MILAN – Europe rises cautiously in a session with no clear direction for stock markets, mixed in Asia too Tokyo which ended slightly positively (+0.3%). “Investors are carefully watching producer price data coming out of the U.S., which “could be used to confirm or deny” the consumer inflation report, which came in above expectations earlier this week, said Matt Simpson, senior market strategist at City Index, at Bloomberg. China’s announcement of funds to encourage consumers and businesses to invest in new equipment and consumer goods to boost overall economic growth of 5% was not particularly impactful for markets.
Eni will increase the dividend to 1 euro per share in 2024
The remuneration of Eni shareholders will be increased. The group intends to distribute between 30 and 35 percent of its annual operating cash flow through dividends and buybacks, up from 25 to 30 percent previously. Eni underlines this in the strategic plan 2024-2027, presented during the Capital Markets Day.
The proposed dividend for 2024 is 1 euro per share, an increase of over 6%, and the buyback is set at 1.1 billion.
Europe confirms itself positively and looks at the US data
European stock markets are all rising on a range of data from the US. Meanwhile, inflation on the Old Continent cooled to 2.8% in Spain in February. Among the individual places, Paris (+0.77%) is the fastest. Madrid is up 0.2%, as is Milan, where Leonardo (+4.3%) and Tim (+3%) are at the top. Frankfurt recorded an increase of 0.16%. London is marginal (+0.03%).
Oil: IEA revises demand estimates for 2024 upwards
The International Energy Agency estimates oil demand will rise by 1.3 million barrels per day (bpd) this year, one million bpd less than in 2023 but 110,000 bpd more than forecast for the previous month. This is because Houthi attacks in the Red Sea are delaying deliveries
Mixed closes for Asian stock markets
Major Asian stock markets closed mixed. Investors are awaiting fresh clues from a range of U.S. macroeconomic data ahead of the Federal Reserve’s meeting next week.
Attention now turns to producer price data from the world’s largest economy, which will be released today and will be included in the Fed’s monitored personal consumption expenditures (PCE) price index. Hong Kong’s Hang Seng Index closed the session down for the second straight day, losing 0.71% to 16,961.66 points. The Shanghai Composite Index lost 0.18% to 3,038.23
points, while the Shenzhen Composite Index of the second Chinese stock exchange is 0.59% on the floor at 1,758.10 points. The Kospi index rose by 0.94% to 2,718.76 points. The Tokyo stock market closes higher after overcoming initial losses amid a possible policy change from the Bank of Japan (Boj) at its meeting next week. The benchmark Nikkei 225 index rose 0.29% to 38,807.38 points, while the broader Topix index rose 0.49% to 2,661.59 points.
Milan are on a cautious rise, Leonardo is brilliant
The Milan stock exchange confirmed its performance without any problems and traded cautiously +0.21% at 33,960 points on the Ftse Mib. Leonardo jumps onto the list as JpMorgan raises its price target. The stock is up 4.4%. Cucinellli is also at the top (+2.4%). Tim (+2.3%) and Erg (+2.3%) are also recovering, but Equita remains at “Hold” on the balance sheet. Iveco rises 1.97% and has agreed with Mutares to sell Magirus. The banks were weak with the exception of Unicredit (+0.92%). CEO Orcel announced the goal of exceeding 2023 results and reiterated that mergers and acquisitions will only be carried out if they are strategically important, recalling the bank’s large capital position. Weak Bper (+0.08%) Mps (-0.6%) among possible prey. Among other stocks, Amplifon lost 0.98%, Azimut lost 0.96% and Stellantis lost 0.88%.
Hong Kong closes negatively, fears weigh on Country Garden
The Hong Kong stock market closes in the red on new fears about real estate giant Country Garden and new tensions between Beijing and Washington over TikTok: the Hang Seng index falls 0.71% to 16,961.66 points.
The spread opens slightly higher
The spread between BTPs and Bunds starts slightly higher at 123 points, but remains at the lows of late November 2021. The 10-year yield rises to 3.613%.
Cautious increases in early stages in Europe
The European stock markets are initially positive. Paris gains 0.25% with the Cac 40 at 8,158 points. Frankfurt rose by 0.23%, the DAX stood at 18,002 points. Weak London, which is below parity (-0.1%) with the Ftse 100 at 7,764 points.
Leonardo, supported by JPMorgan, takes off on the stock market
Leonardo goes public and gains 3.2% to 21.35 euros. JpMorgan increased its price target from 20 euros to 27.5 euros. The group is thus continuing its run on Piazza Affari after presenting the plan for 2028 in the past few days and reporting the dividend doubled to 0.28 euros per share on the balance sheet.
Cautious start for Milan
Cautious upward start for the Milan Stock Exchange, in line with other European markets. In early trading, the FTSE Mib rose 0.17% to 33,941.37 points.
Asian stock markets mixed, Tokyo closes +0.29%
The main Asian stock markets are mixed. Investors are awaiting fresh clues from a range of U.S. macroeconomic data ahead of the Federal Reserve’s meeting next week. Attention now turns to producer price data for the world’s largest economy, which will be released today and will feed into the Fed’s monitored personal consumption expenditures (PCE) price index Bank of Japan (BOJ) policy at its meeting next week. The benchmark Nikkei 225 index rose 0.29% to 38,807.38 points, while the broader Topix index rose 0.49% to 2,661.59 points. Hong Kong’s Hang Seng Index fell more than 1% to 16,902 points after a rising start. The Shanghai Composite Index fell 0.63% to 3,023.95 points, while the Kospi Index in Seoul rose 0.78% to 2,713.68 points.
