The actions of Bpm bank (+ 4,21%) and Team (+3,32%) stand out today on Business Square, which closes with a gain of 0,46% at 25.901 basis points and leads the increases in European lists, where the climate still appears mild. Frankfurt appreciates by 0,3%, Paris + 028% Amsterdam + 0,04% Madrid -0,14%. Outside the eurozone London, +0,19%, reaches 7.859,13 points and approaches its historical record (7.903,50).
The continental stock exchanges thus consolidate the progress of the first two weeks of the year, even in the absence of indications from Wall Street, celebrating Martin Luther King Day.
remains stableeuro-dollar, with the single currency changing around 1,082.
The prices of gas they drop below 60 euros and erase gains until September 2021.
Back the Petroleum: Brent loses about one percentage point and trades at 84,48 dollars a barrel.
Cautious optimism about inflation
From the first days of the year, the possibility that inflation has already reached its peak in the USA and Europe has had a positive influence on prices (the collapse in gas prices contributes to this) and that central banks may slow down their tightening on rates, awaiting indications this week on prices in the euro area and in view of the publication of the minutes of the last ECB meeting.
Among the variables that could affect sentiment in the coming days are the decisions of the central bank of Japan which will meet tomorrow and the day after tomorrow and which could reserve surprises on the yield control policy, as it did last month.
In Europe, the annual forum has also kicked off in Davos, Switzerland, which will be attended by 52 heads of state and government and 19 central bankers.
De Puyfontaine leaves the board and Telecom flies
The story of the day in Piazza Affari concerns Telecom and the resignation from the board of directors Arnaud de Puyfontaine, CEO of shareholder Vivendi. According to Bloomberg Intelligence Unit analysts, the farewell comes after long talks with the government and could signal Vivendi's willingness to accept the state plan for the restructuring of the group. “This could involve the agreement for a sale of the fixed network closer to Cassa Depositi e Prestiti's valuation of 18-20 billion euros than Vivendi's initial expectations of up to 31 billion euros, valuing the asset at 15 times the 'Ebitda”.
For Il Sole 24 Ore, which had anticipated the news, “the French manager asks for discontinuity in Tim's board to start a new course, especially with reference to the current president Salvatore Rossi. Furthermore, de Puyfontaine wants, with this act, to have more freedom in the dialogue with the Government on the network as representative of the first Tim shareholder. Vivendi, in this context, reiterates its industrial interest in Tim, in which it wants to be a long-term investor ”.
Returning to Ftse Eb, the blue chip that posted the biggest gain of the day is Bpm bank +4,26%, favored by the promotion of Redburn, which raised the recommendation to 'buy' (purchase) as the institution would be in the best position to benefit from potential M&A among Southern European banks.
In the upper part of the price list they also appear again Diasorin +2,2% and Saipem +2,66%. Well, among the utilities, Enel + 1,4%.
Profit taking sends you into the red Iveco, -1,32%, which remains close to the target price of 7 euros Morgan Stanley which has started hedging the security with an 'equal weight' rating.
I'm down Hera -1,12% General Bank -0,87% Tenaris -0,8% Eni -0,65%.
Stable spread, but the 4-year BTP rate returns to XNUMX%; Moody's is pessimistic
The closure is little changed even on the secondary, with the spread between 187-year BTPs and Bunds of the same duration which is confirmed at 4,01 basis points. However, yields are rising and the Italian stock is once again indicated at XNUMX%, after falling below this threshold last week.
The Bund rate is indicated at +2,14%. The fact that the prospect of Moody's on euro area sovereign ratings is negative. The agency, in a statement, argues that "the energy crisis, rising interest rates and the slowdown in global growth will lead to a mild recession." Public measures to avoid this drift will not save 60% of the countries in the bloc. In particular, "the GDP of Germany, Italy and Slovakia will fall below pre-pandemic levels".
