MILANO – Positive restart for the European stock exchanges supported by the towing of Wall Street. Yesterday, the US financial center ended the session with a large increase driven by the excellent quarterly data of some listed companies. Gas is still in the spotlight in Europe, with the European Commission today formalizing its proposals to the Council to tackle the energy crisis. Meanwhile, the prices of raw materials continue to fall: in Amsterdam in the morning the price stands in the area of 120 euros per megawatt hour.
A positive day also for the Asian markets, despite the Chinese decision to postpone the dissemination of the GDP growth figure, while the Communist Party congress is underway. Tokyo is in good shape, with trading at + 1.42%.
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The European stock exchanges open positive
Intel lowers the valuation for Ipo Mobileye, from $ 50 billion to $ 20 billion
Intel Downsizes the IPO valuation of the Mobileye global subsidiary. Intel is now aiming for a significantly lower valuation for the self-driving company and expects to sell significantly fewer shares than originally planned. Mobileye was expected to be valued at more than $ 50 billion. Now the target is under $ 20 billion, according to the Wall Street Journal. By selling fewer shares at a lower price, the chipmaker and his advisors hope to lure investors into the IPO, the quoted sources said, and are betting that prices will rise significantly soon after trading begins. The road show for the IPO among potential investors is expected to start today and the first trading day is still scheduled for October 26th. With the IPO, intel wants to give the subsidiary a better profile and attract more business. However, CEO Pat Gelsinger made it clear that the group is not dependent on hypo money and that Intel will retain a controlling stake in Mobileye.
The European stock exchanges open positive
Positive opening for the main European stock exchanges: a few minutes after the start of trading, Piazza Affari gained 0.88% with the Ftse Mib at 21,507 points. Frankfurt scores +1.02, Paris + 0.85% and London + 0.87%.
Opening down for the spread
The BTP-Bund spread opens slightly to 239 points. The yield of the 10-year Italian bond stands at 4.67%.
Euro slightly higher against the dollar
Euro in slight increase this morning on the currency markets: the single European currency is trading at 0.9855 with an increase of 0.5% compared to the prices last night in New York. The yen, on the other hand, fell against the US currency at 148.8 (-0.2)