Today’s Stock Exchanges, April 26th. Fear for the banks returns, weak price lists
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MILAN – Lists fluctuate between the renewed uncertainty around the banks, unleashed once again by the US with First Republic, and the reading of Big Tech’s quarterly reports which seems to have started off on the right foot thanks to Microsoft and Alphabet. According to reports from Bloomberg, the American regional bank that began to wobble with the explosion of the Svb case is considering the sale of 50-100 billion dollars of assets in an attempt to relaunch itself. Yesterday the share halved its value after the quarterly accounts revealed a flight from 100 billion deposits and contact with the US Treasury to contain the damage. For the moment, the market’s reaction does not appear to be raw nerves as in the case of Svb, if it is true that the index of regional banks lost “only” 4% and other institutions reported growing results. Even in Asia, the initial backlash was followed by a rise in the indexes: weak and at their lowest for a month, but without bloodbaths.
Germany improves consumer confidence
Germany’s GFK consumer confidence index rose more than expected in May. The indicator advances to -25.7 from -29.3 and against expectations for -27.9. It is estimated that the loss of purchasing power due to inflation will be less than feared. After a drop in April, the index continues its strong recovery that began in November, when it recorded a score of -41.9 points after four months of collapse in the face of soaring inflation. However, the index remains “below the pre-pandemic levels of about three years ago,” notes GfK expert Rolf Burkl.
Mixed bags in Asia
Asian stock exchanges proceed mixed. Concerns over the health of global economies weigh heavily after the Wall Street crash, despite some better-than-expected quarterly results. In Hong Kong, the Hang Seng index rose by 0.82%. In China, the Shanghai Composite Index dropped by 0.10% while the Shenzhen Composite Index recorded +0.23%. On the Tokyo Stock Exchange, however, the Nikkei lost 0.71%.
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