Le European stock exchanges they close one sitting nervous e volatile, influenced by weakness on Wall Street. While fears about central banks and US political developments are temporarily put aside, attention shifts to the upcoming quarterly reports in both Europe and Wall Street. In the United States, the spotlight is on A e Tesla, with results expected after markets are closed, while General Motors exceeded profit forecasts. In Europe, the wait is for lvmh, which will have to calm concerns about the luxury sector, and for the accounts of important banking institutions such as Deutsche, Unicredit e Santander.
Among the markets of the Old Continent, Milan manages to contain the losses, closing slightly higher (+0,07%) at 34.637 points. Frankfurt gains +0,72%, supported by SAP's 6,8% jump, despite the decline of Porsche (-7,21%), which lowered sales and margin estimates for 2024. Paris, shares fell by 0,37%, influenced by the fall of Thales (-6,22%) due to the negative outlook for the space sector and the weakness of lvmh (-0,26%) waiting for the accounts. Madrid grows by 0,68%, Amsterdam loses 0,35% e London closed with a drop of 0,47%.
Little movement on Wall Street: Spotify flies. All eyes on Alphabet and Tesla
Wall Street, which opened without any shocks, is trying to regain its share. In the background, we follow the implications of US President Joe Biden's withdrawal from the presidential race and the growing probability of Kamala Harris' nomination. Among the main indices, the Dow Jones gains 0,18%, theS & P 500 salt by 0,33% and the Nasdaq xnumx advances by 0,29%.
Investors await the results with interest A (+ 1,51%) and Tesla (+1,15%), which will be announced after the markets are closed. In the meantime, General Motors saw its shares jump 5% and then fall 4,77%. Second-quarter results beat expectations, with adjusted earnings per share of $3,06 versus $2,71 expected and sales of $47,97 billion, above estimates of $45 billion. GM also raised its forecast for 2024, supported by strong performance in combustion vehicles and growth in electric vehicle sales.
Spotify, for its part, saw the stock take off (+15%) after reporting record results for the second quarter of 2024: revenues of 3,8 billion euros (+20%), gross margin at 29,2% and profit operating amount of 266 million euros. With 626 million active users and 246 million Premium subscribers, the company has exceeded forecasts and CEO Daniel Ek looks to the future with optimism. Also Coca-Cola shined, beating market forecasts and raising full-year sales estimates.
Meanwhile, government bond yields fell further, with the 4,24-year Treasury yield falling to 4,25% from XNUMX% on Monday. Expectations of a possible reduction in interest rates by the Federal Reserve in September could offer some relief to the markets.
Tim is still down in Piazza Affari
In Milan, they won the podium Mediobanca (+ 1,66%), Saipem (+ 1,26%) and Prysmian (+1,25%). Utilities in particular are good Terna (+0,77%) rewarded by Santander analysts who confirm an Outperform recommendation and a target price of 9 euros per share.
The banking sector shows mixed performances: Unicredit (+ 0,85%) and Intesa Sanpaolo (+0,55%) are rising, while B for Bank (-0,37%) And Banca Monte Paschi Siena (-0,31%) fall.
Eni goes into the red (-0,33%), after the morning's gains thanks to the agreement with KKR to sell a share between 20 and 25% of Enilive.
The worst, even today, is Tim -2,88%.
St Microelectronics loses ground, influenced by the disappointing results of NXP and the weakness of the auto sector, with Stellantis down 2,32%, Pirelli of 1,77% e Iveco 1,05%.
Red also for Amplifon.
Among the protagonists of the Ftse MidCap, General Bank (+2,24%) and above all Mondadori (+2,54%), after having purchased Benedetta Rossi's company.
Oil, gas and euros falling. The spread rises
Theuro slips to $1,0862 and the Oil prices marks a slight decline, with Brent at 81,46 dollars a barrel and WTI at 77,39 dollars. The natural gas in Amsterdam it is traded at around 31,5 euros per megawatt hour (-0,94%).
It's getting worse spread, which rises to +134 basis points, with the yield on the 10-year BTP equal to 3,84%, compared to 3,76% at the previous close.
