Clear prevalence of sales today on the markets. The Ftse Mib closed -2.4% at 20,352 points, on a 22-month low. Markets suffered again today with US jobless claims coming in lower than expected, at lows since late April, fueling fears of a Fed remaining aggressive in raising interest rates in upcoming meetings without worrying. too much of the repercussions on the labor market. In Europe, a new flare-up of inflation in Germany: + 10% yoy in September from the previous + 7.9%.
“With investors’ concerns centered on the economic slowdown, on inflation that is struggling to show signs of slowing down, on new ECB hikes, on the levels of indebtedness of countries as well as on their management and finally with the new tensions on the Russian front, amid sabotage, referendums and new sanctions, the fragile European lists continue their inexorable correction ”, comments Gabriel Debach, eToro market analyst.
Stellantis (-4.77%) and Stm (-5.4%) are among the troubled big companies in Piazza Affari, which pay for the growing recessive fears that penalized all cyclical sectors. In the meantime, Porsche AG made its debut today with the largest European IPO of the last decade.
Among the banks -2.57% for Intesa, -2.71% for Unicredit and -2.84% for Bper. Poste Italiane also struggled (-2.07%) which through Poste Vita launched a voluntary takeover bid on Net Insurance ordinary shares at a price per share of € 9.50. The takeover bid is aimed at delisting.