The leap of Finecobank (+5,26%) and that of Mount Paschi (+2,94%) allow today to Business Square to close an interim session with a very slight increase (+0,08%, 30.426 basis points), crushed by the wait for the meetings of five central banks, among which the Fed (Wednesday) and the ECB (Thursday) stand out.
The landscape is also little changed in the rest of Europe, taking into account in any case that all the price lists are moving at the top levels of the year and beyond (Milan had not seen these numbers for 15 years).
Frankfurt closes with an increase of 0,25%, Paris + 0,33% Amsterdam +0,59%. They are in modest decline Madrid -0,28% and London -0,12%.
In the United States, Wall Street is mixed in the middle of the day: the DJ it appreciates by 0,29%, lo S & P 500 is flat, the Nasdaq yields 0,29%.
Overseas we are also looking at Buenos Aires to understand how the markets are reacting in the aftermath of theinauguration of the new Prime Minister Javier Milei. The main index, the S&P Merval, after a rally opening at +4%, has slowed down and is currently moving up by 1%.
The foreign exchange market is flateuro-dollar (1,074).
Among the raw materials is flat the Petroleum, after losses in Asia: Brent -0,13%, 75,74 dollars per barrel; WTI -0,27%, $71,04.
Strong sales on gas natural in Amsterdam: (-6,08%), 36.250 euros per MWH.
it tarnishes the , below 2000 dollars per ounce (-1,04%, 1983 dollars).
Volatility returns bitcoin, which loses more than 5%, for an exchange rate of 41.729 dollars.
Focus on central banks and US inflation
The markets' focus remains on central banks and on macroeconomic data that can guide their choices such as the November consumer prices report due out tomorrow. Already the jobs report seen on Friday was better than expected and has reduced the chances of a rate cut starting in March. Now the trend in inflation could increase the bets or reduce them further, together with what he says on Wednesday Jerome Powell at the end of the FOMC meeting.
On Thursday it will then be the turn of ECB pronounce on monetary policy. No new restrictions are expected from Frankfurt either, but indications on the road that will be followed in the coming months and on the ongoing debate between hawks and doves.
Also on Thursday, the ruling will also be held Bank of England, the Norwegian and Swiss central banks and surprises from the latter cannot be ruled out, to calm the exuberance of the Swiss franc, which last week reached a nine-year high against the euro.
While the West is still playing its chess game withinflation, China is worried for opposite reasons, for deflation, with the consumer goods index in November falling by 0,5% both on an annual and monthly basis.
Piazza Affari, financial stocks do well, utilities do badly
In Business Square it is above all financial securities that give life to the list. In the foreground is Finecobank, thanks to the November net collection figure of 287 million euros above analysts' expectations.
Monte Paschi Bank, the most effervescent title in this period, celebrates today the acquittal of the former leaders Fabrizio Viola and Alessandro Profumo, with the appeal ruling that overturned the first instance conviction for the accounting of the infamous Santorini and Alexandria derivatives. Bpm bank rose by 0,78% on the eve of the presentation of the strategic plan. Well General Bank +1,26% and Banking Mediolanum + 1,18%.
Among the best blue chips of the day there are also Amplifon +2,02% and Moncler .
The list is weighed down above all by utilities and energy stocks, while news comes from Dubai that in the draft Declaration for COP 28 the reference to the gradual exit from fossil fuels is omitted.
This is how the black shirt of the day goes in Milan Getting very -1,93%, penalized above all by the relegation to 'underweight' from 'equal weight' by Morgan Stanley which signed a report on European utilities. Weakness also for Terna -1,59% Tenaris -1,49% Hera -0,1,15%.
Out of the main basket it shines Tessellis +18,17%, ex Tiscali, which has been in a bullish trend for eight consecutive sessions.
The bond is stable
The Italian card closes a colorless session. The spread between 178-year BTPs and Bunds of the same duration is indicated at 3,98 basis points, with rates slightly decreasing, respectively at +4,04% (from +2,26% on Friday) and +XNUMX% (unchanged).
