European stock markets continue the session in positive territory, and do not react to the latest bad news on the German economy, increasingly under pressure, especially in industry.
The Ifo business confidence index fell to 85.4 points in September, its fourth consecutive decline, above expectations.
However, the markets are moving in green, in the wake of the Chinese stock market rally following the support measures announced by the central bank of Beijing.
Milan gains 0.6%, London and Madrid have similar positive variations, while the best is Paris +1.4%, after the presentation of the economic team of the new French government.
At Piazza Affari, eyes are on the banking sector, which is recovering from yesterday’s declines. In particular, Unicredit: yesterday it lost 3% after German Chancellor Olaf Scholz stopped a takeover of Commerzbank that was deemed hostile. Today, however, the stock gained 2%.
Stellantis shares also performed well, rising 1.5% on news that the car company has begun procedures to identify a successor to the current CEO, Carlos Tavares, whose contract expires in 2026.
Oil prices continue to run. European Brent is trading above $75 a barrel, American WTI above $72.
