Volatile sitting today in Europe, beaten by the headwinds of Tokyo (-2,25 the closing of the Nikkei) and from the indefinable ones of Wall Street, which struggles to find a precise direction in the American morning.
After several ups and downs, Business Square it closed up 0,15%, supported by the banks, but weighed down by utilities and cars. The other European lists are contrasted: Madrid gains 0,74%, followed by London +0,12%, while they are down Paris -0,43% Frankfurt -0,46% and Amsterdam -0,58%
Once again, the central banks and in particular the BoJ took the stage in today's session, which said good morning, leaving everyone dumbfounded and accepting that the rates on ten-year bonds (which it controls) fluctuate by 50 basis points (twice as much as earlier) both ways from the official zero per cent target. It is not a change from the ultra-accommodative monetary policy, guaranteed the governor Haruhiko Kuroda, yet that was enough to send stocks and bonds into a tailspin, after the restrictive attitude shown last week by the Fed and the ECB.
The decision by the Japanese central bank also overwhelmed the foreign exchange market, where the yen soared to a four-month high against the dollar, against which it is currently gaining almost 4%.
Also 'euro it strengthened by about 0,4% against the greenback, for an exchange rate around 1,064.
Three raw materials, metals appreciated, especially gold (+1,76% to 1819,1 dollars an ounce) and silver. The sea is calm Petroleum, where Brent gained 0,44% to $80,15 a barrel.
The session, on the other hand, was very busy for gas, which fluctuated between 100 and 115 euros per Mwh, weighed down on the one hand by the agreement found in Europe on the price ceiling, but driven by the explosion of a gas pipeline in Russia.
Stable spread, rates go up
The wind from Tokyo also hit bonds, sending rates soaring in Europe and the USA. The spread between the ten-year Italian and German terms, it remains stable at 216 basis points, but yields soar to +4,45% and 2,29% respectively.
Positive signals have also come from the macroeconomic front. In particular, consumer confidence in Europe is improving. According to the flash estimate of the EU Commission, in fact, the December index rises by 1,7 points to -22,2 in the euro area and by 1,4 points to -24,4 in the EU.
Confidence remains well below its long-term average but is now slightly above the trough reached at the start of the pandemic.
German producer prices also slowed in November: -3,9% on a monthly basis, after -4,2% in October and compared to a forecast of -2,5%.
Watch out for growth instead, because the World Bank has cut its estimates China, due to the effects of the epidemic Covid.
Piazza Affari: banks and asset management invigorate the list
Sitting in great dust for the financial stocks of the Ftse Mib. At the top of the list they stand out Bper + 4,48% Bpm bank + 4,13% Unicredit + 4,02% Understanding +2,02%. According to rumors, the institute led by Andrea Orcel would aim to strengthen itself in digital activities with the acquisition of the platform. Believe me for financing SMEs; Banco Bpm, on the other hand, would be closing the alliance with Credit Agricole in the non-life policies.
Bounce Asset Management with Finecobank + 1,61% Post + 1,72% Banca Mediolanum + 1,35%.
Among the insurance companies it remains in the light Unipol + 0,55%.
In the industry the best headline of the day is Leonardo +1,91%, while among the oil companies it is Tenaris + 1,37%.
The declines of . weigh on the main basket Campari -3,19% Iveco -2,45% Diasorin -2,81%. The utilities are negative: A2a -2,31%; Ivy -1,75%; Italgas -1,67%.
Profit taking sinks nexi, -2,1%. The four wheels are weak: Ferrari -1,71%.
Luxury remains anchored to China and its problems: Moncler -1,94%.
