Stock exchanges, the US quarterly mood spoils, Milan resisted and closed flat

Listen to the audio version of the article

(Il Sole 24 Or Radiocor) Sales on technology stocks slowed after mixed expectations emerged from the accounts of some big names European stock exchanges. In Milan, Ftse Mib limited damage (-0.03%) thanks to increases by Iveco Group and Leonardo. Paris (-0.09% Cac40) and Frankfurt (-0.08% Dax40) moved in the same vein. Amsterdam came in far behind (-0.68% for Aex). Looking at quarterly results, Microsoft reported higher-than-expected numbers, but with a sluggish outlook, while Dutch giant Asml delivered optimistic indicators in 2023 despite market disappointment in 2022 profitability. Texas Instruments also noted weakness across all markets. Bookmark except auto strip.

Wall Street is moving in the red after some disappointing quarterly results. In particular, Microsoft and Boeing lost shares, after the aerospace giant unexpectedly reported a loss in the fourth quarter, equivalent to $ 1.75 per share, on revenues of $ 20 billion. The consensus was for EPS of 17 cents on revenue of $20 billion.

On the macro front, the Ifo index measuring business confidence in Germany rose to 90.2 points in January from 88.6 in December, in line with expectations that estimated the value at 90.1-90.2, returning to its highest level in seven months, at the June level. . This is the fourth consecutive improvement. The expectations sub-index improved, rising to 86.4 from 83.2 in December, while the index in current conditions fell to 94.1 from 94.4 in December. “Sentiment in the German economy has improved,” said Clemens Fest, IFO President. “The German economy starts the year with more confidence,” he added. The recent decline in natural gas prices, the government’s implementation of a corporate energy price cap, and China’s rapid reopening have lifted the mood on the near-term outlook.

However, investor attention remains focused on central banks: in Australia, rising inflation to a 33-year high (7.8%) increases the bet on new interventions by the Reserve Bank, while today a new 25 basis point revision of before the central bank. Canadian Central Bank.

Buying session of the Iveco Group and Leonardo

Iveco Group It rose to the highest level of the year and closed 3.13% higher after the framework agreement was announced to sell up to 500 electric E-WAY buses to De Lijn, the public transport company in Belgium’s Flanders region. Buses account for approximately 11% of the group’s industrial revenue. Iveco, Equita confirms, did not disclose the value of the contract, “but we estimate that it could be worth 250-300 million euros, or more than 40/50 million annually, which is equivalent to 3% of the division’s sales (less than 1% of total sales). the group). The purchases also gave defense sector bonuses across Europe, taking advantage of the high tension over the development of the war in Ukraine. in Milan, Leonardo It closed at 2.56%, thanks to prospects for some new orders: from the return of the Turkish file for new Eurofighter Typhoon helicopters by the consortium (Airbus, Bae, Leonardo) to the potential order by the Nigerian Air Force for Agusta 109 helicopters, Trekker and M- 346.