The stock market rally it doesn't stop anymore. The above-expected data on US inflation has not in the least affected the mood of European stock markets (nor even of Wall Street) which continue their run, convinced that the rate cut in June, on both sides of the ocean, is now it's a certain thing. On the European front, the markets also ignored the data (worse than consensus) on industrial production of the euro area, which fell in January by 3,2% on December and by 6,7% year on year.
Latest stock market news: new records for Paris and Frankfurt
In this context, Business Square gains half a percentage point (+0,48%), with the banks' increases counterbalancing Erg's fall. Photocopy performance for Paris, which reached a new record above 8.100 points, while Amsterdam it appreciates by 0,32%. More shy Frankfurt (+0,1%) which at the start exceeded 18 thousand points for the first time and then fell again to the 17.980 point area. The spotlight of the German stock exchange is on Adidas, which opened 3% lower and then partially recovered to -0,4%. The impact is the first loss recorded in over 30 years, with the company predicting a decline in sales in North America in 2024 due to the stop of the collaboration with rapper Kanye West, and the consequent suspension of sales of the Yeezy sneaker line , highly profitable. Also in the light Zalando which soars by 14,4% after the release of the 2023 accounts and positive guidance for 2024. Declining Volkswagen (-3,2%) despite the maxi dividend.
Returning to the stock exchanges, the better Madrid which in the middle of the day advanced with momentum, gaining 1,4% in the wake of Inditex, owner of the Zara brand, which rose 5,88% thanks to an increase in sales at constant exchange rates in the first half of the spring season, driven by high-end fashion and strong momentum. Outside the European Union it is above parity London driven by the slight increase in GDP in January (+0,2%). On an annual basis, the decline is 0,3%.
In Piazza Affari, purchases on banks and Leonardo, Erg's crash
It is in Milan Getting very (-3,74%) to wear the black shirt of the day. The company published its 2023 accounts, which closed with positive data and above expectations, but the 2024 targets disappointed investors. In particular, the Ebitda - indicated at 520-580 million - is "considerably lower than our previous estimates of 582 million' the analysts report in chorus.
Also in red A2a (-1,54%) after the publication of 2023 budget and the new industrial plan to 2035, while the difficulties of the title continue Telecom Italy (-0,84%), on which the government also turned the spotlight after the huge changes in volumes of the previous days. Negatively too nexi (-0,93%).
However, the banks led by the Ftse Mib are supporting the Ftse Mib Unicredit which achieved one of the best performances of the session following the words of CEO Andrea Orcel, confident in the possibility of using part of the excess capital for M&A operations. The bank's stock gains 1,86% to 32,33 euros per share after reaching 32,52 euros, touching the maximum levels of June 2015 (32,57), with a capitalization that updates the post-Lehman Brothers highs to 55,6 billion. The other banks were also positive: Intesa Sanpaolo (+ 1,08%), B for Bank (+ 0,88%), Ps (+ 0,84%).
There are also some of the best titles Azimuth (+ 2,18%), Leonardo (+1,95%) following the presentation of the new industrial plan ed Enel (+ 1,27%).
The leap of the Juve, under capital increase, on the news that it will take part in the first edition of the new format of the Fifa Club World Cup, scheduled for summer 2025 in the United States. Lazio down 2,7% after the resignation of coach Maurizio Sarri.
The other markets
In decided downwards it spread between BTP and Bund, which stands at 126 basis points, with the ten-year yield Italian benchmark at 3,58% from 3,6% at yesterday's closing. On the currency, the exchange euro Dollar is at 1,094 (1,092 at the previous closing), while the Petroleum after the OPEC report which left estimates on demand growth in 2024 unchanged. Brent in May is at 82,97% dollars a barrel, while WTI in April is at 78,73 dollars.
The race continues , up 0,2% to $2163.105 per ounce, while the bitcoin has exceeded the threshold of 73.000 dollars.
