Le European stock exchanges They are slowing after yesterday's decline, following Wall Street (Nasdaq -1,9%), further weighed down by selling in tech and artificial intelligence stocks. And here too, US futures are holding back the markets, which are also down today.
The decision by the shareholders also attracted the attention of the markets Tesla, which in the night have Elon Musk's huge bonus approved, tied to 10-year targets that could be worth up to $1 trillion. In the background is trade tensions between United States and China on semiconductors, with Europe exposed to indirect effects.
For the macro agenda, foreign trade of the Germany, an indicator of the resilience of European manufacturing, with imports in September rising 3,1% month-on-month and exports rising 1,4% month-on-month, above expectations. In this context, the main European indices are moving downwards: from Milan a Frankfurt passing through Paris, London, Madrid e Amsterdam, data on the US labor market and the possible repercussions on the Fed's decisions to cut rates are preventing the stock markets – also weighed down by utilities with falling gas prices – from moving at a decisive pace.
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A Business Square, the protagonist at the beginning is Ps which jumped out, strong accounts with quarterly profit of 474 million euros, 30% higher than expected, and a net operating margin of 453 million. The institute led by Luigi Lovaglio announced that it will consolidate Mediobanca (+3,8%) from the fourth quarter, a factor that strengthens the profitability and capitalization prospects.
Unipol is down after the first nine months of 2019, which closed with a consolidated net profit of 1,2 billion (+48%). The performance was also good for Moncler e B for Bank, also recovering Bpm bank after a poor start. Banca Mediolanum is advancing supported by the promotion of Mediobanca, which raised the target price from 17 to 20,50 euros and confirmed the "buy" rating. Also rising Stellantis, Buzzi e Italgas after Deutsche Bank's upward revision of its target price from 8,5 to 10 euros, with a "buy" recommendation. Purchases also on Telecom Italy following the Barclays upgrade and awaiting developments on the NetCo dossier.
On the raw materials front, the spot rises to $4.007 an ounce while the Bitcoin stands at $101.600.
