The major indices of the Italian Stock Exchange and the main European financial markets are preparing to start the day with fractional increases (+0,51% the future on the Eurostoxx50) reflected on Wall Street. The focus is on the expectation that the European Central Bank will make a first rate cut in June, three months before a hypothetical move by the Fed. Eyes on Saipem and the Lavazza group
Wall Street is asking for a rise but Tesla loses 3,4%. Goldman Sachs +3,37%
The main US stock indexes closed the first session of the week in positive territory while awaiting the Tech quarterly reports. The Dow Jones it gained 0,67% to 38.240 points, while the S&P500 recorded an advance of 0,87% to 5.011 points. Better performance for the Nasdaq (+1,11% to 15.451 points). Definitely a bad day for Tesla (-3,4% to 142,05 dollars) awaiting data today. According to what some agencies reported, the automotive giant has once again cut the prices of some car models. Positive closing, however, for Goldman Sachs (+3,37%).
Mixed session in Asia. UBS improves view on Chinese stocks to Overweight
Mixed session for Asian stock markets as investors await results from some of the world's biggest companies this week (Tesla today, April 23, Meta Platforms on Thursday, along with Microsoft and Google parent Alphabet) and new guidance on US inflation which could have implications for the trend in interest rates. THE Chinese price lists were the worst performers of the session with the Shanghai Shenzhen CSI 300 and Shanghai Composite indices, down 0,6% and 0,5% respectively, even though UBS led to overweighting China stocks, also promoting Hong Kong stocks. “The most important stocks in the Chinese index are generally doing well in terms of earnings and fundamentals”, underlined the UBS strategists, seeing the first signs of recovery in consumption and waiting for family savings to flow into spending and investments .
Slight increase for the stock market Tokyo, which shows an increase of 0,30% on the main Japanese stock index. Improve themanufacturing activities in Japan in April 2024. The preliminary data of the manufacturing PMI index for April, published by S&P Global and processed by Jibun Bank, indicates a value of 49,9 points, compared to 48,2 in March and the 48 expected by the market. The indicator is therefore confirmed below the critical threshold of 50 points, which acts as a watershed between contraction and growth. The flash estimate of the services PMI indicates a further strengthening of the tertiary sector, with the related index rising to 54,6 points from 54,1 in March. Instead, it yields to sales Shenzhen, which retreats by 0,48%. Shanghai falls by 0,66%. Leap high Hong Kong (+1,87%); consolidates the levels of the day before Alone (-0,09%). Fractional earnings for Mumbai (+0,25%); on the same line, just above parity Sydney (+0,36%). The bitcoin it exceeded 66.500 dollars (approximately 62.500 euros).
The euro is confirmed at 1,065 dollars.
What to follow today
Saipem could record significant changes at the start of the day. The company ended the first three months of the year with revenues of 3,05 billion euros, an increase of 18% compared to the 2,58 billion obtained in the same period of the previous financial year. The adjusted gross operating margin grew to 268 million euros, compared to 191 million euros in the 1st quarter of 2023 (+40,3%); the margin was 8,8%. The net result was positive for 57 million euros, compared to the breakeven of the first three months of 2023.
The guide does not change Tim. Vivendi announced that it had opted to abstain on the renewal of the board, effectively handing victory to the board of directors' list. Pietro Labriola will therefore remain the CEO of Tim with the support of Cdp and the proxy advisors at the end of the meeting scheduled for 11am on 23 April through the designated representative. No French support for the lists presented by the Merlyn funds (led by Alessandro Barnaba) and Giuseppe Bivona's Bluebell.
general finance, a supervised financial intermediary specializing in factoring listed in the STAR segment - has communicated the financial results for the 1st quarter of 2024, the period closed with a net profit (excluding the third party share) of 4,88 million euros, an increase of 66% compared to the 2,94 million recorded in the 1st quarter of 2023. The intermediation margin also increased, rising from 7,77 million to 10,57 million euros (+36%).
At the STAR segment focus on IVS Group. E-Coffee Solutions (Group Lavazza) and IVS Partecipazioni (majority shareholder of IVS Group) have signed agreements for the promotion of the voluntary cash tender offer for all the shares of the listed company aimed at the delisting. The offer price, equal to 7,15 euros for each tendered share, incorporates a premium equal to 8,1% compared to the official price of the shares recorded at the close of 22 April 2024.
Antitrust has initiated preliminary proceedings against Enel Energia, the electricity and gas sales company of the Enel group, following numerous complaints (over 600) received by the Authority since January from individual consumers and micro-enterprises who complain about "the significant increase in the price of gas and energy supplies electricity in the four-month period October 2023-January 2024 compared to the same period of the previous year". To be monitored then Recordati because JP Morgan raised the target price from 56 to 60 euros, STM with Berenberg which raised the rating from hold to buy (target price from 53 to 49 euros). The same broker raised the target price on Prysmian from 57 to 58 euros (buy rating confirmed).
