The last session of the week in the fall for European Stock Exchangethus Widen the performance gap with weekly Wall StreetWith US stock markets gaining a strong post rally Presidential elections And in the meeting of fed (Even if they breathed a little on Friday). European investors are weighing on sentiments of concern. Possible new duties Which can be promoted by the new US President.
But also the negative reaction to the announcement of the details New stimulus from Beijing, Considered disappointing by most observers, who hoped for measures to support private consumption by families; In particular, the Chinese government announced a multi-year program to refinance peripheral debt with the issuance of 6 trillion yuan of new bonds ($839 billion), thereby increasing the indebtedness of local governments, which has remained stagnant since 2015. The use of the new securities may, for the next three years, be exchanged with other debt securities. Already owned by banks and local authorities and those deemed to be in difficulty, the aim is to lighten their balance sheets.
Today’s meeting
between the European price list Frankfurt’s negative performance stands out, with a fall of 0.76%, London’s fall of 0.84%, and a steep fall for Paris, which was -1.17%. Low off for Business SquareWith the FTSE MIB leaving 0.48% on the floor; Along the same lines, the FTSE Italia All-Share rose, closing at 35,970 points. FTSE Italia Mid Cap consolidates its previous levels (-0.11%); FTSE Italia Star fell (-1.1%).
is at the top of the rankings. The most important topics in Milanwe find Banca MPS (+3.11%), Pirelli (+2.78%), Prysmian (+2.20%) and Saipem (+2.15%). However, the strongest selling hit was Unipol, which ended trading at -6.12%. Azimut Crash, showing a decline of 5.36%. Letter on BPER, which recorded a significant decrease of 4.38%. Iveco fell, with a decrease of 3.94%.
The implications of the Fed and Trump
Investors are surprised. Financial policies This will happen after Fed Chairman Powell said of the central banks. It is advisable to proceed more slowly with cuts.After the rate cut was announced on Thursday. Notably, the US Federal Reserve cut rates by 25 basis points, to 4.50-4.75%, in line with expectations.
In a press conference, Powell He tried to create An optionalFor the short term and for the next year. He said further cuts in December would depend on data coming in over the next six weeks. Election result He won’t have it “no effect” on Fed policy in the short run. “We don’t know the timing or the substance (of Trump’s policies), and we don’t speculate, speculate or assume,” Powell said, declining to be drawn on the implications of the election results for fiscal policy. However, Fed officials already appear to be factoring the possibility of higher tariffs, looser monetary policy and more restrictive immigration into their projections. This could slow rate cuts next year and/or end earlier.
Italian Bank
This week they have. Presented data from several large Italian companies.But most of the focus was on the banking sector, thanks to good results for credit institutions and the announcement of Banca BPM’s takeover bid for asset manager Anima with the aim of creating a “national champion” in life insurance and asset. management
Starting from the last issuing accounts, MPS Revenue grew 31% year-over-year in the third quarter, beating market expectations, thanks to strong net interest income performance. BPM Bank It is confident that this year it could exceed earnings per share by 80%, despite the trend of declining interest rates, closing nine months with a net profit of 1.7 billion (+25% adjusted level). will
BPER It ended the same period with a net profit of 1.11 billion euros, up 2.2 percent year-on-year, with all items of full-year guidance confirmed, including – improved – core capital ratios. But one Uni Credit After a strong third quarter, it raised its net profit guidance for 2024 to 9 billion euros, or about 10 billion on an adjusted basis.
