MILAN – The excellent results highlighted by Alphabet And Microsoft they push the entire technology sector, giving good support to the markets since the morning. The stocks took off on Wall Street with the company that owns Google posting double-digit percentage increases and the company founded by Bill Gates advancing by more than 5 points when the American markets reopened.
What dictates the mood of investors is the data oninflation American. Inflation measured by the PCE index, the personal consumption expenditure that the Fed uses as one of the main indicators of price pressures, rose by 0.3% in March, in line with expectations, but the core index is instead it jumped by 2.8%, above the 2.7% expected by the market.
In Asia the yen slipped to a 34-year low after the Bank of Japan kept its main interest rate unchanged but the day was decidedly positive for all the main financial markets. Tokyo closed up 0.81%, while trading was still ongoing Hong Kong advances by 2.6%, Shanghai by 1.1%, Shenzhen by 1.5%, Seoul of 1%, with tech giants like Samsung, Tsmc And Tencent in evidence.
Also noteworthy is the refusal by the mining giant Anglo American of the 31.1 billion pound (36 billion euro) offer made by the rival Bhp.
5.47pm
European stock markets close higher
Positive closing of the session for the main European stock exchanges. The Cac 40 of Paris gains 0.89% to 8,088.24 points, the Dax of Frankfurt 1.33% to 18,161.85 points and the Ftse 100 of London 0.77% to 8,141.26 points. The Ibex 35 of Madrid is also positive, advancing by 1.6% to 11,159.5 points, while the Aex of Amsterdam is up by 1.42% to 882.63 points. A plus sign also for the Zurich Smi, which gained 0.71% to 11,341.1 points.
3.34pm
Wall Street opens higher
Wall Street opens higher, with the S&P 500 gaining 0.69% to 5,083.37 points, the Nasdaq 1.36% to 15,823.9 points and the Dow Jones above parity by 0.08% to 38,114, 7 points.
1.05pm
Europe is rising while waiting for US inflation
European stock markets are continuing to rise, supported by the accounts of big US technology companies, awaiting the publication of the reading of the PCE deflator for March, the Fed’s preferred index for monitoring inflation. The data comes in the aftermath of the disappointing preliminary estimate of US GDP in the first quarter which, combined with signs of persistent inflationary pressures, has fueled speculation on the risk of stagflation for the country. Paris advanced by 0.33%, Frankfurt rose by 0.75% and London recorded an increase of 0.50%. Milan gains 0.98%.
09:11
Europe opens on the rise
The European stock markets raise their heads and start on the rise, driven by the technology sector, thanks to the strong gains of Microsoft and Alphabet. Positive earnings from US tech giants have raised hopes that demand for artificial intelligence will continue to support tech prices in the coming quarters.
However, the mood was overshadowed by fresh concerns about the economic outlook after worse-than-expected US GDP data combined with a core inflation reading to fuel speculation that the country was at risk of stagflation. Today, all eyes are on the reading of the PCE deflator, the Fed’s preferred index for monitoring inflation.
The Cac 40 index in Paris rises by 0.63% to 8,067.40 points, the Dax 30 in Frankfurt advances by 0.53% to 18,019.02 points and the FTSE 100 in London grows by 0.64% to 8,130 ,25 points. In Milan the FTSE MIB gained 0.74%.
08:58
Decreasing start for the spread
The spread between BTPs and Bunds has started to decline, with the yield differential between Italian and German ten-year bonds narrowing by almost 4 basis points, to 135. Yields are also decreasing after the increases in recent sessions: the BTP it loses more than 6 basis points, returning below 4%, to 3.957%.
08:50
Gas on the rise in Amsterdam
Slow start for gas on the Amsterdam market. The price of Ttf futures, the reference point for methane in the Old Continent, rises by 0.4% to 29.9 euros per megawatt hour.
08:35
Anglo American rejects BHP’s offer
Anglo American has rejected BHP’s £31.1 billion (€36 billion) offer. The board of directors of the mining group, we read in a note, unanimously rejected an offer that “significantly underestimates Anglo American and its future prospects” and whose structure is considered “decidedly unattractive” in light of the “uncertainty and the complexity of the proposal and the significant execution risks”.
