, fueling fears of possible disruptions in oil production in the region.
On the macroeconomic front, attention is focused on tomorrow’s data on unemployment in the United Stateswhich will be crucial to understanding the future direction of the Fed’s monetary policy. Meanwhile, data on unemployment benefits in the US will be released today. Services PMI data in the European Union should also be monitored, which could provide further indications on the state of the European economy.
Spread at 133 points
The spread between BTp and Bund it opens stable, while the yields on the euro curve record a sharp increase. At the beginning of the session, the differential between the reference 10-year BTp and the German Bund of the same duration remained at 133 points base, in line with the previous closure. The yield of the benchmark 10-year BTp increased slightly, rising to 3.45% from 3.44% the previous day.
