(Il Sole 24 Ore Radiocor) – Milan, 25 April – The disappointment with the US GDP in the first quarter, which grew less than expected, and the increase in American inflation weigh down the European stock markets, which close in the red. The Ftse Mib of Milan thus ends down by 0.97%, after having recovered, like the other price lists, from the lows of the day. In detail, the US gross domestic product grew by 1.6% in the first quarter of 2024, against estimates for 2.4%. Instead, the PCE core inflation data, adjusted for energy and food prices, grew by 3.7%, against expectations for a figure of 3.4%. The declines on Wall Street are also slowing down purchases in the Old Continent. The collapses of Meta (-12.6%) and IBM (-9.2%) are weighing on the US stock markets, both returning from their accounts, while the market awaits the quarterly reports of Alphabet, Microsoft and Intel.
The weakness of the tech sector, even at a European level (Euro Stoxx technology -0.96%), however, does not slow down St (+0.98%) which, after a downward start in the wake of the accounts, closes among the few stocks positively on Piazza Affari.
The banking sector is weak, with the exception of Bper (+1.98%) and MPS (+0.56%). Erg (+0.83%) and Hera (+0.83%) also did well. At the bottom of the list Iveco (-3.14%), Nexi (2.98%) and Moncler (-3.05%) in the wake of luxury and despite the quarterly accounts exceeding expectations.
On the currency, the euro/dollar exchange rate stands at 1.071 (1.068 on the eve), the single currency is also worth 166.7 yen (165.65 yen), while the dollar/yen is at 155.5 (155.03) .
Oil prices fell by more than half a percentage point with June WTI at 82.23 dollars per barrel (-0.7%) and the similar Brent delivery at 87.56 dollars (-0.53%). Natural gas in Amsterdam rose by 3%, trading at 29.89 euros per MWh.
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(RADIOCOR) 25-04-24 17:44:58 (0556)NEWS,ENE,PA,ASS 3 NNNN
