European stock exchanges ignore the slowdown in Chinese manufacturing in April and travel in positive territory in the April 30 session. On the eve of the continental indices slipped into “red”, particularly discounting sales on the auto sector, while Wall Street closed on new records. But now the Chinese government’s new squeeze on tech groups is worrying: Beijing has convened 13 companies to impose stricter regulation on them, along the lines of what has already been done with Ant, the financial platform of Alibaba founder Jack Ma. carpet remains the mega-plan to aid the economy after Covid, announced by US President Joe Biden, the reassurances of the Fed and the quarterly reports of the US giants. In Piazza Affari, the FTSE MIB moves upwards driven by Telecom Italia, thanks to the news on the single network, and by the holding company Atlantia grappling with the new CDP offer for Autostrade per l’Italia.
Meanwhile, the day of financial events sees the Bank of Italy disseminate the Report on financial stability. Among the macro data expected, GDP in the first quarter in various Eurozone countries, unemployment in March and from the US the SME index in April, household confidence and consumer spending in March. Finally, for Italy, the rating will be revised by Dbrs and for Germany by Fitch.
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At Piazza Affari, Tim and Atlantia take off, down Eni
Among the Milanese stocks with the highest capitalization, Eni slips after the publication of the quarterly accounts. The holding company Atlantia did well after the consortium formed by Cdp, Blackstone and Macquarie sent the company “some refinements to the contract for the purchase of the 88.06% stake” in Autostrade per l’Italia. Sales on Stmicroelectron, hit by gains after April 29 hikes. The release of the single fiber dossier, with Cdp making an offer to Enel for the acquisition of a 10% stake in Open Fiber, in the meantime pushes Telecom Italia’s quotations. Purchases also on Leonardo – Finmeccanica and Tenaris.
Outside the main lists, the Giglio Group collapses after the accounts.
The Tokyo Stock Exchange closes at -0.8% due to a rise in Covid cases
Finally, the Tokyo Stock Exchange closed in the red after a session marked by investors’ caution in the face of the increase in cases of Covid-19 in Japan and by taking profits before a series of holidays. The Nikkei Index lost 0.83% to 28,812.63 points, dropping 0.7% over the course of the week. The Topix index lost 0.57% to 1,898.24 points. Notably, the Nikkei was hit by stock sales to lock in profits ahead of Japan’s Golden Week. In Hong Kong, the Hang Seng index is down 1.72%, while Shanghai and Shenzhen are also down.