Le European stock exchanges close in positive territory, fueled by the new rate cut by the ECB. As expected, the European Central Bank has lowered interest rates by 25 basis points. At the press conference Christine Lagarde confirmed that the “economy is weak in the short term, but shows signs of recovery”. GDP data Italy, Germany and France's fourth-quarter inflation figures fell short of expectations, increasing pressure on the ECB to continue easing its monetary policy. Spain's January harmonized inflation figures, on the other hand, were disappointing, coming in slightly higher than expected.
Wall Street is mixed, with investors appearing to have digested the rate break decided yesterday, January 29, by the Fed, with the exception of the Dow Jones. Heavy declines for ecosystem, which lost ground despite a better-than-expected quarterly result, due to the more modest growth of Azure and Nvidia cloud services. On the contrary, Meta earns thanks to record revenue in the fourth quarter, even though the forecast for the first quarter is below expectations. On the bright side, Tesla grows despite below-expected accounts, supported by the announcement of new models in 2025.
Read EVEN US Quarterly: Microsoft Beats Expectations, But Cloud Disappoints
A Business Square, the Fste Mib (after a volatile morning) closes in positive territory (+0,16%), while Paris recovers after the LVMH crash. Also doing well Frankfurt, Madrid e LondonBest place of the day is Amsterdam with a +1,55%.
Among the protagonists of Milan, Generali announces a industrial plan to 2027, aiming for solid growth and over 7 billion in dividends distributed. On the contrary, stmicroelectronics (-10,7%) collapses after disappointing results, with a 63% drop in profits and a more gloomy forecast for the first quarter. The run of Prysmian (+3,63%), which stands out at the top of the list. Also doing well Pirelli, Iveco e Telecom. In the banking sector, Monte dei Paschi Bank closes down again, while CEO Lovaglio is on a mission to London to sound out the market on Mediobanca. Among the worst blue chips also Unicredit, Intesa Sanpaolo e Bper.
Out of the main list, Juventus slips (-2,32%) after the defeat in the Champions League.
I government bond yields down with the BTP at 3,59% and the spread between BTP and Bund at 108 points.
READ MORE: Stock market close January 29
