The missiles launched by North Korea towards the South and Japan did not prevent Asian stock markets from closing a week with a positive sign, characterized by Xi's diplomatic activism. Wall Street is more cautious, today engulfed by the record expiry of derivatives for 2,1 billion dollars, which could lead to an increase in volatility. The future of the index Euro Stoxx 50 anticipates a 0,7% rise in European stock markets. Positive forecast also for the City, reassured by the new government's financial manoeuvre. positive Business Square at startup (+0,56%). At the end of a week dominated by geopolitics, attention returns to focus on the choices of central banks.
Borsa today 18 November: Milan opens postiviva
- The declarations of some Fed bankers also caused a slowdown in European stock markets. Only Frankfurt, driven by the results of Siemens, closed in positive territory
- In Milan, the FtseMib -0,8%, 24.339. The weekly balance is in the red by -0,5%, but comes after six positive weeks in a row.
- Anticipation is growing for today's speech by Christine Lagard. Meanwhile, investor sentiment on bonds has changed markedly for the better. This is also demonstrated by the success of the placement of the new BTP Italy 2028 which came close to 12 billion in assignment, for around 256 thousand contracts from small investors. 4,71 billion went to the institutions.
- In Europe, the 2,02-year German Bund at 1,5%, towards the third positive week of the last four (+4% overall to date). 3,91-year Btp below the 189% barrier at 2%, with the spread dropped to XNUMX basis points. We are heading towards the fourth positive week of the last five with a provisional balance of around +XNUMX%.
- The Treasury confidently awaits the agency's exams. In the evening Fitch updates the assessment on the sovereign rating of the Italian Republic, now 'BBB' with a stable outlook confirmed at the end of May.
Bullard (Fed): rates will rise again
- In the USA, the positions taken by some members of the board of the Federal Reserve have reduced the momentum of the stock exchanges. James Bullard, the president of the St Louis Fed, entered the debate this morning with his usual hawkish grit, to warn the markets that the change of course in monetary policy is not near. ”The rates – he said – have not yet reached a“ sufficiently restrictive ”level. A chart presented by Bullard himself during an event indicates that the reversal area is between 5% and 7%.
Wall Street feels the pinch, then goes back up
- Thursday Wall Street closed slightly down, but on the highs of the session, S & P500 (3.946) and NASDAQ (11.144) lost 0,3% recovering from lows of -1,5%. The confidence recovery came when the Philadelphia Fed's confidence index came out, which came in at -19,4 points, down sharply from the previous -8,7 points, and well below the consensus forecasts of -6. The figure is the lowest for two and a half years and reopens hopes that the FED could loosen its grip on rates already in the December meeting with a rise of only 50 basis points and not 75.
- The ax of the US weighs heavily on the marketsElon Musk's ultimatum to Twitter employees, threatened with new layoffs, and Meta cuts.
Ftx, the curator confesses: never seen such chaos
- Even more the shock caused by Ftx platform crisis.o John J. Ray III, the accountant in charge of supervising the bankruptcy proceedings of Ftx and its affiliates declared in court yesterday that the system of controls, at least not very rigorous, does not allow to understand how much money the company has at its disposal. "Never in my career have I witnessed such a complete failure of corporate controls and such a total absence of reliable financial information as in this case."
Tokyo: inflation at 3,6%. Alibaba gives the charge to Hong Kong
- Asia Pacific stocks are mixed. The Tokyo Nikkei on the day of the release of inflation data: in Japan, consumer price growth was 3,6%, an increase it has not seen since 1982. The Nikkei ends the week with a drop of 1,3 %.
- Hang Seng of Hong Kong +0,2%, +4,3% the provisional balance for the week. But above all salt Alibaba + 4% after the publication of quarterly data. Gaming companies climb on news of new licenses being released.
- CSI300 of the Shanghai and Shenzen lists almost unchanged, +0,7% on the week. Seoul Kospi +0,2%, -1,5% per week.
Cop27 closes. Agreement still far away
After the G20 in Bali today closes the Cop-27, the climate summit. Negotiations appear to be on the high seas over the "loss and damage" mechanism, according to which the poorest countries seek compensation for the damage caused by climate change
Oil Brent and WTI rebounds by 0,5%. Yesterday, it closed down 3-4%, on the back of the increase in covid cases in China and the easing of geopolitical tensions.
Il European gas yesterday it lost 1,2% closing at 112,5 euros per mWh. At these levels, the first week of increases (+15%) would be completed after six consecutive declines.
Enel sets course for the USA. The 500 returns to America
Enel intends to build a manufacturing plant for photovoltaic cells and panels in the United States.
MPS. The Allspring Global Investments funds as of 11 November held 6,8% of the capital, according to Consob updates on relevant holdings.
Webuild obtained a contract for works in the railway sector in Romania for a value of 441 million euros. The Italian manufacturer is the leader of the consortium that won the tender, with a 72% share.
Pirelli. October data on the tire market has been released: last month the replacement area recorded a drop of around 8%.
stellantis. New signs of market improvement: General Motors [GM.N] has revised its forecasts for 2022 upwards. The electric 500 is back in the United States: it will be produced only in the Mirafiori plant.
