FCA sprint after the new agreement with PSA in China, consumption above the 2019 level

2020-09-15T08:42:21.661Z

Equity indices little moved in Europe. The Milan Ftse Mib oscillates around parity, like Paris. The best performance is for the London stock exchange (+ 0.37%), while Frankfurt falls slightly (0.17%). The stock exchanges are awaiting indications from the US central bank, which meets today and tomorrow and which will give the first concrete indications after the more permissive turn announced by Governor Jerome Powell at the last meeting of the central bankers in Jackson Hole. In evidence at Piazza Affari Fiat Chrysler. New merger agreements with PSA were announced yesterday. FCA shareholders will see the planned extraordinary dividend drop from 5.5 to 2.9 billion. But they will receive part of the shares of Faurecia, a components company controlled by Psa. The market rewards this move: + 5.4% for the FCA share, + 4.8% for the parent company Exor, while the Peugeot Psa share falls by 1.2%. The markets came from yesterday's good performance on Wall Street, especially the Nasdaq of tech stocks, + 1.8% after last week's crash, which was the worst in 6 months. The biggest acquisition ever in the microchip sector has warmed up the markets: the American Nvidia has offered 40 billion dollars for the British ARM. Overnight in China, on the other hand, the increase in consumption in August pushed up the markets: for the first time since the outbreak of the Covid epidemic, sales were higher than in the same month of 2019: + 0.5%, a higher figure of analysts' expectations. Well the stock exchanges in Shanghai and Hong Kong. Japan's Nikkei was down, on the day he was elected to lead the Liberal Democratic Party Yoshihide Suga, the former right-hand man of outgoing Prime Minister Shinzo Abe.