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Stock market: Europe in no particular order in the final, Milan unchanged

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Milan, meeting for Pirelli's 150th anniversary (ANSA)

(ANSA) – MILAN, 04 JUL – The main European stock exchanges move in no particular order in the final, with US lists closed for Independence Day. Milan appears unchanged, while Frankfurt (-0.35%) and Madrid (-0.05%) turn negative and London (+ 1.1%) and Paris (+ 0.45%) are holding. Investors’ eyes are on the double problem of economic recession and inflation, waiting to see the minutes of the last Federal Committee of the Fed in two days. The rise in crude oil (WTI + 1.75% to 110.32 dollars per barrel) and above all gas (+ 8.81% to 160.8 euros per MWh in Amsterdam) is frightening with the threat of strikes in Norway starting from tomorrow, which could affect up to over 13% of exports. Contrasted iron (+ 0.07%) and steel (-0.09%) due to the uncertainty of demand in China.

In the background there is also the theme of banks, with the ECB studying measures to offset any ‘extra-profits’ due to the rise in the cost of money. In particular, the Spanish Sabadell (-3.05%) and Bankinter (-2.97%), together with Intesa Sanpaolo (-2.25%) and Commerzbank (-2.97%), Banco Bpm (-2, 19%) and SocGen (-0.8%). In contrast to Unicredit (+ 0.67%), Credit Agricole (+ 0.37%), Bbva (+ 1.12%), NatWest (+ 1.6%) and Standard Chartered (+ 2.06%).

In the energy field, Equinor (+ 5.74%), Bp (+ 4.97%), Shell (+ 4.69%), TotalEnergies (+ 4.11%) and Eni (+ 3.08%) run together with Tenaris (+ 3.74%), while Saipem moves against the trend (-7%) in the penultimate days of trading of the rights to the € 2 billion capital increase (-82.29%). Semiconductor producers are weak after the cut to ‘neutral’ of the recommendation of JpMorgan on Ams-Osram (-7.74%), of which it has halved the target price from 22.5 to 10.33 Swiss francs. Infineon sells 2.09% and Stm 1.75%. A minus sign for the automakers Mercedes (-3.09%), Stellantis (-1.3%) and Renault (-1.11%) unlike Ferrari (+ 2.28%), pushed by Jefferies analysts, which they recommended ‘keeping the stock in portfolio’. (HANDLE).

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Source: Ansa

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