The markets prepare, without great euphoria, for the days of Christmas shopping. In Asia as in Europe prudence prevails as we wait for the central bank minutes to be released in the middle of the shorter week for the US stock exchanges, closed Thursday (Thanksgiving holiday) and Friday (Black Friday). Business Square, however, is preparing today to do the full of coupons: among the interim dividends, those of stand out Intesa Sanpaolo and Eni. In summary:
- Le European stock exchanges should open lower, the future of the index EuroStoxx50 loses 0,3%. The European stock exchanges (including Piazza Affari) completed their seventh consecutive week on the rise on Friday.
- I Wall Street futures they lost 0,2% this morning
The Fed and ECB minutes are coming: towards an increase of 50 basis points
From the point of view of monetary policy, the key appointments of the week concern the minutes of the last meeting of the Fed (Wednesday) and of the ECB (Thursday) Useful to understand the next moves on the cost of money. From the bankers' statements emerges the hypothesis of an increase of 50 points by both the Fed and the ECB. tomorrow theOECD will publish its global economic forecasts.
Stock exchange today 21 November: Fitch confirms the Italy rating, the 2023 maneuver arrives
- The focus today will be on the launch of the financial maneuver 2023 in Italy. We are moving towards cutting the wedge strengthened up to 3 points for low incomes, overcoming the Fornero law with a "bridge" solution that binds 41 to the limit of 62 years of age, a tightening on basic income and, on the subject of flat tax, an increase in the threshold up to 85 thousand euros for freelancers 30 billion.
- Fitch confirmed Italy's sovereign rating at 'BBB' with a 'stable' outlook on Friday evening. The agency underlines that on the one hand the high debt weighs while on the other there are strong institutions and a diversified economy with high added value, but warns of a "strong deceleration" starting from the fourth quarter.
Stock market today: macro data for the week
- In Europe on the macroeconomic data front, i PMI data (the indices constructed with surveys among company purchasing managers) November preliminaries.
- On Thursday, in terms of macro data, the i will count in Europe above allIfo index, the German business confidence index while on Friday the Gfk it will measure consumer confidence in Germany. On the same day, Italy's confidence indicators.
Stock market today 21 November: new lockdowns in China, Asia and oil stocks down
- A new barrage of anti locks Covid-19 it froze once again the hopes of a recovery of the Chinese markets. The Chinese press reported the first two deaths from Covid19 since May: lockdowns have returned to some satellite cities of Beijing. Hong Kong leaves 1,7% on the ground, 1% below theCsi 300 index of Shanghai and Shenzhen.
- Weak Tokyo, The Kospi of Seoul it is down by 1,3%. The exports of South Korea recorded a drop of almost -17% in the first twenty days of the current month, a worsening compared to the -5,5% in October mainly due to the shrinking Chinese demand. Imports fell in the same period in November by -5,5%. The trade deficit thus improved slightly to -4,4 billion dollars.
- Il Brent oil and WTI is down 1%. Over the weekend, the evolution of the pandemic in China prompted Goldman Sachs to lower its forecasts for the average price of Brent crude oil to $100 a barrel, from $110.
Cop-27: half-agreement on climate change
- La climate conference of Sharm El-Sheikh ended tonight with the signing of an agreement on the creation of a fund, fueled by developed economies, to support countries called to face the most devastating effects of climate change. For the moment it is only a question of a commitment without indications on the sums to be paid: this will be discussed at the next conference, next year in the United Arab Emirates. No agreement, as forecast, on the containment of temperatures and on fossil fuels.
Gas restarts, extraordinary EU meeting
- Energy will be at the center of the European agenda: Thursday there will be extraordinary meeting of EU energy ministers which will discuss the Commission's proposals on mechanisms to stabilize the market with the possible adoption of the price cap on the price of gas. European Gas completed its first positive week on Friday (+18%) after seven consecutive downwards. The rebound can be justified by the expectation of a stiffening of average temperatures in the next period in Europe.
Government meeting on Tim, Enel leaving Romania
Among individual financial stories, a Business Square more Tim under the spotlight. The Cdp board of directors and the new powers to Minister Urso are awaited to face the match. A government meeting will be held during the week on Tim's network dossier, in view of the expiry of the deadline for the presentation of non-binding offers. Barclays has raised the target price to 16 euro cents.
Enel could announce the exit from Romania - as well as from Peru as already leaked in recent days - on the occasion of the presentation of the new industrial plan, scheduled for tomorrow.
A shower of coupons in Piazza Affari
Here is the list of interim dividends a payment from today:
BANCA IFIS 1,0 euro
BANCA MEDIOLANUM 0,24 euro (interim)
DANIELI & C. 0,2793 euros
DANIELI & C. RSP 0,30 euros
ENI €0,22 (interim)
EQUITA GROUP 0,15 euros
INTESA SANPAOLO €0,0738 (interim)
MEDIOBANCA 0,75 euros
ITALIAN POST 0,21 euro (interim)
RECORDATI €0,55 (interim)
TENARIS $0,17 (interim)
TERNA €0,1061 (interim)
