Forward, but without too many illusions. The stock exchange and the European financial markets are preparing to open in positive territory (Eurostoxx +0,2%) today December 19th, the last full week of 2022, the worst year since 2008. But the incoming messages from central banks do not allow us to think that it will get better in the near future. On the contrary.
Yen recovering but -15% against the dollar in January
Asian stocks reflect widespread uncertainty. He misses out Tokyo -0,8% waiting for the decisions of the Bank of Japan expected for tomorrow. The yen rose, the black link among the currencies of the year (-15% against the dollar) because the feeling spread that the Rising Sun could loosen the policy of money at sub-zero cost. The ultra-soft line of Governor Kuroda, whose mandate expires in April, could be modified in a more restrictive sense.
They also go down China bags: Hong Kong's Hang Seng -0,5%, Shanghai and Shenzen CSI 300 -1%. The contagion from Covid gallops but the signs of a change of course in the anti-Covid policy are multiplying: the state agencies write that the increase in consumption must take precedence over other considerations.
Down also the Korean Kospi. they advance theIndia +0,5% e Singapore +0,4%.
The EU stock exchanges are waiting for the Info index, the race for the 2023 manoeuvre
The Stock Exchange today December 19 in Europe will be conditioned by the release of theGerman Ifo index, thermometer of business confidence, put to the test by the gloomy indications coming from the ECB.
Under observation it spread, which rose to 212 on Friday. The BTP the ten-year bond starts again from 4,27%, the Bund closed at 1,14%.
Race against time for the Budget Law 2023, significantly behind schedule, the Maneuver has five days to at least receive the go-ahead in the House before moving on to the Senate.
Gas drops to 113, Qatar threatens retaliation
Good news could arrive in the evening. Today, in fact, i energy ministers of the 27 member countries of the European Union will meet to finalize the introduction of a ceiling on the price of gas. According to the latest proposal, the ceiling would be triggered if the price on dutch gas market, the so-called "TTF", exceeded 188 euros per megawatt hour for three days. Meanwhile, the Qatar threatens retaliation against the EU over gas because of the "Qatargate".
Il European natural gas it ended the week with a drop of -16% to 115,5 euros per mWh, the lowest in a month. This morning the prices drop again to 113 euros.
Stock market today 19 December: real estate weighs on Wall Street, expectations for GDP
Wall Street futures have not moved much. On Friday, the S&P500 closed a negative week down by 1,1% (-2,1%) in the wake of the Fed's decisions. Also in the next few days, market performance will be conditioned by data on the trend of theinflation (the Cpe index on consumption) and its effects on the economy. Statistics on housing, in particular, will be followed closely: mortgages could rise to 10% next year.
Investors thus await the reading of the Gross domestic product, poised between growth and recession forecasts for 2023.
The euro/dollar exchange rate at 1,061 moved little. The Treasury Notes ten-year trades at 3,51%.
Oil, the cold in the US pushes the WTI
WTI oil rebounds to $75 a barrel, +1%. A series of winter storms it will hit much of the United States next week, in the days leading up to Christmas, threatening disruption for the millions of Americans heading away for the holidays. More than 50 million Americans are threatened by snow and rain.
Gold opens flat at $1.794 after a week down -0,2%. The tough stance from central banks has cooled enthusiasm around precious metals, but hasn't caused any investors to flee.
Salcef goes shopping on trains
Salcef, international leader in the maintenance and construction of railway infrastructure, has acquired the entirety of Francesco Ventura Railway Construction (FVCF). a company active for more than fifty years in the railway construction and maintenance sector with an enterprise value of 70 million. The operation was financed entirely through own resources.
