Nerves are exposed, the wait and uncertainty for the key event for the US economy is wearing. Today is the day the Fed will make its decision on rates known, but until the last minute It is not clear whether the cut, that is obvious, it will be 25 basis points or 50 basis points. At 20pm Italian time therate announcement of interest, follows the president's press conference Jerome Powell. During the Asian sitting investors have turned the stock prices upside down dollar which had managed to gain ground after positive US data yesterday afternoon, which had reduced the possibility of a drastic cut: the US currency recorded a sharp decline against the yen, shedding a third of yesterday's gains, while Asian stocks were mixed. Also the euro recorded a rise against the dollar, recovering almost all of the previous day's decline.
The data released yesterday afternoon had denied the most catastrophic hypotheses on the trend of the United States economy and the New York Stock Exchange had set itself on the rise, while purchases in bonds had calmed down. Then at the close the positions were adjusted close to parity: Nasdaq +0,05%. S&P500 +0,03%. Dow Jones -0,04%. Russell 2000 Index +1%. Retail sales grew in August more than expected (+0,1% against the -0,2% expected), while industrial production grew in August by 0,8% compared to the previous month, more than expected by +0,1%. BlackRock and Microsoft they plan a 30 billion fund of dollars to invest in artificial intelligence infrastructure. Meta faces hefty EU antitrust fine over classified ad practices.
Tokyo closes slightly higher, but exports to US fall for first time in 3 years
The stock market of Hong Kong is closed for the Mid-Autumn Festival, while at Alone trading is closed on the occasion of the Full Moon Festival. In Japan, the index Japanese Nikkei recorded a 0,49% increase, closing at 36.380,17, while the Topix rose 0,29%. The Central Bank of JapanBOJ Governor Kazuo Ueda is expected to maintain the unchanged reference rate. Ueda and colleagues could also discuss whether and to what extent the conditions exist for another rate hike this year. The growth of Japanese exports has suffered a sharp slowdown in August, with shipments to the United States declining due to the first time in three years, while i machinery orders unexpectedly fell in July, a worrying sign for an economy struggling to mount a solid recovery. In the Japanese index, Fast Retailing, the parent company of Uniqlo, which gains 2,4%.
Le chinese bags have reopened after two days of holidays. The CSI 300 is down 0,2%. In the Chinese stock markets, chip companies are rising, following the government's decision to make the country autonomous in terms of semiconductor production. The Shanghai Zhangjiang High-Tech Park Development stock has gained about +10%. The media reported that the semiconductor division of Samsung Electronics (-2,87%) will undergo a major restructuring by the end of this year, addressing issues such as poor communication and departmental silos, TrendForce reported on Wednesday, citing Chosun Biz.
The changes come after the company laid off up to 30 percent of its overseas workforce last week. DS Division President Jeon Young-hyun plans to shift to a project-focused model to increase collaboration and resolve internal challenges within the division, according to the report.
For the first time ever, India has overtaken China in a major MSCI equity index, supported by steady economic growth and strong inflows. India's weight in the MSCI Investible Large-, Mid- and Small-Cap Index rose to 2,35%, higher than China's weight of 2,24%, Morgan Stanley said in a note on Tuesday.
European stock markets seen little changed. Watch out for Poste, Generali, Iveco, Unicredit
Post. The government has approved a decree for the sale of a stake in Poste Italiane. The Council of Ministers announced this in a press release. The decree provides that the State will maintain a stake of over 50% in Poste, the press release states. The Treasury directly holds a 29,3% stake in Poste, while another 35% is held by Cassa Depositi e Prestiti.
Generali sells its activities in Turkey. The company, in fact, has reached an agreement for the sale of 99,99% of its stake in Generali Sigorta to Kiler Holding (42% of the share), Ekol Girisim Sermayesi Yatrm Ortaklg (9%), Arex Yatrm Holding (48%) and Arex Sigorta (1%). The operation, as stated in a note, is 'fully in line with the strategic plan' which envisages 'pursuing sustainable growth and improving the group's earnings profile, focusing on insurance markets where Generali has a leadership position'.
Iveco Group, buyback for over 6,48 million euros. As part of the initial tranche of the share buyback program announced in June, the company announced that it purchased, from 9 to 13 September 2024, a total of 750.000 ordinary shares, at a weighted average price of 8,6438 euros, for a value net of commissions of 6.482.853,61 euros. Yesterday the stock closed up 4,51%.
Unicredit/Commerzbank. The country's business associations are in favor of the creation of UniCommerz. For the German SME Federation, the Frankfurt institution will hardly be able to survive in the market without external support, said yesterday Marc Tenbieg, general director of the Deutscher Mittelstands-Bund in Dusseldorf, the German association of small and medium-sized enterprises that represents about 25.000 companies throughout Germany.
Tenaris she joined Snam and Rina to assess the capacity of underground gas storage (UGS) wells to handle mixtures with up to 100% hydrogen content and to define a hydrogen-ready design for new wells.
doValue announced that on September 23 it will reverse the split of the 80 million existing ordinary shares of the company into 16 million newly issued ordinary shares, having the same characteristics as the issued ordinary shares, in a ratio of 1 new ordinary share for every 5 existing ordinary shares. September 20 will be the last day of trading of the stock before the reverse split. Following the reverse split, the nominal share capital will remain unchanged and therefore equal to EUR41,3 million. Yesterday, doValue closed in the green by 4,5% at EUR1,42 per share.
