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Latest stock market news: Piazza Affari, queen of Europe, over 30 thousand points at the highest level since 2008

In a little-moved Europe, Milan achieved a new record since 2008 at 30.910 points, driven by the banks and Saipem – Among the leading stocks of the Old Continent, Novo Nordisk stands out, while H&M collapses after the disappointing quarterly

Latest stock market news: Piazza Affari, queen of Europe, over 30 thousand points at the highest level since 2008

Business Square sets a new record since 2008 at 30.910 points, a goal achieved also thanks to the performance of the stock symbol of this rally: Unicredit, today at the top of the index thanks to a rise of 2,3% to 21,66 euros, the highest level in the last eight years, extending the January performance to +11%. Economy Minister Giancarlo Giorgetti asked for clarification on the potential interest of Italy's second largest bank in the Popular of Sondrio. The group has leaked that it will invest one billion euros to acquire a stake in the development area of ​​the Scalo Farini real estate project, in order to also build their new headquarters and centralize the entire Milanese workforce in a single point. The operation will give a new impetus to the real estate boom of the Lombardy metropolis. The bank led by Andrea Orcell it is however preceded this morning by Bpm bank and Bper, confirming the market's expectations on the trend in rates.

Glory day for Novo Nordisk, while H&M collapses and loses its CEO

Meanwhile, the markets are preparing to receive the indications coming from the Fed at 20pm (Italian time). The European stock markets are little moved. EuroStoxx50 index unchanged. It stands out among the leading titles of the Old Continent Novo Nordisk. The world leader in anti-diabetes (and anti-obesity) treatment rises by 2,7% after the presentation of data for the quarter. Operating profit beats expectations, 2024 will be another year of record double-digit growth in sales and operating profits thanks to its popular weight loss drug Wegovy. The Danish company said it expects sales growth of between 16% and 25% and an increase in operating profit of between 19% and 28% this year, thanks to increased demand for Wegovy and the diabetes drug Ozempic, which contains the same active ingredient. Black day for H&M (-12%). The Swedish fashion retailer reported a decline in margin in the fourth quarter, and the CEO Helena Helmersson has decided to resignDaniel Ervér will replace him with immediate effect.

Saipem recovers in Piazza Affari

Returning to Business Square, recover Saipem +3% which makes it known that the Castorone pipe-laying vessel did not suffer any damage in the accident in the Australian offshore, repair activities are underway. Initial assessments show that the cause of the accident could be a software anomaly.

Also worth following: 

  • Enel after the Fitch agency confirmed the long-term rating at “BBB+” and the short-term rating at “F-2”. The outlook remains “stable”.
  • Team. The Treasury and KKR have agreed the terms of the bid KKR will submit for its Sparkle submarine cable unit, three sources familiar with the matter said on Tuesday.
  • Pirelli It said it is cooperating fully with the antitrust authority as part of an investigation into alleged price cartels in the tire manufacturing sector and that it has always acted fairly.
  • Generali will present the new strategic plan at the beginning of next year, said CEO Philippe Donnet during the Investor Day in which management took stock of the 2024 plan and recent acquisitions and announced the launch of a 500 million buyback of euros this year.
  • Rai Way. The Clearway Capital fund has confirmed that it is a shareholder with a long-term investment perspective.
  • sapphire (+6%), closed the last quarter of last year with an increase in net sales, growing at constant exchange rates by 1,7%, but showed a decline in the year as a whole mainly due to the weakness of the market North American.

Wall Street made little move while awaiting the Fed and big tech quarterly reports

A Wall Street the spotlight is on decisions of Fed. But the attention of operators is focused on the disappointing quarterly results of technology stocks which have started sales on the most speculated values ​​starting from A (Google) which in pre-stock market trading leaves around 6% on the ground. In deep red too Microsoft despite the brilliant accounts: in this case the forecasts are disappointing, operators expect more from Artificial Intelligence. 

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