Today’s Bags, March 24: Europe, Wall Street Struggle Amid Tariffs and PMI
South Korea, Mexico, Russia, Vietnam, and Italy are among the countries mentioned.
Wall street Opens Optimistically
Table of Contents
- Wall street Opens Optimistically
- Fincantieri Returns to Profitability After Five Years
- BYD Surpasses Tesla in 2024 Revenue
- Iren’s Profit Increases Despite Revenue Decline
- Intesa Sanpaolo: ENPAM, Forensic Cassa, and Inarcassa Support Messina’s Reappointment
- Iren to Acquire Full Capital of Aegea
- France: Manufacturing PMI Index Rises in March
- BTP: Spread Descends at Start, Ten-Year Return at 3.89%
- Juve +2.6% After Coaching Change
- Milan Stock Exchange on the Rise
- European Markets Open Positively
- Gold Remains at Maximum, Spot Price at $3,025
- Market Watch: Global Economic Updates - March 24, 2025
- Market Watch: Key Financial Trends and Updates (March 24, 2025)
- overview
- Key highlights
- Frequently Asked Questions (FAQ)
- What is the current status of the Dow Jones Industrial Average?
- How is the S&P 500 performing?
- What is the performance of the NASDAQ Composite?
- How is oil trading?
- What is Fincantieri’s financial performance?
- How did BYD perform compared to Tesla in 2024?
- What were Iren’s financial results for 2024?
- What are the key drivers of Iren’s expected improved results?
- Top Performers
Anticipation of potentially lenient tariffs, applied selectively and with adaptability, is boosting confidence in U.S. markets as the week begins. The Dow Jones Industrial Average is up 333.84 points, or 0.80%. The S&P 500 has risen 61.90 points, or 1.09%, and the Nasdaq composite is up 277.11 points, or 1.56%. Nymex WTI oil is trading at $68.44 per barrel, a gain of 0.23%.
Fincantieri Returns to Profitability After Five Years
Fincantieri, the Cantieristica and Defense group, has reported a return to profitability after five years, closing 2024 with a positive operating result of 27 million euros. This is ahead of the industrial plan’s forecasts, compared to a loss of 53 million euros the previous year. The adjusted net result shows a profit of 57 million euros, up from a loss of 7 million euros a year earlier. Revenues reached 8.12 billion euros, a 6.2% increase.
BYD Surpasses Tesla in 2024 Revenue
BYD overtook Tesla in revenue for 2024. The Chinese electric car manufacturer surpassed the $100 billion mark due to international expansion. The Shenzhen-based company reported revenue of 777.1 billion yuan ($107.2 billion),exceeding the $97.7 billion recorded by Elon Musk’s Tesla.
Iren’s Profit Increases Despite Revenue Decline
Iren reported a net profit attributable to shareholders of 268.5 million euros for 2024, a 5.4% increase compared to 2023. Consolidated revenue was approximately 6 billion euros, a 6.9% decrease. This decline is attributed to lower energy revenues, influenced by a reduction in commodity prices of over 300 million euros, and a 338 million euro reduction in energy efficiency activities, such as building energy upgrades, due to the completion of Superbonus 110% related projects.
A dividend of 12.83 euro cents per share has been proposed, an 8% increase compared to the previous year, with a 61% payout, aligning with the industrial plan’s forecasts. The Board of Directors anticipates improved economic results for 2025, driven by organic growth in the regulated business supported by past investments, improved profitability in waste treatment systems, the addition of the Noto photovoltaic system, maintenance of the customer base in a competitive surroundings, and the anticipated consolidation of the Aegea group.
Intesa Sanpaolo: ENPAM, Forensic Cassa, and Inarcassa Support Messina’s Reappointment
Associre, an association of responsible investors comprising ENPAM, Forensic Cassa, and Inarcassa, has announced its support for Carlo Messina’s reconfirmation as a councilor of Intesa Sanpaolo at the upcoming budget assembly. The complementary bottom fund also supports this decision. Associre hopes that Messina will continue to provide leadership, contributing to the bank’s growth and consolidation. Associre shareholders hold a total of 2.09% of Intesa Sanpaolo’s capital.
Iren to Acquire Full Capital of Aegea
Iren will exercise its call option to acquire the entire Egea share for 74.8 million euros. This marks the end of the first phase of relaunching Egea, which involved restructuring a group that faced significant financial difficulties and relaunching it with a solid industrial progress plan.
Norges Bank will vote on all agenda items at the Unicredit assembly, according to the Norwegian bank’s website. The UniCredit shareholders’ meeting, scheduled for Thursday, March 27, will vote on the capital increase related to the public exchange offer on Banco BPM.
European markets are rising amid speculation about a lesser impact from potential duties. Rumors from the U.S. administration suggest the next round of duties, expected on April 2, will only affect bilateral duties and exclude countries without duties on U.S. imports.
New sectoral duties are reportedly not expected. The euro has risen to $1.0842 against the dollar. The Stoxx 600 index is up 0.1%, with gains in the technology sector (+0.8%) as investments in artificial intelligence are evaluated. Banks (+1%) and insurance (+0.8%) are also performing positively. The defense sector continues to rise (+1%) amid European rearmament plans. Utilities show moderate growth (+0.1%) as gas prices fall amid peace negotiations between Russia and Ukraine. In Amsterdam, prices have dropped by 2.2% to 41.7 euros per megawattora. Luxury stocks are down (-0.5%), while car stocks are up (+0.5%). The energy sector is weakening (-0.3%) as oil prices increase. WTI crude stands at $68.52 per barrel (+0.3%), and Brent crude is at $72.37 per barrel (+0.2%).
Government bond yields are relatively stable. The spread between BTP and Bund stands at 109 points, with the Italian tenth anniversary rate at 3.87% and the German one at 2.77%. Gold is at $3,025 an ounce (-0.1%).
The initial reading of the UK’s SME Index of managers indicates a growing economy driven by the service sector. The March PMI is at 52, up from 50.5 in February and above expectations of 50.3. The PMI Services is 53.2, exceeding forecasts of 50.9 (February: 51). However, the manufacturing SME has worsened, remaining in contraction territory at 44.6 (from 46.9 in February), compared to the expected 46.4.
Banca Mediolanum’s stock is up 3% to 15.06 euros following positive ratings from analysts. The stock benefits from “higher growth in assets under management and a strong presence in the financial advice segment. There is also a strong resolution of flows and an interesting evaluation,” according to analysts, who placed the price goal at 17.4 euros. The target price was also raised to 26 euros from 22 euros.
The Eurozone’s manufacturing PMI index rose to 48.7 points in March, the highest level in over two years.The index had stood at 47.6 points in February.
Germany’s manufacturing PMI index rose to 48.3 points in March, the highest level in 31 months. The index had stood at 46.5 points in February. The service sector index fell to 50.2 points (from 51.1 points in February), while the composite index rose to 50.9 points from 50.4 points in the previous month, reaching a 10-month high.
The manufacturing PMI index rose to 46.8 points in March, the highest level in the last 10 months. The index had stood at 45.1 points in February.
European stock markets are showing positive momentum. Intesa Sanpaolo is
experiencing a rise of (+1.8%), followed by Unicredit (+1.1%) and Banco
Bpm (+1%).Mediobanca is also recovering (+1%), and Understanding is up
(+0.8%).
France: Manufacturing PMI Index Rises in March
the manufacturing PMI index for France has increased to 48.9 points in
March, reaching its highest level in 26 months. The index stood at 45.8
points in February. The services sector index rose to 46.6 points (from
45.3 points in February), while the composite index reached 47 points, up
from 45.1 points the previous month.
BTP: Spread Descends at Start, Ten-Year Return at 3.89%
The spread between BTP and Bund has slightly decreased. The performance
differential between the ten-year BTP benchmark and the equivalent German
benchmark stood at 110 basis points, down 1 hundredth compared to the
previous Friday’s closing. The performance of the ten-year BTP benchmark
marked an initial position at 3.89%, up from 3.88% in the previous
reference.
Juve +2.6% After Coaching Change
Juve’s stock is up +2.6% following a change on the bench.
Milan Stock Exchange on the Rise
The Milan stock exchange is opening positively, with the FTSE MIB gaining
0.58% to 39,261.54 points. Top performers include Banca Mediolanum
(+2.67%), TIM (+2.64%), Stellantis (+1.8%), Iveco (+1.73%), Bper Banca
(+1.47%),STMicroelectronics (+1.43%), and Unipol (+1.11%). Enel (-0.12%)
and SNAM (-0.06%) are experiencing sales.
European Markets Open Positively
Frankfurt is up +0.7%, London +0.5%, Madrid +0.7%, Milan +0.5%, and Paris
+0.7%.
Gold Remains at Maximum, Spot Price at $3,025
Gold remains established above $3,000 at the start of the week. The spot
price is up 0.11%, climbing to $3,025 per ounce. The April contract is
also up 0.25%,reaching $3,029.
Market Watch: Global Economic Updates - March 24, 2025
A summary of key financial market movements.
BTP-Bund Spread Widens to 110 Points
The spread between BTP (Italian government bonds) and Bund (German government bonds) experienced an early increase, opening at 110 points, slightly up from 111 points the previous day. The yield on the Italian 10-year bond rose to 3.89%, compared to 3.87% at the close of trading on Friday.
Oil Prices Remain Stable; Brent crude Above $72
Oil prices are holding steady in international markets this morning.West Texas Intermediate (WTI) crude for May delivery saw a marginal increase of 0.04%, reaching $68.31 a barrel. The Brent crude contract for May is down 0.03% at $72.14 a barrel.
Asian Markets Mixed Amid Trade and Geopolitical Concerns
Asian stock markets closed with mixed results as investors sought clarity on potential upcoming tariffs scheduled for April 2. Market focus remains on the impact of trade tensions and ongoing negotiations aimed at resolving the conflict between Ukraine and Russia.
Tokyo’s Nikkei 225 index declined by 0.18%. The Yen remained stable against the dollar at 149.50 and against the euro at 162.10. Hong Kong’s Hang Seng index rose by 0.27%, and Seoul’s KOSPI gained 0.1%. Mumbai’s NIFTY 50 index showed strong performance, climbing 1.2% and recovering losses from the start of the year. Chinese markets presented a mixed picture, with the Shanghai Composite up 0.2% and the Shenzhen index down 0.7%.
Market Watch: Key Financial Trends and Updates (March 24, 2025)
overview
This article provides a comprehensive overview of the key financial market movements on March 24, 2025, covering global stock markets, oil prices, and significant company performances.
Key highlights
Global Equities: US Markets open optimistically
Company Performance: Fincantieri returns to profitability
* Financial Indicators: oil prices remain stable.
Frequently Asked Questions (FAQ)
What is the current status of the Dow Jones Industrial Average?
as of March 24, 2025, the dow Jones Industrial Average is up 333.84 points, an increase of 0.80%, indicating a positive start to the trading week. This rise is attributed to anticipation of potentially lenient tariffs.
How is the S&P 500 performing?
The S&P 500 has shown a positive trend, rising by 61.90 points, or 1.09%, reflecting investor confidence and market optimism.
What is the performance of the NASDAQ Composite?
The NASDAQ Composite showed strong gains, increasing by 277.11 points, or 1.56%, demonstrating robust growth in the technology sector.
How is oil trading?
Nymex WTI oil is trading at $68.44 per barrel, marking a gain of 0.23%, indicating stability in the oil market.
What is Fincantieri’s financial performance?
Fincantieri, the Cantieristica and Defence group, has returned to profitability after five years, closing 2024 with a positive operating result of 27 million euros. The adjusted net result shows a profit of 57 million euros. Revenues reached 8.12 billion euros, a 6.2% increase.
How did BYD perform compared to Tesla in 2024?
BYD surpassed Tesla in revenue for 2024. The Chinese electric car manufacturer reported revenue of 777.1 billion yuan ($107.2 billion), exceeding Tesla’s $97.7 billion.
What were Iren’s financial results for 2024?
Iren reported a net profit attributable to shareholders of 268.5 million euros, a 5.4% increase compared to 2023. Consolidated revenue decreased by 6.9%, to approximately 6 billion euros, due to lower energy revenues. Iren has proposed a dividend of 12.83 euro cents per share, an 8% increase from the previous year.
What are the key drivers of Iren’s expected improved results?
The Board of Directors anticipates improved economic results for 2025, a positive outlook driven by organic growth in the regulated business, supported by expected growth.
Top Performers
| Company | Performance |
| :—————- | :—————– |
| Fincantieri | Return to Profitability |
| BYD | Surpassed Tesla in Revenue |
| Iren | Net Profit up |