The football headlines archive a session to be framed, later the ruling that could reopen the doors to the Super League, but this euphoria was not enough to bring a good mood to European stock markets today. As Business Square closed with a loss of 0,29% (at 30.274 basis points), in line with Frankfurt -0,3% Paris -0,16% Amsterdam -0,48% London -0,29%.
Not even Wall Street, sung in the first hours of exchanges (Dj + 0,6% S & P500 + 0,68% Nasdaq +0,92%), managed to positively influence the shares of the Old Continent in the afternoon. In New York, risk appetite is favored by the day's macroeconomic data - inflation falls, GDP disappoints and unemployment claims remain stable - which reinforce the idea of a rate cut by the Federal Reserve in the first months of the 2024.
Falling dollar
The probability of more accommodating monetary policies in the coming year will be felt on the dollar, which is falling against the main currencies. The euro trades at 1,09.
The latest data weighs on the greenback: in the third quarter inflation in the United States it rose by 2,6% based on the third and final reading, against expectations for a confirmation of 2,8%.
Il pil continues to grow strongly (+4,9% in the third quarter), yet less than estimated (+5,2%) mainly due to a downward revision in consumer spending. The number of workers who requested unemployment benefits for the first time was stable (+2.000 to 205.000) in the week ending December 16th. Finally, the conditions of the manufacturing sector in the Philadelphia area remain in contraction in December, falling from -5,9 to -10,5 points, against expectations for -4 points.
The framework also favors i T Bond, which see rising prices and falling rates.
Among raw materials, sales are back on Petroleum, after the flare-up of the last few sessions: Brent -0,4%, 79,4 dollars a barrel; WTI -0,45% 73,88 dollars per barrel.
Piazza Affari at stake, but Juventus and Lazio celebrate
To find a crackling atmosphere today you have to leave the Ftse Mib and look at the titles of the football clubs: Juventus e Lazio recorded increases of 5,44% and 4,49% respectively, after having reached double-digit increases. The purchases were triggered by the ruling of the Court of Justice of the European Union against the monopoly of Fifa and UEFA on international tournaments between clubs. The judges ruled that the rules on the prior approval of football competitions, such as the SuperLeague, are "contrary to EU law" and infringe "the law of competition and the freedom to provide services".
The main Milanese price list, however, appears little changed. He is at the top of the blue chips today Erg, +2,29%, following the announcement partnership with Apex Clean Energy Holdings which represents the group's first step into the renewables market in the USA.
Stay in cash Telecom +1,66%, in a particularly lively sector in this period. Two health stocks rise as Diasorin + 1,27%. Recordati, +1,14%. Well the luxury with Moncler +0,93% and cucinelli + 0,86%.
The phase remains negative however Ferrari -2,45%, in a car sector in trouble at European level. stellantis (+0,02%) stems the bleeding, with S&P Global Ratings raising its rating on the automaker to "BBB+" from "BBB" (stable outlook) on the expectation of strong profitability and cash conversion.
They retreat Banca Mediolanum -0,87% and stm -0,71%. The banks that have earned the most recently such as Mount Paschi -0,59% and Bpm bank -0,7%.
The best stock on the entire Milan stock exchange today is Openjobmetis which records a theoretical increase of 25,1% following the agreement with the French Crit which will purchase a majority stake in the company.
Stable spread, after stability pact and no to the ESM
The Italian paper appears indifferent to the most recent news, in particular the agreement on the stability pact signed yesterday at European level and the no from Montecitorio today to the ratification of the ESM. They are two hot topics, capable of shaking the majority, which in fact was divided on the European Stability Mechanism, with Fratelli d'Italia and Lega voting against ratification and Forza Italia abstaining.
Looking at government bonds: lo spread between ten-year BTPs and Bunds of the same duration it rises to 163 basis points and the rates are at yesterday's levels at +3,58% and +1,95% respectively.
