MPS -6.8%, for Saipem +10%. Natural gas +12.3% in the eighth (Il Sole 24 Ore Radiocor) – Milan, 25 Oct – European stock markets end a week of declines. The stock markets are holding their breath awaiting the November 5th presidential elections in the US, while investors are cautious regarding the Chinese economy, where they are navigating by watch while awaiting new possible moves from Beijing to stimulate growth. national economy. In the coming weeks, attention will be turned to the Standing Committee of the National People’s Congress, which is expected to approve an increase in public spending and raise the share of government bond issuance as part of the fiscal stimulus measures. In this scenario, the earnings season remains the protagonist, in full swing both in the Old Continent and in the USA. The Ftse Mib of Milan leaves 1.22% on the ground in the eighth. Only the Cac in Paris is worse (-1.52%), while the Dax in Frankfurt (-1.07%), the Ftse 100 in London (-1.31%) and the Ibex in Madrid are also down (-0.95%).
Among the sectors that are suffering the most at a European level are insurance (with a weekly loss of the Stoxx 600 sub-index of 3.5%), real estate (-3.2%) and construction (-3%). Among the best are travel (+1.8%) and energy (+1.6%), driven by increases in the price of crude oil: +3.9% in the eighth for the price of Brent futures, + 3.2% for that on the WTI; natural gas traded on the European TTF platform in Amsterdam recorded a rise of 12.3%.
On the Ftse Mib, the best weekly performance goes to Saipem (+9.9% overall), rewarded by Wednesday’s solid quarterly report and the improvement in estimates for 2024. Good performance also for Stellantis (+4%) and St (+2 .2%) which benefit from Tesla’s accounts, which are better than expected. Iveco (+2.7%) and Eni (+2.3%) also made gains.
The banks were weak, with MPS experiencing the greatest decline of 6.8%, followed by Bper (-5.3%) and Banco Bpm (-4.9%). Unipol (-5.7%) and Tim (-5.1%) also fell, weighed down by the news of the searches by the Guardia di Finanza in the office of a group manager on the hypothesis of corruption between private individuals. On the exchange rate front, during the week the euro lost 0.5% against the dollar, when since the beginning of the year the single currency has weakened against the greenback with a drop of 2%.
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(RADIOCOR) 25-10-24 19:23:24 (0673) 3 NNNN
