Below are the latest updates on trading in Milan:
11:15 – STELLANTIS jumps nearly 5% after hitting its lowest level in more than 10 years yesterday, as investors seize on some encouraging indications emerging from September vehicle registration data to resume buying the stock.
Based on September vehicle registration data, analysts highlight growth in Europe, although generally below that of the broader market, against a largely stable performance in the United States.
In particular, Equita highlights a rebound of around 8% in France and a further recovery in Italy, where Stellantis outperformed the market, including Leapmotor. In the US, the broker notes that the data do not yet reflect the impact of new models, but believes that “the mix is nevertheless positive for Ram’s growth.”
Banca Akros also notes a divergence between Europe and the United States, although it sees a sequential improvement in market share compared with August. The broker also points out that Stellantis stock listed on Wall Street closed 8% higher yesterday.
9:40 – Milan stocks opened slightly higher, as the market attempts to stabilize after yesterday’s steep decline and awaits US employment data to assess the Fed’s next moves.
The FTSE MIB is up 0.2%, with gains in technology and industrial stocks offset by declines in banks, which are under pressure again today, although at more contained levels than during yesterday’s heavy selling, as the spread widens. UNICREDIT is down 1.4%.
Among the best performers on the FTSE MIB, STELLANTIS is up 3.4%, while PRYSMIAN and TECHNOPROBE are posting gains of around 2.5%.
Before the US data due this afternoon, investors’ attention this morning will focus on the euro zone inflation reading.
