Stock market: Europe worsens with Ifo index Germany, Milan -0.5%

Stock market: Europe worsens with Ifo index Germany, Milan -0.5%
Stock market: Europe worsens with Ifo index Germany, Milan -0.5%

(ANSA) – MILAN, SEPTEMBER 24 – The main European stock exchanges are further worsening after the decline in the Ifo index which measures business confidence in Germany. The confidence of Italian companies, measured by Istat, also fell, which however recorded a new record for consumer confidence. US futures were negative pending the intervention of Fed president Jerome Powell and two other members of the FOMC. Milan lost 0.55%, Paris 0.94% and Frankfurt 0.9%. Madrid (-0.31%) and London (-0.4%) are more cautious. Adidas (-3.7%) and Puma (-2.76%) weigh after cutting Nike’s estimates. A negative sign also for Kering (-2.5%), Lvmh (-2.22%) and Moncler (-1.7%) in Piazza Affari. Difficulties also for microprocessor manufacturers Asm International (-2.87%), Nordic Semiconductor (-2.52%), Infineon (-0.94%) and Stm (-0.77%). Weak the automakers Stellantis (-1.1%) and Daimler (-0.55%), despite the latter’s entry into Acc, founded by the former together with TotalEnergies (-0.01%) for the production of batteries . Contrast BP (+ 0.13%), Shell (-0.05%) and Eni (+ 0.38%) with positive crude oil (Wti + 0.23% at 73.47 dollars). Government bond yields in Europe rose by more than 3 basis points, with BTPs up by 4.6 points to 0.766% and the spread at 100.2 points. Banks pay the consequences, from BBVA (-1.29%) to Sabadell (-1%) and Standard Chartered (-1.04%). The exceptions are Commerzbank (+ 1.55%), which issued a 500 million euro bond with requests for 1.1 billion, and Bper (+ 1.87%), after a note from Citigroup that sees “strong savings” with the generational turnover plan for about 1,700 employees announced on the eve. Mediobanca also did well (+ 0.74%), rising over 17% of Generali (+ 0.83%). (HANDLE).

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Stock market Europe worsens Ifo index Germany Milan

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