(Il Sole 24 Ore Radiocor) – The rush of inflation, the return of Covid in China and the war in Ukraine put them in a bad mood in the first session of the week European stock exchanges which close undertone, as does Wall Street. Purchases on the financial sector, and in particular on banks that see the prospect of rapidly rising rates, have limited the damage to the lists. The Cac40 (+ 0.12%) of Paris moved better than the other indices of the Old Continent, in the aftermath of the first round of the French presidential elections which will lead to a ballot between President Emmanuel Macron and right-wing candidate and Rassemblement National leader, Marine Le Pen. Macron, according to data from the French Ministry of the Interior, obtained 27.85% of the votes, about four percentage points more than Le Pen, which stands at 23.15 percent. Far left leader Jean-Luc Melenchon came third with almost 21.95 percent. The ballot on April 24 will be decisive.
Wall Street closed lower on fears of weak growth and a price run. The Dow Jones loses 1.19% at 34,309.07 points, the Nasdaq drops 2.18% at 13,411.96 points while the S&P 500 drops 1.68% at 4,412.83 points
While the Russian offensive in the Donbass begins, in fact, there has been no lack of signs of anxiety on the markets, including the rise in US Treasury bond yields, which multiply fears about the recovery, the OECD “superindex” which certifies the loss of momentum of the European economy and oil reversed below one hundred dollars a barrel due to anxieties about the global demand for energy (especially affected by the Covid crisis in Shanghai). A mix of factors that penalizes the lists of the Old Continent, volatile for most of the day, while Moscow has to deal with the default of the Russian Railways and the 6% collapse of the RTS index in dollars. In Milan the Ftse Mib lost 0.28%, in Frankfurt the Dax40 0.64%, in Amsterdam the Aex 1.38% and in London the Ftse100 0.67%.
Wall Street weak, eyes on Twitter
Wall Street is down at the start of a short week as markets are closed for Good Friday. Expected above all for inflation data: consumer prices for March are scheduled for tomorrow 12 April, producer prices the following day. Then the quarterly season begins, with the bank accounts. On equities, the most followed stock is Twitter, which fell after it was announced that Tesla’s chief executive, Elon Musk, having become the largest external shareholder, he decided not to join the Board of Directors. Last week, the stock had rallied sharply following news of Musk buying 9.2% of the stock.
In Milan down Moncler and Nexi, a shot by Leonardo
In Milan, Moncler closed at the bottom of the main segment (-4.8%), hit like the whole luxury sector by the rise in infections in China, and Nexi (-3.7%) in the wake of the weakness of the Nasdaq. Realizes on Banco Bpm (-2%) while waiting to understand the strategy of Credit Agricole entered with 9% in the Milanese institute. In the lead, rally for Leonardo (+ 4.7%). The session also recorded a turnaround by investors on the holding Atlantia (-1.1%). The rumors report that the Gip-Brookfield consortium, interested in the holding company, would not, however, want to propose a hostile operation against the Benetton family. Sales also penalized Amplifon (-2.7%), Saipem (-1.6%) and Tenaris (-0.9%), affected by the weakness in this phase of crude oil. UniCredit closed up (+ 0.6%) which will postpone the data on the first quarter to 4 May (from 27 April) in order to better manage its exposure in Russia (on this front, for example, last year the bank, as recalls in its 2021 financial statements, it granted Russian Railways a credit line linked to sustainability from 545 million to 7 years).
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