Home » October in recovery for the European stock exchanges, Milan + 4.64%. Spreads at the top from November 2020

October in recovery for the European stock exchanges, Milan + 4.64%. Spreads at the top from November 2020

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(Il Sole 24 Ore Radiocor) – The month of October ends with a positive balance for the European stock exchanges, which saw the gains made from the beginning of the year further increase even if significant differences emerged between the lists. In the last month, the Ftse Mib gained 4.64% and from the beginning of the year 20.88% (+ 1.14% in the last week). The Stoxx Europe 600 recorded an increase of 4.55% in October, bringing the balance from the beginning of the year to + 19.17% (+ 0.77% in the eighth). Paris and Amsterdam, which is the pink jersey in the month and in 2021 so far, have also moved in line with Milan. The Cac40 in October gained 4.76% and from the beginning of the year 23.04% (+ 1.44% in the eighth), when the Aex in Amsterdam registered a + 5.05% in October, 29.83% from the beginning of the year, while in the week just ended it lost 0.25%. Frankfurt’s Dax40 in October was up 2.81%, 14.36% year to date and 0.94% in the last week. London’s Ftse100 posted + 2.31% on month, + 12.03% on year and + 0.46% in the eighth, when the Madrid Ibex35 gained 2.97% on month, the 12.19% year to date and 1.7% in the week. At European level, in October all sectors moved up, except for telecommunications (-3.76%), with that of Travel remained almost flat (-0.05%). The best monthly performances were those of the Utility segments + 8.19% and Financial Services + 7.67 percent.

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Europe sluggish in the last session of the month

Sluggish closing for European stock exchanges which, however, show a decisive recovery from the lows of the day. In Piazza Affari the Ftse Mib and in Frankfurt the Dax40 both lost 0.05%, when in Paris the Cac40 reversed course on the final and gained 0.38%. While pr the publication of the quarterly reports is proceeding apace on both sides of the ocean, the attention of investors today has focused on macro data. In particular, the data on the Pil in the third quarter of the euro area (+ 2.2% and + 3.7% year-on-year) and of the main economies of the area (with Germany growing less than expected) and inflation for the month of October, which recorded a surge of + 4.1% on the year. Analysts, however, believe it is only a temporary movement. Meanwhile, in the US, PCE inflation rose by 0.3% monthly in September and 4.4% year-on-year, the highest change since 1991.

After a weak start, Wall Street has turned the tide during the last session of the month of October. The S&P 500 and Nasdaq Composite updated their respective intraday records, with tech stocks now up 0.15%, following a downward start due to sharp falls by Apple and Amazon due to the quarterly reports. The shares of the two companies remain in sharp decline, but records of Microsoft and Tesla are recorded; Microsoft has thus surpassed Apple, becoming (again) the largest capitalization company. Facebook also did well, after changing its name to “Meta”.

Eni did well in Milan, Bper and Bpm crash

In the session of Friday 29 October, the last of the week and of the month, Bper (-6.44%) and Banco Bpm (-7.28%) were the protagonists in Piazza Affari, heavily penalized by sales due to the lack of speculative appeal on the M&A front, in light of the lowering of the incentives for bank mergers introduced with the 2022 Budget Law presented by the Government. Sales again on Tim (-2.96%), while investment houses line up their doubts about the business trend – after the quarterly report and the revision of the guidance for the end of the year – but also look at the theme of new strategies and possible reorganization. Vivendi, as anticipated by Radiocor, has asked for an extraordinary council to be convened to discuss a reorganization of the business. Opposite sign for Eni (+ 1.97%) after the publication of the accounts: the third quarter closed with a net profit of 1.2 billion euros, against a loss of 503 million in the same period of 2020 characterized by the Covid crisis .

In the spotlight Exor, Saipem still weak

Among the stocks with the highest capitalization, investors rewarded Recordati (+ 2.38%) which yesterday published the results of the first 9 months of 2021, closed with revenues up by 5.7% to 1,156.2 million euros and a net profit of 296.4 million (+ 8.1%). Moncler (+ 1.47%) and Atlantia (+ 1.77%) also did well. In the spotlight Exor (+ 1.22%). The holding of the Agnelli-Elkann family last night with closed markets announced that it has signed an agreement with the French group Covea aimed at the sale for 9 billion dollars of the subsidiary active in the reinsurance sector PartnerRe. A similar deal at the same price was blown last year due to the outbreak of the Covid-19 pandemic. According to press rumors, the negotiations between Exor and Covea had restarted and last night confirmation from the holding arrived, which continues to update its all-time highs. Looking at the other titles in the Exor galaxy, Ferrari + 0.74%, also on the highest level, Stellantis -0.21%, Cnh Industrial + 0.27% and, outside the main segment, Juventus (-1.76%) , on the day when the shareholders’ meeting approved the financial statements and the capital increase up to 400 million euros. Sales day also for St (-1.05%), penalized by the negative trend of the tech sector in New York after the accounts of Apple and Amazon disappointed expectations. Negative session for many stocks in the utility sector in Europe including A2A (-1.81%) and Terna (-1.65%). After yesterday’s sharp drop (-10.98%) in the wake of the accounts and the new plan to 2025, sales on Saipem still lost 2.32 percent today.

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