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(Il Sole 24 Ore Radiocor) – The new information on Wall Street don’t infect the European inventory markets and so, whereas abroad the Dow Jones index reaches the “symbolic” threshold of 40 thousand factors for the primary time (to then shut adverse, Dow Jones -0.10% to 39,869.38 factors, Nasdaq -0.26% to 16,698.32 factors, whereas the S&P 500 leaves 0.21% on the bottom at 5,297.10 factors), the inventory markets of the Old Continent shut at signal of weak spot awaiting the EU inflation information on May seventeenth.
At the top of the day, nevertheless, Milan’s FTSE MIB supported by the banks remained optimistic. The pattern in costs remains to be below the highlight: import costs within the USA rose above expectations by 0.9% in April, recording the very best improve in two years. However, the information didn’t dampen the arrogance of buyers and economists for a 0.5% minimize in the price of cash by the Fed this yr, additionally by means of two cuts. Encouraging indicators have additionally arrived on the ECB entrance. At a press convention in Lisbon, the governor of the Portuguese central financial institution Centeno mentioned that the decline in inflation in the direction of 2% “is actual and we’re sure that the financial coverage rate of interest will fall”. Net of Piazza Affari, the opposite indices of the Old Continent noticed “purple” on the finish of the session, from Frankfurt (DAX 30) to Paris (CAC 40), passing by means of London (FT-SE 100) and Madrid (IBEX 35).
On Wall Street, the Dow Jones hits a document excessive of 40,000 factors
Wall Street continues to run the place the DJ reached 40 thousand factors for the primary time, after the document closings of May fifteenth, an indication of merchants’ optimism about slicing rates of interest and in addition because of the keenness generated by current developments and views of synthetic intelligence. The credit score nonetheless goes to the weak month-to-month improve in client costs in April, which on an annual foundation slowed from 3.5% to three.4%, in step with estimates. Today, nevertheless, import costs recorded the biggest improve in two years, an indication that progress remains to be wanted on inflation.
Milan holds with the banks, Eni slips on sale of Mef share
Piazza Affari was supported all through the session by purchases on credit score establishments, with Banca Pop Er and Banca Mps on the prime of the FTSE MIB, the place they have been rewarded by hypothesis on potential M&A and by analysts’ judgments on the solidity of the complete sector. The “palme d’or” as an alternative goes to Leonardo – Finmeccanica whereas in the course of the day Snam’s revenue was diminished after the primary quarter accounts, which closed with a revenue rising by 11.3% to 335 million. Well purchased Ferrari together with the remainder of the luxurious. On the opposite hand, the Eni group slips, having paid the value after the Treasury accomplished the sale of two.8% of the share capital by means of an “accelerated e book constructing” which allowed the Mef to position the securities at 14.855 euros for a complete worth equal to roughly 1.4 billion euros. Following the operation, the stake held by the ministry within the oil firm will drop from 4.8% to roughly 2% of the share capital. Sales additionally on Erg, Recordati and Stellantis which misplaced floor within the wake of the European automobile sector.
The inventory markets at this time, 16 May 2024
In the US, unemployment advantages are once more above estimates
In the United States, in the meantime, the variety of staff who utilized for unemployment advantages for the primary time within the first week of May decreased by 10 thousand items to 222 thousand, as reported by the Labor Department; expectations have been for a determine of 221 thousand. Also in May, situations within the Philadelphia-area manufacturing sector worsened, however remained increasing. The index calculated by the Federal Reserve of Philadelphia has in reality fallen from 15.5 to 4.5 factors, in opposition to expectations for a slowdown to eight factors. This is whereas in April the information on development websites and constructing permits within the USA recorded a decrease pattern than analysts’ expectations: the index which measures the beginning of latest development websites recorded a rise of 5.7% in comparison with the earlier month on the annualized by 1,360 million items (however economists anticipated an increase to 1,421 million).