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Tuesday, November 29, 2022

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Stock market: Europe remains in the red after the opening of Wall Street

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US GDP curbs, ECB in trenches on price risk (ANSA)

(ANSA) – MILAN, OCTOBER 29 – The main European stock exchanges remain in the red, after the contrasted opening of Wall Street and the data on the Eurozone GDP, which fuel fears about rates.

The worst is Frankfurt (-0.5%), followed by London (-0.4%) and Paris (-0.3%) and Madrid is flat (+ 0.02%). Milan is in line (-0.5%), with the BTP-Bund spread at € 128.4 and the Italian ten-year yield at 1.2%. Calm gold (-0.2%) at 1,795 dollars an ounce.

The area index of the Old Continent, Stoxx 600, drops 0.4% and mainly weighs real estate, with examples such as Vonovia (-4.8%) and Tag (-4.1%), and utilities, such as Edp Renovaveis (-2.7% 9 and Verbund (-2%). Information technology is almost all in the red, with the largest losses for Worldline (-3.1%) and Qt Group (-10%).

Telecommunications services are down, starting with Millicon (-3.3%) and Tim (-3%) the day after the accounts. Bad many cars, from Porsche (-1.6%) to Volkswagen (-1%) and Stellantis (-0.9%) in the day after the quarter, not Daimler (+ 1.4%) and Renault (+0, 1%), least of all Volvo Car, which debuts in rally in Stockholm (+ 22.8%). In no particular order, oil, despite crude still falling (wti -0.6%) at 82.2 dollars a barrel and brent at 84.2 dollars, with gains for some, such as Eni (+ 2.2%) with the quarterly report, Repsol (+ 0.8%) and Aker (+ 0.7%), and losses for others, such as Omv (-1.9%) and Royal Dutch (-1.4%). Similar trend for banks, with increases for example for Bank Polska (+ 4.9%) and Commerzbank (+ 2.4%) and decreases for others such as Banco Bpm (-7.1%) and Caixa (-3%) . (HANDLE).

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