Much caution, some hope in start of week. The caution of European price lists is linked, in large part, to uncertainties about the British economy: will the resignation of the unfortunate head of the Treasury be enough to appease the anger of the markets? Meanwhile the dollar asphalt like a steamroller lo yen, dropped this morning to 148,9, ai minimums from 32 years.
-Hence theboot in red of the Eurostoxx futures 50 -0,5% and Asian price lists. The Nikkei of Tokyo loses 1,4%, also down the Kospi of Seoul and the Sydney Stock Exchange.
US futures are up pending quarterly results
Conversely, index futures S & P 500 I'm in the ground positive. Analysts expect a rebound after yet another slide on Friday (Nasdaq -3,1%) in the hope of some good news coming from the quarterly to be released in the next few days (66 for the main price list only). In the spotlight Tesla and big banks.
Da Bank of America comes a report that represents a cold shower for investors: the markets, writes theeconomist Jared Woodard, have to take note that in the next few years inflation average in the West will be 5% and not 2%. Consequently, it will have to be revised al lower the quotation of growth securities (70.000 billion) and increased the share in bonds compared to shares. Prioritize the more traditional sectors, energy and food in the lead.
Pound recovers, Europe takes action on energy prices
Le new sanctions against Russia and emergency measures against the dear energy will be at the center of attention on the European markets: on Thursday in Brussels will be held the European Council. The day before the data will come out on inflation of the Eurozone.
Euro/Pound (0,867) – Start of session on the upside for the Pound. The Central Bank of England's emergency program ended on Friday, markets expect the government to Liz Trauss other announcements in the coming days Revisioni to the subsidy and tax cut plan already revised, corrected and partially archived in the past few days.
Italy: eyes focused on inflation awaiting the rating
• To follow the race of government bond yields, starting with the BTPs, pending negotiations for the new government. On Friday the Italy rating is expected to be updated by Standard & Poor's. La interest expense of the Treasury could rise with the rate hike to 11 billion euros for the current year to 58 billion by 2025.
• Today the data on theItalian inflation in September, while tomorrow the one on the August trade balance.
The yuan stops the descent. Chips: Chinese expelled from the USA
• The most important event of the weekend, i.e. the opening of the XXI Congress of the Communist Party of China, did not provoke particular reactions on the Stock Exchange: the president XI JingPing he devoted little space to the economy, limiting himself to reaffirming the line of "common welfare", ie the superiority of public intervention over private initiative. Numerous references to Marx.
• In decline the Hang Seng of Hong Kong -1,2%, but also the CSI 300 of the price lists Shanghai and Shenzhen -0,4%. Taiwan down -1,5% after Xi's words.
• Meanwhile, the conflict between the superpowers on the war front is heating up chips. I'm 43 tall executives of Chinese companies with US passports who risk expropriation under the latest American laws. Meanwhile Apple Lossless Audio CODEC (ALAC), has renounced to use chips of Chinese origin.
• The central bank of Beijing it halted overnight its cash drainage program started this summer, the yuan barely moved, at 7,20. The currency strengthens on the unofficial markets, the off shore dollar-yuan cross weakens after eight consecutive sessions of appreciation.
Gas down, Germany completes stocks
Il WTI-type oil it is up 0,5% to 86,3 dollars a barrel after the -7% loss last week. At the moment, concern about the stability of global demand overwhelms the decision of theOpec + to cut the oil production target by 2 million barrels per day.
Il European gas made it to the seventh negative week in a row: -9%. There Germany reached its depot fill target by two weeks ahead of schedule storage of gas reaching 95,14% of stocks. Gold at $1.640 an ounce.
Mps increase kicks off, Tiscali is now called Tessellis
The 2,5 billion capital increase kicks off today dthe Monte Paschi which will end on October 31st (rights negotiable until the 25th). The increase will cost the bank 132 million euros, mainly in commissions paid to the financial institutions that guarantee the operation. The guarantors have signed initial allocation agreements for 410 million, while discussions are underway to stipulate further agreements for the remaining part destined for the market. For today's session, the reference price of the shares was therefore fixed by Borsa Italiana at 2,0630 euros while the theoretical value of the rights is 7,8371 euros.
Leonardo is not particularly impacted by the increase in energy costs because it has derivatives that cover this effect until the end of 2023. This is stated by the CEO Alessandro Profumo. The group is aiming for orders worth 80 billion euros in the 2022-26 plan period, compared to 57 billion in the previous 2018-21 plan, Profumo said in an interview with Milano Finanza published on Saturday.
TIM– The BoD did not deliberate about the CDP's request to extend the Mou on the single network that will arise from the integration of the broadband networks of Tim and Open Fiber. This is what a source close to the situation reports. Another board meeting to discuss the matter could be called for October 25th. S&P Global cut Telecom Italia's rating to "B+" from "BB-", citing the weakness of the macroeconomic environment, the rating agency said in a statement on Friday.
Tiscali [TIS.MI]. The telephone company founded by Renato Soru changes the name of the holding company to Tessellis. The totalitarian takeover bid promoted by esprinet on the capital of Aarkstore concluded with acceptances equal to approximately 11,48% of the issuer's share capital and is therefore to be considered ineffective.
