The markets, albeit cautiously, proceed to cash in after the gains made at the beginning of the week. Slow down the bull run against a data ofinflation than in the Eurozone nearly 10% (9,9% against 9,1% in August) and exceeding it in the United Kingdom (+10,1% but at the highest level for 40 years).
Business Square, after an initial slowdown, at 13 pm it recorded a slight decrease (-0,1%), in line with the Eurostoxx. The data on the cost of living weighs but not that much on the performance of the bond market: German Bund at 2,34%, yield on the ten-year BTP up slightly to 4,72%. The spread fluctuates around 238 points.
Wall Street futures
Wall Street futures signal a higher start ahead of some of the quarterly more awaited. Today the market celebrates one of its darkest anniversaries: 35 years ago, on 19 October 1987, in Black monday the S&P index fell 22,6% under the avalanche of 500 million shares sold.
Highlights
On the quarterly front, it shines Asml +7%, the Dutch jewel that churns out the most advanced machines in the world for the production of chips: both the results and the forecasts for the end of the year improve despite the real USA selling premium products to China.
Flat Nestle: The Vevey-based giant raised its full-year sales outlook, but the CEO expressed concern about the 'difficult economic environment' affecting consumers' purchasing power
Indexes slightly moved in Piazza Affari after four sessions marked by an increase. He misses out Campari -1,3% held back by the disappointing accounts of the Danish Royal Unibrew. The energy sector recovers in line with the extension of oil moved by the new US/Saudi Arabia tug of war: Tenaris + 2,4% Eni +0,75%. On positive ground Leonardo (+ 1,5%).
Letter instead on utilities: Snam and Terna -1,6% are paying for the prospect of rate hikes. In Europe the gas it hit a low of 107 euros per MWh, a new low since June, before rebounding to 120 euros.
The run stops Telecom -0,2%, sales up Tiscali (-1,4%) and on Nexi -2,2%.
On the banking front, the ups and downs of Mps Bank. After yesterday's recovery, the rights to the capital increase lose 8,65%. Up among the Bigs: Understanding +0.7%, stable Unicredit.
Brembo +0,6% launched its own venture capital unit, Brembo Ventures, which will manage investments in start-ups active in innovative mobility systems.
Car forecasts by S&P Global
S&P Global (formerly IHS) has updated its global auto production forecast, confirming one's estimates + 6% growth in 2022. Slightly higher indications for China (+2% on previous estimates), offset by slightly lower numbers for Europe and North America. In 2023, the global production was reduced by 1% due to a -2% and -1% revision for Europe and North America, while China and RoW were confirmed. L'European Stoxx index of Automotive companies is little moved. Year-to-date -23% vs -18% of the global Stoxx 600 index. Renault +6% is the only component (out of thirteen) with a positive performance since January XNUMXst. stellantis -21,7%.
