After a weak opening, Wall Street proceeds lower. The Dow Jones lost 1.36% to 33,583.30 points, while the Nasdaq drops 3.03% at 12,611.17 points while the S&P 500 drops 1.81% at 4,217.32 points. Investors are still concerned, in particular, by what is happening in China with the new one wave of Covid-19 which led the authorities to impose severe lockdowns in the largest cities of the country, starting with Shanghai (whose stock market lost 1.4%). As it rises further the tension of Western countries with Russia over the supply of weapons to Ukraine and on energy raw materials. Before closing, big tech quarterly are expected (April 26: Microsoft and Alphabet; April 28: Amazon, Twitter and Apple).
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To further destabilize the markets, too the hypothesis of a stop or a slowdown in gas supplies to Poland that Russia would be ready to operate. The sudden acceleration in the price of gas on European markets has touched the methane, rather calm throughout the afternoon, a maximum of 107 euros per megawatt hour, with an increase of 17% compared to Monday 25 April. The price of gas on the reference price list in Amsterdam then tried to settle around 100 euros. The hypotheses of stopping Russian supplies to Poland they were cited by Bloomberg from Polish specialized and information sites.
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Tesla and Twitter are sold
The purchase of Twitter (-3.3%) by Elon Musk unnerves investors, who proceed with the sale of Tesla securities, now down 10.3% to $ 895. Twitter’s board of directors accepted the $ 44 billion offer Musk, who secured $ 25.5 billion in funding, of which 12.5 billion guaranteed by Tesla securities. Investors are concerned that Musk, already struggling with Tesla and SpaceX, may spend less time on the electric car company as seems intent on spending a lot of time transforming Twitter. The closures in China due to Covid-19 also weigh heavily, with repercussions on production in Shanghai. Since the beginning of the year, Tesla’s stock has lost 15.5%.
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European stock exchanges
Piazza Affari fails to rebound and closes in negative in the wake, like the rest of Europe, of the negative trend of Wall Street. The Ftse Mib index closed down 0.95% at 23,681.76 points. Fears about global growth, fueled by anti-Covid lockdowns in China, the war in Ukraine and the‘tightening of monetary policy by the Fed. Following the negative wake of the American stock market, also caused by the macroeconomic indices released in the course of the afternoon, the European stock markets also closed the session uncertain and close to par. Frankfurt lost 1.20%, Madrid 1.59%, Paris 0.54%while London was the only one that remained balanced at + 0.08%.
On equity, tech stocks sell 3%, communications sector 4%, while the energetic rises by 2% after the heavy drops of the previous session. .
Stellantis and Unicredit lose 3.1% and 3.2% respectively, while Tenaris rises by 4%. Iveco slows down the race, up by 2.3% anyway. Pirelli (-2.5%) and Cnh (-1.9%) also lost. The BTP-Bund spread is calm at around 174 basis points.
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Changes and energy
On the currency market, the euro remained at its lows for two years against the American currency, marking $ 1.066 (1.0817 closing yesterday). Euro / yen at 135.8 (from 138.83). Dollar / yen at 127.42 (127.85 at start). Oil up 2% both in London ($ 104.29 per barrel in June Brent) and in New York (100.73 on WTI June). As well as European gas prices by 5% to 97.5 euros per megawatt hour.
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