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(Il Sole 24 Ore Radiocor) – They archive a week characterized by weakness European stock exchanges who are waiting to understand what the central banks’ moves will be regarding monetary policy. The Ftse Mib, which had managed to close the previous eighth in positive, ends the week with a decline of 0.6%, Frankfurt lost 0.9%, Paris 1.3%, London -2.1 % and Madrid, the worst, left 2.3% on the ground. In Europe, almost all sectors are suffering: among the worst are the retail sector (-4.7%), the oil & gas (-3.3%) and the automotive sector (-3.2%). A plus sign for the travel sector which closed the balance sheet of the last five sessions with a progress of 5.6% and the technology sector (+2.6%). As for stocks, small caps (-3.1%) and utilities (-1.7%) fared worse, while banks did well, rising by 2%. On the Ftse Mib, Mediobanca stands out, gaining 6.5%, followed by Banca Mediolanum (+4.5%) and Bper (+4.4%). Among the worst of note are Amplifon (-8.4%), Iveco (-4.9%) and Diasorin (-4.8%). On the foreign exchange front, the euro weakened against the greenback, falling 0.6% for the week.
Price lists in “red” in the last session of the week
The new record reached by Wall Street did not shock the stock markets Old World which closed the last session on January 19th weak. Milan finished below parity at the end of the day (FTSE MIB), Paris (CAC 40) and Frankfurt (DAX 30). The only exception is London (FT-SE 100) supported by the slowdown in retail sales in the country which could help cool prices by anticipating a rate cut by the Bank of England. Central banks thus continue to be the focus of investors’ attention, while indications are arriving that reduce expectations of an early start to rate cuts.
Wall Street closes higher, Dj +1.05%, S&P 500 records
Wall Street closes higher with the S&P 500 closing the session at historic highs for the first time in two years. The Dow Jones rises by 1.05% to 37,863.60 points, the Nasdaq advances by 1.70% to 125,310.97 points while the S&P 500 makes progress by 1.23% to 4,839.80 points
At Piazza Affari, focus on Eni, banking risk and the Tim network
At Piazza Affari the focus of the session was on the privatizations being studied by the Meloni Government with the possibility that in the spring the Mef could sell a package of 4% of Eni , once the ongoing “buyback” by the oil group is completed. The move is part of the privatization plan to raise around 20 billion euros by 2026. At the forefront of the Ftse Mib is the banking sector with Bpm Bank, Banca Pop Er e Banca Mps rising after the rumors from Il Sole 24 Ore regarding the interest of some institutions in Banca Popolare di Sondrio. Furthermore, in a report UBS analysts remain positive on the performance of Italian institutions on the stock market in 2024 despite last year’s rally and the prospect of progressively decreasing interest rates.
The issue of governance remains open Telecom Italia and the dossier Rai Way, with the possibility, foreseen by Rai’s new industrial plan, that the controlling shareholder sells a stake of up to 15%. Savings managed well with Bank of Milan and utilities with A2a e Italgas. The braking continues Iveco Group, protagonist of a rally that brought prices to their highest levels since last summer. Ultimately they end Leonardo – Finmeccanica e Interpump Group.