Le European stock exchanges close an uncertain day on a positive note thanks to the push from Wall Street, in the first session of 2025, despite a volatile context. Milan, the Ftse Mib rises by 0,55% and closes at 34.374,77 points. The rest of the continent is also doing well: London (+1,07)% and Amsterdam (+0,97%) lead the increases, while Frankfurt (0,56%) and Madrid (0,67%) went more slowly. It also closed in green Paris (+0,18%) after being in the red almost all day, weighed down by sales in luxury stocks. Zurich is closed for holidays.
Concerns about theChinese economy, fueled by disappointing manufacturing data, are weighing on the markets, especially on stocks in the sector e luxury. Despite Xi Jinping's promises of more incisive economic reforms and policies, investors remain cautious. Even the manufacturing PMI indices December's declines in Germany, France and the eurozone, with Italy recording a less marked contraction, are not helping.
On Wall Street, however, it is worth noting the Tesla Crash (over 5%), which discounts lower-than-expected quarterly deliveries.
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A Business Square, the Fste Mib is weighed down by sales in the banking sector, with Bper Banking, Unicredit e Ps among the worst. Sales also hit cars and luxury, with Moncler, Classic Ferrari for sale e BRUNELLO CUCINELLI in negative. On the other hand, oil companies shine with the brilliant performances of Saipem, +6,10% Eni, +2,84 and Tenaris, + 2,08%.
Out of the main basket, Geox (-7,69%) suffers a sharp decline after the announcement of an industrial plan and a capital increase.
On the foreign exchange market, theeuro/dollar remains stable at two-year lows. The ECB president confirmed her commitment to keeping inflation below 2% by 2025. The Petroleum continues to rise, while the natural gas continues to hover around 50 euros per megawatt hour in Amsterdam, due to the halt in Russian transit through Ukraine.
Lo spread between 10-year BTPs and Bunds of the same duration is 117 basis points, while the rates are 3,53% and 2,37% respectively.
READ MORE: Stock Market Close, Oil and Gas at Highs Give a Boost to Saipem and Eni
