The worst could be behind you for the manufacturing of the euro zone and the continental stock exchanges, in the first session of the new year, regain optimism by stopping i 2022 balances su stock e bond. The day for the European markets thus closed with a sharp rise, despite the pessimistic economic forecasts of the IMF, the low volumes of the period and the absence of trading in important markets such as London, New York and Tokyo, still celebrating after the New Year. Furthermore, US oil, gold and natural gas futures are at a standstill.
Square Business it is queen in Europe and is appreciated by 1,9%, with a leap that takes it beyond the psychological threshold of 24 points (24.158%). The progress in oil, auto, utility and bank stocks is substantial. Mps uncorks the sparkling wine a few days late and scores +6,52%.
Furthermore, the closures are brilliant Paris + 1,87% Amsterdam + 1,76% Madrid +1,78%; it is slightly more opaque Frankfurt + 1,08%.
Overseas, the Brazilian Stock Exchange is open, with the main index of São Paulo moving in deep red after President Lula installed vowing to end poverty.
On the foreign exchange market theeuro cautiously discount against dollar and the cross moves into the 1,065 area.
Spreads down
The session is broadly positive for government bonds. The spread between the Italian and German 210-year period, it falls by 4,28 basis points (-4,55%) and the rates fall, respectively to 2,45% for the Btp and XNUMX% for the Bund.
Improve crafting in December. However, the Monetary Fund sees black for 2023
Today, last month's data on manufacturing in the eurozone offered a foothold for the bull, still below the 50 threshold, but improving, in the hope that the worst is over, while the snags in the supply chains seem to be unraveling and the inflationary pressures ease.
The PMI manufacturing index of S&P Global it rose to 47,8 in December from 47,1 in November, matching the preliminary reading and remaining below the 50 threshold separating growth and contraction. The future production index jumped to 53,8 from 48,8. “The number of optimists about next year surpassed pessimists for the first time since August, which points to a steady improvement in business confidence,” he says. Chris Williamson, chief business economist at S&P Global Market Intelligence.
In Italy the manufacturing PMI it rose to 48,5 in December 2022 from 48,4 in November.
Il International Monetary Fund however he looks with concern to the next 12 months in the world and also in Europe.
“We expect a third of the world economy to be in recession” and the problem will also affect half of the European Union, the president of the International Monetary Fund, Kristalina Georgieva told the Financial Times.
Meanwhile, the central banks are not giving up their restrictive stance which, together with the recession, is one of the depressing factors for the markets. According to the president of the Bundesbank and a member of the ECB, Joachim Nagel, there is no sign of "a wage spiral, in the sense of a further increase in the inflation rate due to the current wage agreements", but the European central bank will have to continue to raise interest rates to curb expectations on the race in prices.
Today from Germany news came of record occupancy, at levels not seen since before unification.
Piazza Affari closes a session with the turbo
Square Business ran strong today thanks to oil stocks such as Saipem + 5,01% Eni +3,18% and Tenaris + 3,29%.
Archives a session in dusting the automotive industry, in line with purchases in the sector at a European level: stellantis +2,9%; Iveco + 3,28%.
The dawn of the new year is bright for the utility sector: Enel + 2,8% Ivy + 2,66%.
In industry, defense takes the lion's share with Leonardo +2,9%.
The banking sector is appreciated, which could reserve surprises in terms of mergers in the coming months.
Among the possible protagonists of a new season of consolidation Bpm bank rises by 2,73%, while outside the main basket the most popular is Ps. In informative note monthly to the market Siena reiterates "that the positive conclusion of the capital increase operation for 2,5 billion euros, which took place on 4 November last, and the implementation of important actions envisaged in the 2022-2026 business plan, lead us to believe that they are outdated the significant concerns about the going concern that had been stated in the previous reports”. It should be remembered that at the press conference at the end of the year, Prime Minister Giorgia Meloni underlined that the government is working on the MPS dossier and to create the conditions for the formation of more banking centers in Italy.
Among the blue chips they are in red only Amplifon -2,55% and Diasorin -0,65%.
Among the mid caps it shines Fincantieri +2,07%. Equita Sim defined the group as "well positioned" to win a 1,5 billion euro order in Greece, in light of the recent memorandum of understanding with Onex Shipyards & Technologies, for the management of the Elefsis shipyards in the country.
