The Milan stock exchange saw a slight decrease in the last hour of trading, but remained at +0.75, over two-tenths above the Eurostoxx index of the top 50 European stocks (+0.53%). Only London closed slightly down at -0.24%. Investors’ attention today was focused on quarterly financial results. Poste Italiane saw a 4.32% increase after reporting better-than-expected results. In the first half of the year, revenues increased by 2.6%; operating margin and profit decreased, but excluding extraordinary items, both would have increased by 14%. Intesa Sanpaolo also reported positive results, ending the first half of the year with a net profit of 4.8 billion euros, a 12.9% increase compared to a year earlier. The entire banking sector saw gains, from Popolare di Sondrio (+4.68%) to Mps (+2.68%).
However, after reporting their financial results, Recordati (-6.83%) and Diasorin (-5.79%) saw decreases, while Amplifon was up by 2.73%. Campari also declined by 2.82%, despite increases in revenues and profit. The market is concerned about the future outlook of the sector. Diageo, a competitor, also saw a 5% decrease following their quarterly report.
Investors are now waiting for the financial reports of tech giants like Microsoft, starting with a late-night release. The highly anticipated meeting of the Bank of Japan will take place overnight. Tomorrow night, the Federal Reserve, the American central bank, will announce their monetary policy decisions. In the meantime, on Wall Street, the S&P 500 index is down by 0.75%, the Nasdaq is down by 1.43%, while the Dow Jones is almost unchanged. The market is weighed down by a 6% decrease in Nvidia, a 3% decrease in Tesla, and a 10% decrease in Crowdstrike Holdings.
Overall, the Milan stock exchange maintained a positive trend, despite slight fluctuations, with most stocks showing gains after reporting positive financial results. Quarterly reports from companies like Poste Italiane and Intesa Sanpaolo contributed to the market’s positive momentum. However, some companies saw declines in their stock prices following their financial results, causing some concerns about the future of the sector. Market watchers are now eagerly anticipating the financial reports of tech giants and major central bank meetings for further guidance on market trends and economic outlook.
In the international market, Wall Street saw mixed results, with the S&P 500 and Nasdaq experiencing declines while the Dow Jones remained relatively stable. The decrease in tech stocks like Nvidia and Tesla, as well as other sectors, contributed to the overall negative trend in the market. Investors are closely monitoring upcoming events, such as the Federal Reserve meeting, for potential impact on market movements. The performance of major global indices and individual stocks will continue to be influenced by a combination of corporate earnings reports, economic indicators, and external events, shaping investor sentiment and market dynamics.
