Le European stock exchanges closed the last session of a difficult week dominated by the disappointing quarterly reports of the Hi-Tech and luxury giants on the rise. What is cheering up investors' spirits is the recovery of Wall Street, but also the good quarterly results published in recent years, starting with those of Hermès and Essilux. Milan (+0,12 at 33.812 points) is further behind than the other markets, compressed between the excellent performances of Eni, Leonardo and luxury and the new declines of Stellantis and Stm.
Wall Street rises sharply after inflation in line with expectations
After Wednesday's collapse and Thursday's failed rebound attempt, Wall Street is trying again and this time with more conviction, supported by consumer price data in line with expectations. Second quarter GDP data on Thursday (at 2,8%) highlighted a stronger-than-expected economy. Today the one oninflation pce showed, as expected, an increase of 0,1% in June compared to May and of 2,5% compared to the previous year. There “core” component, it grew by 0,2%, while on an annual basis it grew by 2,6%, as analysts had predicted. This is fundamental data for Federal Reserve which will almost certainly keep rates unchanged at next week's meeting, but is expected to decide on a 25 basis point cut in September.
Galvanized by positive inflation data, American stock markets are rising: Dow Jones + 1,6% S & P 500 + 1% Nasdaq +0,9%. On the stock market, after the disappointing quarterly reports and the sharp drops on Wednesday, which had given rise to a heavy rotation of stocks to the detriment of tech stocks, the stock of A closed sharply down yesterday too (-3%), while the stock of Tesla it gained 2% and was among the best on the Nasdaq. Today, they lose 0,56% and 1,5% respectively. Purchase on Meta (+ 2,8%) and Amazon (+1,1%). Semiconductor stocks are attempting to rebound after this week's declines: Nvidia (+ 0,2%), Broadcom (+ 0,8%), Advanced Micro Devices (Amd +0,9%), Qualcomm (+ 1,77%) and micron Technology (+ 0,7%).
Stock market closes July 26: Europe on the rise, Paris the best
È Paris the best stock market in Europe (+1,2%) driven by strong increases in Hermès (+3,4%) ed Essilux (+7,4%) after the quarterly reports. The company producing the iconic Birkin closed the first half of the year with a net profit up 6,4% to 2,3 billion despite the slowdown in China, while in the second quarter it recorded a 13% increase in sales, demonstrating the continued propensity to purchase by high-end customers. Essilux instead reported a 5,2% increase in revenue in the second quarter, supported by demand in the Europe, Middle East and Africa region.
Also shop on Amsterdam (+ 0,9%) and Frankfurt (+0,68%), while Madrid it is saved at the end (+0,2%). Outside the EU, sharply rising London (+1,2%) where the British bank NatWest (+6%) announced plans to buy Metro Bank's mortgage portfolio for £2,4 billion ($3,09 billion).
Eni and Leonardo run in Piazza Affari, Stellantis and Stm run down
At the top of the Ftse Mib there is Eni (+3,3%) which was communicated this morning results above expectations and the profitability guidance revised upwards. Runs Leonardo (+3,06%) after the CEO and GM Roberto Cingolani, in an interview given to Sun 24 Hours from the Farnborough aerospace show he said that the company is discussing with Airbus to evaluate the strengthening of collaborations and industrial synergies.
Italian luxury rebounds thanks to the accounts of Hermès and Essilux, with Brunello Cucinelli e Moncler who earn 3,1% and 1,88% respectively, while Ferrari scores +1,3%.
Well bought too Interpump (+ 2,45%) and Pirelli (+1,2%). Among the energy players they closed above parity Terna (+0,1%) ed Enel (+0,15%) after the publication of the respective ones half-yearly. In red Snam (-0,77%) which signed an agreement to acquire 100% of Edison Stoccaggio for 560 million euros.
Sales don't stop stmicroelectronics e stellantis, which after yesterday's collapses (-13,7% and -8,7%) due to disappointing accounts and prospects lower than market forecasts, lost 3,87% and 3,05 respectively in the last session of the week %. The worst is Saipem (-4,17%).
Banks are subdued with Ps loses 1%, Banco Bpm in the red by 1,33% Unicredit which marks -0,55%.
Outside the Ftse Mib, the performance of Webuild (+2,45%) after an excellent half-year which saw revenues rise by 20% and attributable adjusted net profit grow by as much as 256%. In orbit immsi (+30,6%) which announced a maxi order worth 1,6 billion obtained from the subsidiary Intermarine together with Leonardo.