“I think at the end of 2023 we won't have a problem inflation. The recession? The risk exists, but to avert it it will not be necessary to push on the interest rate lever”. Janet Yellen, US Treasury secretary and former Fed chairman, thus opened, making the voice of the White House heard, the Central Bank Decision Week: between Wednesday and Thursday, Fed, ECB and Boe they will have to raise rates (probably 50 basis points) and explain to the markets where the fight against rising prices is. And Yellen's judgment will be hard to ignore. But, writes the Wall Street Journal, the judgment applies only to the United States. The European Union, on the price front, is worse off. And an increase cannot be ruled out 75 points.
Stock market today 12 December: Europe fears the blitz of the hawks
Waiting for decisions. The markets choose the path of prudence. THE Eurostoxx futures -0,4% signal a lower opening. The US derivatives moved little. The US markets are already focused on the November inflation figure which will be released tomorrow morning: forecasts are for a drop to 6,1% from the previous +6,3%.
US stock exchange December 12: big coup in biotech on Wall Street
Amgen, writes the Wall Street Journal, could today announce the acquisition of Horizon Therapeutics, a 26 billion dollar operation for the control of the biotech company, long courted by Sanofi, leader in thyroid studies.
Stock Exchanges Asia 12 December: Hong Kong falls sharply
Almost all the bags of thePacific Asia. The Hang Seng loses 1,7%, the CSI 300 of Shanghai 0,8%, the Kospi of Seoul 0,5%. Tokyo's Nikkei and Mumbai's BSE Sensex are around parity.
The South China Morning Post anticipates a partial reopening of the border between Hong Kong and China, the quarantine phasing out program could begin as the travel season kicks off leading up to Chinese New Year (January 22).
In November i producer prices in Japan recorded a +9,3% compared to the same period of the previous year, an increase compared to the forecasts of 8,9%
In Piazza Affari a week in the red. Well the Emerging
Markets are coming off a down week after the October/November rally. Emerging Stock Exchanges and Europe better than Wall Street, which suffered, paradoxically, from the release of some macroeconomic data which confirm the moderate health of the economy. L'S & P500 finished with a weekly loss of -3,3% to 3.934 points. The index MSCI Emerging Markets instead it grew by 0,5% thanks to the boost of the Chinese stock exchanges. In Europe, the index Eurostoxx50 it lost a total of 0,8% and ours FTSE Mib 1,4%.
Little moved this morning on dollar +0,1% against the euro (1,051). Btp at 3,82%.
Budget Maneuver 2023: the examination of the amendments begins
The 3,55-Year Treasury Note weakened on Friday, mainly on producer price data, yielding 1,92% this morning. The Bund restarts from 3,82%. BTPs at XNUMX%.
Also in Europe, as in the USA, i most important macro data will be released tomorrow, Tuesday 13 December: the EU harmonized inflation in Germany and the data on the labor market in the United Kingdom are expected at 11 am tomorrow morning, at XNUMX the ZEW index on expectations on the German economy comes out.
The data on Italian industrial production will also arrive tomorrow. The battle on the modifications to the maneuver is in full swing. There are 450, out of the initial three thousand, the amendments reported by the parliamentary groups that will be submitted to the scrutiny of the budget commission of the Chamber.
Energy: the cold raises gas prices. Stocks are down
Contrasted start of the exchanges on Petroleum. Brent +0,6% rises to 76,5 dollars, more tonic the Wti to 71,6 dollars in view of the reopening of an oil pipeline in the USA. Prices are trying to rebound from the lows of the last 12 months marked at $75,11 and $70,07 respectively. It is likely that Western countries will continue to decrease demand, making room for other, let's call them "non-aligned" countries, such as China and India.
Fourth consecutive session of rise for the gas price (+10%) treated in New York. The western United States is about to be hit by a current of freezing air. The European natural gas section at 139 euros per MWh. The cold is also pressing across Europe and gas stocks are being affected. From last October 31st to December 8th the EU stocks they dropped from 94,3% to 89,41%, burning almost 53 TWh in 38 days. Italian gas inventories also decreased from 95,32% at the end of October to 88,6%.
Bitcoin just below $17.000, slightly down. There is great expectation for the Congressional testimony of Sam Bankman Fried, the founder of the Ftx platform, in the meantime indicted for fraud.
Tod's renounces the delisting, Snam leaves Piombino
Tod's. DeVa Finance, which belongs to the Della Valle family, renounces the merger by incorporation plan of the company and therefore its delisting after the unsuccessful takeover bid.
Tim. Reuters reported that the company is testing investor interest in its assets, while the new right-wing government led by Giorgia Meloni is trying to find an agreement on how to resolve the company's difficulties.
Snam will choose the offshore site for the new floating storage and regasification unit (FSRU) in the next 100 days, following legal complications for the initial location in Piombino.
Cnh Industrial has acquired a minority stake in Stout Industrial Technology (Stout), a US startup active in smart solutions based on artificial intelligence for agriculture.
Eni announced on Saturday the start of production of the operated photovoltaic plant of Tataouine, in southern Tunisia. The facility, which has an installed capacity of 10 MW, will supply the national electricity grid with over 20 GWh of energy per year.
Leonardo signed a loan agreement for 260 million euro with the European Investment Bank aimed at promoting Research, Development and Innovation in the field of helicopters, security and electronics for defense and space, as well as research carried out by Leonardo Labs while contributing to the fight against climate change.
Unicredit The 'second pillar' capital requirement requested by the ECB as part of the Srep process could slightly increase compared to the current level, but confirms the guidance on distribution policies for 2022 and for the future, on the funding plan and on the capital target . The company has accepted for around 29 billion euros in today's ECB offer for early repayments of TLTRO III loans.
