(Il Sole 24 Ore Radiocor) – While the markets are about to close a quarterly season higher than expected – the luxury group Richemont e Deutsche Telekom they are only the last to have presented positive numbers – le European stock exchanges they are shy. The cautious trend comes after a week in which – between the rise in Covid cases and the record run of inflation in the US but also in Germany and China – the lists have struggled and the indices worldwide are set to close their first decline weekly from the beginning of October. In Piazza Affari, the FTSE MIBis little moved, and between the big shots Pirelli & C after the quarterly report and the slight adjustment of the 2021 guidance on revenues and cash, down Telecom Italia with the stalemate on the board which instead should, according to expectations, restart the dossier of the single network and discuss strategic issues. Zurich backed by Swatch and Richemont shows the best performance.
Overall, investors are looking at the Fed’s future moves which, in light of the record high cost of living, could accelerate on tapering or, in the hardest scenario, raise interest rates already in the first part of next year. In the meantime, there are signs of a restart from China where ‘Singles’ Day’ – the largest online shopping event in the world, a sort of ‘black Friday’ but on a larger scale – recorded a new sales record for Alibaba. . On the macroeconomic front, the American consumer confidence index is scheduled.
In Milan Pirelli and Azimut the best
In Milan it is the protagonistPirelli & Ci which reported quarterly results beyond forecasts (+ 10.7% revenues to 1.41 billion and an operating result of 221.4 million) and slightly raised the estimates for the end of 2021: now expects revenues between 5.1 and 5 , 15 billion. Brilliant Azimutt thanks to a net profit over the nine months up 40% to 322 million euros, which hit the 2021 targets early. Telecom Italia: the board of directors asked by the first shareholder Vivendi and by some directors to review the organization and strategies did not lead to decisions and the market has postponed every bet to the new industrial plan at the beginning of 2022 while the press rumors are divided among those who now see finally, the experience of CEO Gubitosi and those who are convinced that the manager will lead the reorganization of the group.
Buoyant Tokyo Stocks: Nikkei Closes Up 1.1%
A lively session for the Tokyo Stock Exchange which closed a day well oriented right from the start, in the wake of the recovery recorded on the Nasdaq and thanks to the weakening of the yen against the dollar. The awakening of the US technology list has given wings to Japanese technology stocks. The index NIKKEI 225 of the 225 leading titles it closed at 29,609 points. On the other Asian markets, Seoul gained 1.5%.
Toshiba, the split is underway. Three companies will be born
Toshiba splits into three. The Japanese industrial and technological conglomerate has confirmed the plan to split its activities within two years which will create three independent companies. Toshiba thus responds to the pressure of its partners who have long been asking for an enhancement of the group. In detail, two new companies will be created and will be listed. The former will group Toshiba’s energy and infrastructure businesses while the latter will focus on electronic equipment and data collection. The third company, that is the old Toshiba, will keep the other activities including the stake in Kioxia, the Japanese chip company and the stake in Toshiba Tec, the subsidiary already listed separately. Satoshi Tsunakawa, president of the group, comments in a note: “in order to improve our competitiveness, each business today needs greater flexibility to seize the opportunities and win the challenge in their respective markets”.
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