(Il Sole 24 Ore Radiocor) – After two days of historical records on Wall Street and increases for the European stock exchanges (with that of Milan which updated its highs since October 2008), Europe is showing signs of weakness, with the main indices showing slight drops. Markets come from tonic sessions, with records updated by the American S & P500 and Dow Jones indices. Waiting for the summit scheduled for Thursday 28 October of the board of directors of European Central Bank.
Inflation always in the spotlight
Summit that if initially looming as an interlocutory appointment, in view of the December meeting when the institute will disseminate the new macro forecasts and indications on Pepp, observers believe instead that it could be a meeting cruciale with the ECB which will have to address the issue ofinflation. The price index could run for a long time, affected by the shortage of components and labor, as well as the rise in the cost of raw materials.
Big tech quarterly do not disappoint
In the meantime, the quarterly season continues at full speed, both in the States and in Europe. In the night they revealed the big numbers like Microsoft e Google , as well as Texas Instrument. The question that everyone is asking lately is how much disruption of global supply chains (supply chain) and the rise in the prices of raw materials are weighing on the accounts of companies. For now, the American corporations that have released the quarterly accounts have not shown signs of slowing down, since they have more often than not beaten analysts’ estimates.
Quarterly in focus also in Milan
At Piazza Affari, the eyes will be focused on the companies that approve the accounts for the July-September period: these are Amplifon, Mediobanca, Saipem, Telecom Italia, Unicreditt. Meanwhile, Italgas announced that it has closed the first nine months of 2021 with revenues of one billion (+ 2.8%) and a net profit of 273 million (+ 10.5%). In addition, investors continue to question the banking risk. In the early stages, purchases focus on Enel.
Tokyo Stock Exchange, sitting flat before voting and quarterly
The Tokyo Stock Exchange is sitting flat after the strong gains of the previous session, with investors cautious ahead of Sunday’s lower house elections and the expectation for the quarterly reports of the large Japanese groups. At the end of trading, the Nikkei index of leading stocks closed at -0.03% to 29,098 points while the broader Topix index lost 0.23% to 2,013 points.