Halfway through the session, the European stock exchanges follow the negative trend of Wall Street and are affected by the volatility of Tokyo. Milano records the steepest losses, penalized by the banking and technology sectors. Consistent reductions also for London, Madrid e Paris and Frankfurt try to contain the damage. After Wednesday's rebound, which ended a four-session losing streak, the markets are now showing signs of weakness. THE minutes of the Bank of Japan (BoJ) show that some members see margini for further rises, despite recent reassurances from vice governor Shinichi Uchida, who had downplayed expectations of an imminent rise.
Complicating the picture is the possibility that the Australian central bank will increase rates to combat inflation in services, while fears of a recession in the United States in 2025 are growing. Furthermore, the massive carry trade on yen, equal to 250 billion dollars, represents a risk to be monitored carefully, as recent volatility in rates and exchange rates could influence global investment strategies.
The focus is on the new data on unemployment benefits negli United States, which could provide further indications on the health of the US economy. Analysts warn that any deviations from forecasts could generate significant movements in the markets.
Europe in decline
A Frankfurt, several blue chips stood out with positive quarterly results. Deutsche Telekom recorded an increase of 2,3%, supported by an increase in revenues of the same value and by an adjusted net profit increasing by 31,3%. Allianz it gained 1,65% thanks to a better-than-expected net profit growth of 7,5% in the second quarter. Also Rhein Metall closed on a positive note, with a +0,91%, thanks to the strong demand for military supplies which boosted both revenues and operating results. Siemens, despite a 50% increase in net profit in the third quarter, suffered a 16% decline in orders, with less of an impact on the stock.
A ParisHowever, the session is more difficult: Teleperformance lost more than 5%, while Airbus and the main luxury stocks such as Hermès, L 'Oréal e lvmh they recorded losses of more than 1%.
Wall Street weak
In the United States, i futures indicate a slight bending before opening. Wall Street closed lower after a sudden reversal: the S&P 500, which had risen by 1,5%, ended the session down by 0,8%, while the Nasdaq lost 1,1%. Nvidia led the declines with a 5% decline and anticipation for the results (August 28) is rising. Investors are concerned about the returns on investments in artificial intelligence and the disappointing results of Super Micro Computers, which saw a 20% drop in its value.
Warner Bros. Discovery lost 9%, with losses per share of -$0,36, lower than expectations of -$0,22. Revenues, at 9,7 billion, were below estimates of 10,07 billion.
Il Treasury Note yield 10-year bonds rose to 3,9% after a disappointing auction of $42 billion in 3,960-year bonds, issued at 3%, XNUMX basis points above order-taking levels.
Red dominates in Piazza Affari
A Milano, they only save themselves nexi ed Enel. Interpump Group stands out positively, thanks to the upgrade of Kepler Cheuvreux, which raised the target price to 45 euros. But red dominates in Piazza Affari. Among the worst Ferrari, stmicroelectronics e Amplifon. Banks are also showing signs of weakness: Fineco black jersey drops 2,78%. Intesa Sanpaolo e Unicredit they lose 0,9%, while Bpm bank loses 1,23% e B for Bank drops by 0,32%.
Team lost 1,24% despite the purchase of 430 thousand shares by CEO Pietro Labriola. The luxury sector is also doing badly, with Moncler e Brunello cucinelli down more than 2%.
Azimuth loses 0,96% despite increasing the net collection target for 2024.
Always outside the main basket, From Nora it collapsed by 9,48%, reaching the lowest levels since the IPO in 2022. The hydrogen group suffered from downward revisions to analysts' estimates. UBS reduced its target price. Also in sharp decline Dovalue (-5,3%), with a double-digit decline in Ebitda and a reduction in guidance for the year. Salvatore Ferragamo slips by 2,19%, with the target price reduced from 10 to 7 euros by Cicc. Also D'Amico is in sharp decline (-3,23%).
Other markets
Il Petroleum falls again: Brent loses 0,44% to 77,89 dollars a barrel and WTI falls by 0,34% to 74,89 dollars. Expectations of military escalation in the Middle East and the decline in US inventories had pushed prices higher in previous sessions. The gas natural Ttf rises by 1,25% to 38,93 euros per MWh. On the currency market, theeuro it strengthens slightly above 1,092 on dollarwhile its yen recovers ground, with the exchange rate at 146,13. The Bitcoin exceeds 57 thousand dollars.
Lo spread BTP-Bund rises to 148 basis points, up from 145 the day before. The yield on the 3,68-year BTP drops to 2,20%, while that of the Bund stands at XNUMX%.
