(Il Sole 24 Ore Radiocor) – The European Stock Exchanges – and Wall Street as well – closed the session lower, crushed by technology stocks and, above all, by car stocks, which experienced a black day after the disappointment for the accounts of Tesla – which closed down 9.8% – e Renault. Thus the FTSE MIB of Milan finished down, although it recovered from the lows of the previous hours and moved away again from the psychological threshold of 28,000 points, the CAC 40 of Paris, the DAX 40 of Frankfurt, the IBEX 35 of Madrid, the Amsterdam AEX and the London FT-SE 100. In Wall Street indices are also redwhich saw the Dow Jones drop 0.33%, the Nasdaq trailing 0.81% and the S&P 500 down 0.59%.
Furthermore, on the American macro front, there are no elements of comfort: unemployment benefits are above estimates, which have risen by 5,000 applications to 245,000 (estimates at 240,000). The Philadelphia Fed’s manufacturing index was also negative, worse than estimates at -31.3, the eighth consecutive negative reading.
Investors therefore prefer to lighten their positions, waiting for clearer indications from the quarterly financial statements and from the macro picture, to understand the next moves of the central banks. The president of the ECB Christine Lagarde, confirmed that inflation is too high and that the ECB will do everything to bring it to the 2% target in the medium term”. “After the rapid recovery after the mini-banking crisis, the stock markets are at a standstill” , highlights Luigi Nardella of Ceresio Investors. «The evolution of the economic cycle remains highly uncertain e all scenarios are still open: economic recovery or slowdown, severe recession, declining or still sustained inflation. The reactions of central banks they are therefore more difficult than ever to predict. The quarterly reports have so far shown general resilience, but the forecasts for the next quarters are affected by the uncertainties of the macro-economic scenario”.
Gruppo 24 Ore launches 2 market indexes with Morningstar
The 24 Ore Group has launched two Italian market indexes with Morningstar. In particular, il Morningstar breakinglatest.news Italy 40 measures the performance of Italian stock markets, with a focus on the top 40 Italian stocks by market capitalisation. The index focuses on core financials, without specifically considering ESG principles. Stocks are selected from the Morningstar Italy index and positions are weighted by market capitalization. The index is an excellent tool for monitoring the performance of the Italian stock market.
Il Morningstar breakinglatest.news Sustainability 24 aims to give particular visibility to Italian stocks with the lowest ESG risk in the Morningstar Italy index. It represents the 24 companies among the blue chips, diversified by sector, with the best performance on ESG criteria within the Morningstar Italy index. In partnership with leading ESG research, rating and data firm Morningstar Sustainalytics, the index is based on the Morningstar Sustainalytics ESG Risk Rating which is attributed to each company in the Morningstar Italy index. The Morningstar Indices exclude companies that have severe ESG risk or do not comply with the Ten Principles of the United Nations Global Compact, as well as those operating in sectors such as tobacco, controversial weapons and civilian firearms.
Stellantis black jersey, down also St
In Europe, it is above all the auto sector that weighs on the stock: the Tesla price cut to various models in the price list, it is fueling concerns about margins and is primarily weighing on Renault, which has also released quarterly numbers. In the first quarter of the year, worldwide sales amounted to 535,000 vehicles (+14%) while group revenues stood at 11.5 billion euros, +29.9%. The German BMW and Volkswagen are also down, while in Milan Stellantis marks the pace after the surprise replacement of the financial director Richard Palmer – already in FCA and one of the architects of the merger with PSA – with Natalie Knight, who will join the company as Executive Vice President and CFO. Natalie Knight currently serves as CFO at Ahold Delhaize, a major global food distribution company based in the Netherlands.