If the market needed to take some profit, the drop at the beginning of the week seems to have been enough: as happens in shops during the seasonal sales season, investors flocked took advantage of the lower levels to return to the market, which is full of positive ideas especially in the usual area of technology and no one wants to be left off the moving train in a November which has proven in three quarters of a century to be the most bullish monthToday everything starts again: after Wall Street yesterday, today it is the turn of the Asian and European stock markets.'gold expanded its earnings, while the Petroleum recovered ground after three days of losses. The dollar fell slightly against all other G10 currencies, with the yen gaining the most.
Not that there are no uncertainties left: starting with the doubts expressed yesterday by the US Supreme Court on the legitimacy of Trump's tariffs: whatever its outcome, it will end up creating volatility in the markets and uncertainty among companies and countries that are trying to remedy Trump's imposition. The decision of the Bank of England on rates, with expectations of easing to help the struggling economy, while the finance minister is considering drastic measures to curb public spending and simultaneously reduce Britain's debt.
Wall Street: Investors take profits and buy back at lower levels
US stocks rebounded as concerns about the inflated valuations of technology stocks eased. Investors, who began buying again, were particularly affected by the economic data better than expected and a new flurry of positive quarterly results. The Dow closed up 0,48%, the S & P 500 by 0,37% and the Nasdaq by 0,65%. Investors also ignored warnings from JPMorgan Chase CEO Jamie Dimon, who said yesterday Reuters That prices are quite high and that there's always the risk of markets falling. And investors viewed the sell-off of the previous hours as an excellent opportunity to take profits and re-enter the market at lower levels.
The National Employment Report of theAdp showed a recovery in the private sector in October, with an increase of 42.000 jobs. Furthermore, the ISM Purchasing Managers' Survey showed an expansion in the US service sector, despite job losses and the highest production costs in three years.
La quarterly season The third quarter is still in full swing as we approach the final stage. So far, 379 S&P 500 companies have reported results, 83% of which have exceeded Wall Street expectations, according to LSEG data. Analysts now expect a aggregate earnings growth of the S&P 500 index of 16,2% on an annual basis for the period July-September, more than double expectations growth of 8,0% at the beginning of the quarter, according to LSEG. McDonald's gained 2,2% after the fast-food chain showed better-than-expected quarterly sales. In after-hours trading on Wall Street, Qualcomm lost 2,6%, but the chipmaker gave an optimistic outlook on its business performance. Arm Holding, a technology supplier to chipmakers, issued current-quarter estimates that beat analysts' expectations, with the stock rising 4% in the after-hours trading. A judge rejected the request for Pfizer to temporarily block the $10 billion offering of Novo Nordisk for the acquisition of the obesity startup Metsera
Apple is preparing to pay about $1 billion a year for a super-powerful artificial intelligence model developed by Google's Alphabet that would help advance its long-promised overhaul of the Siri voice assistant.
Asian stocks bounce back, led by Hong Kong and Tokyo
Asia Pacific stocks are rebounding after recording their worst streak of losses since April. The MSCI Asia Pacific regional index is up 1,3%, with stocks in Hong Kong (+1,5%) and of Tokyo (+1,5%) leading the recovery movement. In Japan, data on the real wages, up 1,9% from a year earlier, marking an acceleration from August. Wage developments remain under close scrutiny by the market, as the Bank of Japan has flagged them as a key factor in determining the timing of its next rate hike, following its decision to keep interest rates unchanged last week. Shares of Softbank Group Corp. rose 2,9% after news that it was exploring a potential acquisition of the U.S. chipmaker Marvell Technology Inc. earlier this year. The Nissan Motor Co. has agreed to sell its Yokohama headquarters for 97 billion yen ($630 million) to a group backed by Hong Kong-listed auto parts maker Minth Group.
La Seoul Stock Exchange is up 1,5%. In September, the current account recorded a surplus for the 29th consecutive month thanks to solid global exports of semiconductors and ships. According to data collected by Bloomberg, as part of the quarterly review, new items have been added to the MSCI Global Standard indices more Chinese stocks More than 26 Chinese companies have been removed for the first time since February 2024, with 20 being added and 20 being removed. The change comes after the MSCI China Index has risen more than 30% since the beginning of the year, outperforming the global index. Many of the selected stocks belong to sectors supported by Beijing's industrial policy: strategic materials, robotics, artificial intelligence, and high-end manufacturing. China's weighting in the MSCI All Country World Index is approximately 3,15%, compared to 64,73% for the United States, 4,89% for Japan, and 3,17% for the United Kingdom at the end of October.
European stock markets opened little changed. A flurry of quarterly data was released.
European stock markets are expected to open little changed: the Eurostoxx 50 futures are at -0,14%.
Commerzbank AG raised its full-year loan revenue forecast, despite third-quarter results falling short of analysts' estimates due to a higher tax rate.
B for Bank Banca Popolare di Sondrio (S.p.A.) announced that the parent company's profit amounted to €1,32 billion in the first nine months of 2025 (+19,6% year-over-year), its best result ever, thanks in part to the contribution of third-quarter profit. Net interest income stood at €2,43 billion, down 3,6%, better than expected. Net commissions rose to €1,59 billion (+6,0%), thanks to investment services commissions of €688,6 million (+10,3%), property and casualty insurance commissions of €82,6 million (+16,3%), and commissions from traditional banking activities of €821,3 million (+1,7%).
Mediobanca (MPS) closed the first quarter with an 11,8% drop in net profit, penalized by costs related to the MPS offer and the failed acquisition attempt of Banca Generali, while revenues remained stable.
Leonardo The company recorded double-digit growth in orders, revenue, and operating profit in the first nine months of 2025, benefiting from solid performance in its core segments, despite the lack of contribution from the Underwater Armaments & Systems (UAS) business, which was sold to Fincantieri at the beginning of the year. During the call, CEO Roberto Cingolani expressed confidence that the group will exceed its targets and that it is making progress in discussions for a partnership agreement for its aerostructures division, still expecting to reach an agreement by the end of the year.
Diasorin revises its 2025 guidance downward after closing the third quarter with declining net profit and margins, impacted by the contraction of the Chinese market, which negatively impacted the diagnostics sector, and the expected reduction in Covid sales.
Mfe-MediaForEurope is negotiating the purchase of up to 33% of the Portuguese media company Impresa through the subscription of a reserved capital increase.
Tim reported an increase in revenue and margins in the first nine months of 2025, with growth in both the domestic market and in Brazil, and confirmed all guidance for the current year.
Snam The company closed the first nine months with an adjusted net profit (excluding extraordinary items) of approximately €1,1 billion, up 10%, driven by a 6,6% jump in EBITDA and a greater contribution from domestic and foreign subsidiaries. The group expects a response from the German Ministry of Economics, one way or another, regarding the acquisition of a minority stake in Open Grid Europe by November 17, the deadline agreed with the seller. The CFO stated this during the results conference call.
SaipemYesterday, the British Competition and Markets Authority (CMA) gave the green light to the merger of the Italian company with the Norwegian Subsea7.
Iveco It achieved an adjusted net profit of €40 million in the third quarter of the year, down from €94 million in the same period of 2024, with adjusted diluted earnings per share of €0,15 (€0,35 in the third quarter of 2024). Consolidated revenues amounted to €3,115 billion compared to €3,230 billion in the third quarter of 2024. Free cash flow from industrial activities was negative by €513 million, mainly due to lower sales, compared to negative free cash flow of €283 million in the third quarter of 2024, which included a partial recovery of the one-off impact of the second quarter related to the 2024 model year. The company has revised its 2025 guidance downwards. The quarterly figures are below expectations.
nexiNegative signals from the digital payments sector. Worldline launches a €500 million capital increase to support its new business plan. Germany launches an investigation into unfair practices in digital payments.
