The wind of protest invests the China. Exasperated for the long run lockdown. Thousands took to the streets in Shanghai and other cities shouting "Xi resign" and waving white papers, a symbol of censorship. Meanwhile, the number of infections is rising: yesterday over 40 thousand cases.
European futures in the red, Asia suffers
- The emergency is felt on the markets, despite the intervention of the authorities. Hong Kong down 4% at the opening, has recovered in the last few hours to -2,2%. CSI 300 of the Shanghai and Shenzen lists loses only 1% thanks to the measures on the compulsory reserve. China's currency, the yuan, is down 0,5%, from -1% a few hours ago.
- The slowdown in China, the second largest economy on the planet, is reflected in other markets, not just the Asian ones. The Stock Exchanges of Europe they should open declining. Futures EuroStoxx50 -0,5%.
- The Asia Pacific index -2,2% is in the red. Tokyo -1%, Sydney -0,6%, Taiwan and Seoul -1,35% lose hits.
Brent loses momentum, Russia is on the roof
- The effects on the raw material markets are also significant. Oil loses ground (Brent at 81,16, its lowest since January) at the start of a crucial week: OPEC+, the global cartel of oil producers, meets on Sunday 4 December: pressure for new production cuts is growing. Meanwhile, this week, EU countries are aiming to conclude negotiations to define the threshold for the ceiling on the price of Russian oil agreed at the G7 meeting.
- European gas closed the second week on the upside on Friday (+8%) reaching 124 euros per mWh due to the lack of agreement on the price cap. Just over 3 billion were saved by Italian consumers on gas and electricity bills between October and November thanks to the mild climate. This is an indication that emerges from a survey carried out by Nomisma Energia.
Black Friday sales +2%. Nasdaq to open in red
- Back to normal Wall Street, after the weekend dedicated to the start of Christmas shopping. A bearish start is expected for now for the Nasdaq and the S&P 500.
- Euro/dollar (1,036). The US currency starts in "cash" thanks to geopolitical tensions, but had lost about 0,8% last week
- Bank of America Merrill Lynch, in its forecasts and strategies report for 2023 recommends taking into consideration small and medium-sized companies in the manufacturing sector listed in the Russell index.
- According to Adobe Analytics estimates, US citizens spent $9,12 billion on online purchases on Black Friday, an increase of 2,3% year-on-year. 48% of purchases went online.
Talk about Lagarde, Pmi and Beige Book indices
In the afternoon Christine Lagarde hearing in the European Union Parliament. kicks off central bank activity ahead of rate hikes.
The Federal Reserve is to release the Beige Book. Furthermore, Governor Jerome Powell will talk about the country's economic prospects: the markets will listen to him to understand if the intention is to focus on a further tightening of financial conditions.
The updated data will also be released on Wednesday Third quarter GDP. Thursday will be the turn of the indices on the manufacturing activity of the main countries of the Eurozone and the USA.
Telecom Italia: test on the Minerva Plan. Big hit Leonardo/Iveco
At the center of attention Business Square Telecom Italia will be there, not only for the forecast of today's meeting between the government and the unions but for the news that came about on Friday when Prime Minister Giorgia Meloni entrusted the single network dossier to undersecretary Alessio Butti canceling the Cassa Depositi e Prestiti (Cdp) project to weave the network of the subsidiary Open Fiber with that of rival Telecom Italia in a single infrastructure. It will be up to Butti, the author of the Minerva plan which provides for the launch of a takeover bid by Cassa depositi e prestiti on Tim, integration of the Open Fiber network within Tim's perimeter and the sale of services and Tim Brasil to raise cash, to partially cover the debt. A scheme to be integrated to avoid the risk of downloading Telecom's entire debt to CDP. Hence the negotiations to broaden the front to more subjects,
Iveco-Leonardo. The Iveco-Oto Melara consortium has been awarded a contract for the supply of armored vehicles to the Brazilian army relating to a potential of 220 armored vehicles for a value of 2 billion euro. This was announced by Defense Minister Guido Crosetto..
Iren signed an agreement for the rationalization of gas distribution concessions which envisages, among other things, the sale of its 19,7% stake in Romeo Gas to Ascopiave and the sale by the latter to Iren of the entire share capital of a new company to which the business branches will be conferred company that manages the Atem Savona 1 and Atem Vercelli concessions. A monetary adjustment of 3,4 million euro is envisaged for Ascopiave.
