European stock markets should open stable: the future on the Eurostoxx is changing at parity, as is that on the Ftse Mib. Few comments – Tesla aside – came from the closing on Wall Street, which was mixed: the Dow Jones lost 0.33%, while the S&P 500 gained 0.22% and the Nasdaq 0.76%. Even in Asia the stock markets are not progressing in particular order, with Tokyo closing down 0.6% and the Chinese markets doing well. Meanwhile, the quarterly reporting season continues at full speed, with all eyes on the automotive sector as Tesla announced yesterday a better than expected quarterly, with adjusted profit per share of 72 cents on revenue up 8% to 25.18 billion, against expectations for 58 cents on 25.37 billion.
Tesla then announced that more affordable vehicles will be launched in the first half of 2025. CEO Elon Musk also said that he expects vehicle sales to grow “20%-30%” next year. Stocks rose 22%. In Europe, however, Mercedes-Benz announced that net profit for the third quarter largely fell to 1.72 billion euros, from 3.72 billion euros in the same quarter last year, and revenue fell in 6.7% to 34.53 billion euros.
The Stellantis could move to Milan, already on the scene the day before. The attention will also be on Eni, after the group announced that it had closed the third quarter and 9 months with declining results. In detail, in the third quarter it achieved a pro forma adjusted operating profit of 3.4 billion (-14%), an adjusted net profit of 1.27 billion (-30%) and a net profit of 522 million. The company also announced an increase in the 2024 buyback plan, which is now expected up to 2 billion euros, +25% compared to the previous guidance of 1.6 billion and +80% compared to the original annual plan.
In terms of exchange rate, the euro changes hands at 1.0817 dollars (closed yesterday at 1.0802) and 164.33 yen (164.12), and the dollar / yen is at 151.92 (151, 93). At the same time, oil is also stable: the December WTI contract is at 70.29 dollars per barrel (+0.14%), while Brent from the North Sea is equal to 744.54 dollars per barrel (+ 0.14%). The price of European gas is traded in Amsterdam at 42.37 euros per megawatt hour (+0.16%).
The Tokyo Stock Exchange ends the final session of the week with a decline, due to a mixed close of the US stock market, while there is uncertainty, two days before the vote in Japan, on joint whether there is a majority in the Lower House for the government coalition to continue. The Nikkei benchmark price list fell 0.60% to 37,913.92, leaving 229 points on the ground. In terms of currency, the yen breaks its weakening level against the dollar, at 151.80, and against the euro at 164.20.
2024-10-25 06:33:00
#Stock #market #Europe #sustainable #start #Tokyo #closes #negative
