After a close on Friday in the USA in which the Dow Jones exceeded 40.000 points and with the Asian stock markets in tune positively, the European ones are well in tune. Great day of dividend ex-dividend in Piazza Affari. The focus of investors remains concentrated on central banks, from one side of the ocean to the other. The final data on European inflation which showed a stable price trend in April is part of a possible rate cut in June by the ECB. Isabel Schnabel, member of the executive board of the European Central Bank, called a reduction in the cost of money next month "appropriate", while underlining the Eurotower's caution about further moves.
The Dow Jones closes above 40.000 points on Friday. Gameshop collapses. Reddit shines
The main US stock indexes recorded fractional changes in the last session of the week. The Dow Jones it achieved an increase of 0,34% to 40.004 points, closing above 40.000 for the first time and extending the streak of consecutive weeks of growth to five. L'S&P500 it gained 0,12% to 5.303 points, while it closed in negative Nasdaq (-0,07% to 16.686 points). The negative trend continued GameStop, in progress for two sessions. The stock fell 19,7% to $22,22. The company has communicated the preliminary results relating to the 1st quarter of the 2024/2025 financial year, a period closed with revenues of between 872 million and 892 million dollars, down compared to the 1,24 billion obtained in the same months of the financial year previous. It also announced the possible sale of up to 45 million Class A shares. The company also said it expects net sales to decline in the first quarter compared to a year ago. Strongly rising, however, Reddit (+10% to 62,04 dollars). The company announced that it has signed a strategic partnership with OpenAI.
Well-matched Asian bags. China launches stimulus measures. Watch out for technology stocks
It's positive Tokyo Stock Exchange, in the first session of the week, at +0,73% at 08:20 and continues trading at 39.072,31 points. Brake the Japanese service sector:The index on tertiary sector activity, announced this morning by the Ministry of Economy and Industry, recorded a negative variation of 2,4% on a monthly basis in March after the 1,5% increase in February and against the 0,1% growth estimated by analysts. The figure recorded a decrease of 0,6% on an annual basis. which will close their respective sessions later.
Chinese indices Shanghai Shenzhen CSI 300 and Shanghai Composite are up 0,2% and 0,3%, respectively, extending last week's gains. Both indices reached seven- and eight-month highs. The Chinese authorities they left the reference lending rates unchanged, in line with market expectations. The announcement came after Beijing unveiled last Friday measures defined as “historical” to stabilize the real estate sector in deep crisis, with the central bank having eased mortgage regulations as well as allocating 1.000 billion yuan (138 billion dollars) of additional financing. Hopes now rise that this is the beginning of a more incisive government intervention to compensate for the decline in demand for homes and slow down the fall in prices.
Investors focused on the high tech sector ahead of the quarterly accounts Nvidia Corporation, expected on Wednesday. The US chip giant is considered a barometer for the technology industry, especially due to its exposure to the artificial intelligence sector.
Oil on the rise, gold at a new all-time high
Among raw materials, the prices of Petroleum rise (+0,30% the WTI to 79,82 dollars a barrel and +0,40% the Brent to 84,32 dollars a barrel) after the news of the death of the president of Iran, Ebrahim Raisi, following a helicopter crash. The prospect of interest rate cuts in the United States and growing demand from top importer China also stimulate appetite for crude, as well as the fact that the U.S. government said it has purchased about 3,3, XNUMX million barrels of oil to help replenish its strategic reserve. While due to the increase in tensions in the Middle East the price of gold it updated the historical high to 2.452 dollars per ounce (+1,46%).
What to follow today
Positive tone for European stock markets based on futures: The Euro Stoxx Future 50 June 2024 is up by 0,20%. The S&P 500 June 2024 Future is at +0,10% and the Dow Jones June 2024 Future is +0,05%
In Piazza Affari we go to the checkout: 20 Ftse Mib companies distribute the dividend, accompanied by a load of 45 others listed. After the first round of dividends, which took place on Monday 22 April, today is the day of strong names: from Intesa Sanpaolo to Generali, from Eni to Unipol, passing through luxury and asset management companies and utilities. A load of dividends which, according to Intermonte's calculations, in the current season is close to 34 billion euros, almost double compared to last year's 18,5 billion calculated by Janus Henderson.
Unicredit. A judicial tile arrives in Russia. The Arbitration Court of St. Petersburg and the Leningrad Region seized accounts and property of the Italian bank worth almost 463 million. This was reported by the Russian agency Tass. The decision was taken at the request of Ruskhimalyans, a liquid gas production company owned by Gazprom, as part of a dispute. In detail, the project concerned the construction of a gas treatment and liquefaction complex in Ust-Luga
Volkswagen has ended talks with Renault to jointly develop an affordable electric version of the Twingo, sources familiar with the talks told Reuters. It is a setback in European automakers' efforts to counter Chinese rivals with cheaper cars. The failure of the negotiations could mean that the German carmaker will now have to move forward on its own with the development of its own affordable electric vehicle. Renault will continue to design its own electric Twingo, which is expected to be launched on the market in 2026.
