Negative Europe awaits Wall Street
European stock markets continue in negative territory ahead of the start of Wall Street where futures are falling. The markets are worried about the caution of central banks regarding rate cuts and China’s economic growth. Government bonds showed little movement with the spread between BTPs and Bunds at 156 points and the yield on the Italian ten-year bond at 3.85%. The Stoxx 600 index lost 0.2%. Madrid (-1%), London (-0.4%), Frankfurt (-0.3%), Paris and Milan (-0.2%) are down after the collapse of industrial production in December. The main European price lists are weighed down by energy (-1.7%), after the quarterly reports of some big names in the sector and with the price of oil rising. The WTI rises by 0.6% to 73.7 dollars a barrel. Brent gains 0.6% to 79 dollars. Among the equity sectors, banks (-0.9%) and utilities (-0.5%) also fell, the latter with gas rising. In Amsterdam, prices gained 0.3% to 28.7 euros per megawatt hour. In the Old Continent, cars are racing (+1.5%), with the market speculating on the hypothesis of consolidation of the sector involving Renault (+2.5%) and Stellantis (+2.4%). The luxury sector is positive (+0.6%), while analysts see a recovery in the sector in China. MPS flies in Piazza Affari (+4.3%), with the accounts for 2023 and the return of the coupon after thirteen years. Ferrari (+2.1%) and Fineco (+1.9%) stand out. Intesa is at the bottom of the main list (-2.8%). The other credit institutions also performed poorly with Banco Bpm (-1.7%), Bper (-1.3%) and Unicredit (-0.3%). Tim moved little (+0.07%), after the Brazilian accounts and waiting for the board of directors to evaluate the Mef’s offer for Sparkle.
2024-02-07 13:58:35
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