(Il Sole 24 Ore Radiocor) – Closing in “red” for European stock exchanges at the end of a volatile session in particular in the final, where the indices of the Old Continent worsened in the wake of those of the USA. Sales on technologicalin fact, they weighed down the trend of the markets, nor was the rise in oil prices sufficient to support continental prices. The downturn in Wall Street was weighing heavily on the climate, with the Dow Jones held back by fears of possible difficulties in passing through Congress the measures announced by the Joe Biden administration to support the recovery of the economy. Piazza Affari is no exception with the FTSE MIB which archives the session of 4 October in negative territory together with CAC 40 of Paris and German DAX 30.
In China, on the other hand, remains under the lens of the Evergrande case, whose shares have been suspended on the Hong Kong Stock Exchange pending communications on aimportant transaction which should be announced shortly. In the People’s Republic they also deal with the rationing of electricity, which is slowing down production processes.
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Wall Street in “red” between tech and inflation
Strong sales also on Wall Street, where inflation is worrying: the PCE figure increased in August by 0.4% on a monthly basis and by 4.3% annually, confirming its highest level since 1991. The week will live mainly on waiting for the September employment report which will probably be one of the last data that the Fed will consider when deciding when to start “tapering”. Meanwhile, investors are targeting tech stocks in particular.
In Milan, oil products are at the top, eyes on Mediolanum
The Piazza Affari Mediolanum Bank continued to gain ground during the session of 4 October, while rumors of a possible merger under consideration with Mediobanca. Investors have rewarded Moncler while the countdown has started for the quarterly round of the fashion sector that will begin next week. It loses altitude Stellantis, after the group in September 2021 recorded a decline in car registrations in Italy of 41.6% compared to the same month of 2020. The big oil companies rank at the top of the list, such as Eni, Tenaris e Saipem in the wake of the run of WTI crude oil which is now moving to its highest levels since 2014.
At the bottom of the index Stmicroelectronics together with the rest of the tech sector, targeted by sales throughout Europe also due to the renewed weakness of the NASDAQ 100 from New York. After a good start it went negative Amplifon which recently closed the acquisition of the Australian, Bay Audio. Out of the main basket, Mediaset it closed lower after top management proposed a review of the share structure.
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