Stock Exchange: Europe confirms reductions with US futures, Milan -0.3%

Stock Exchange: Europe confirms reductions with US futures, Milan -0.3%
Stock Exchange: Europe confirms reductions with US futures, Milan -0.3%

MILAN, 24 SEPTEMBER – The main European stock exchanges confirmed their decline, slowed in the morning by the retreat of the Ifo index, which measures business confidence in Germany. Even that of Italian companies is down, while it has set a new record for consumers. US futures were negative pending the intervention of Fed President Jerome Powell and two other FOMC members, while in Hong Kong Evergrande closed with a new slide (-11.61%) after the rebound on the eve of the day. Milan 0.3%, Paris 0.91% and Frankfurt 0.68%. Almost in parity Madrid (-0.05%), while London is weak (-0.23%). Sales continue on Adidas (-3%) and Puma (-2.06%) after the cut to Nike estimates. A negative sign also for Kering (-2.36%), Lvmh (-2.08%), subject to a cut in the recommendation to ‘hold’ by Erste Group, while Moncler decreases (- 1.05%) in Piazza Affari. Semiconductor manufacturers Nordic (-3.68%), Asm International (-2.5%) and Asml Holding (-1.68%) remain weak, while Infineon and Stm (-0.9% both) appear more cautious . The cars driven by renault reversed the course (+ 2.4%). Daimler (+ 1.08%) is instead pushed by the entry into Acc, the company founded by Stellantis (+ 0.4%) and TotalEnergies (+ 0.3%) for the production of batteries. BP (+ 0.65%), Shell (+ 0.33%) and Eni (+ 0.26%) are up with WTI crude oil unchanged at $ 73.3 per barrel. Banks are catching their breath with the cooling of government bond yields, which have reduced the rise to 2.4 basis points, while the spread between German BTPs and Bunds remains at 101.4 points with the yield increasing by 5.1 points at 0.77%. Well Commerzbank (+ 1.85%) which placed a 500 million euro bond with requests for 1.1 billion and above all Bper (+ 2.52%), pink jersey in Piazza Affari following the “replacement” plan. generational “which will affect 1,700 employees and according to Citi will generate” significant savings “. Unicredit (+ 1.27%), SocGen (+ 0.9%), Bnp (+ 0.6%) and Santander (+ 0.4%) did well. (HANDLE).

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Stock Exchange Europe confirms reductions futures Milan

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