Indexes not moved, exchanges at a flicker. THE financial markets have now entered the Christmas atmosphere, trusting to leave one of the most difficult years behind them. Business Square– 0,14% still travels above 24 thanks to the support of oil stocks. He runs Saipem +3,8%, great protagonist of the last quarter (+84%), it is confirmed Tenaris + around 2%, consolidating the record as the best blue chip of 2022. Also Eni +0.8%. strengthens in parallel with the continuous growth in the price of Petroleum +1,4% under the pressure of the frost arriving in the USA. Upswing also for Maire Tecnimont + 2,06% on the wave of new contracts: another 200 million after the orders (1,3 billion) announced yesterday.
Stable spread at 211 points
A quiet day also for the bond market while Japanese bond yields strengthen, following the latest upward jolt imposed by central banks. The gap between the BTP and Bund rates on the 10-year segment it stood at 211 basis points, in line with yesterday's end of session, after a narrowing down to 207. The 4,43-year BTP rate remains on its highs at 310%: the Treasury has estimated that the Next year, gross issues, net of BOTs, will amount to 320-XNUMX billion euro.
In the meantime, the spotlight remains on the ECB, as demonstrated by the performance of the yields of German bonds over two years, the most sensitive to the expectations of rate hikes, trading at 2,55% at its highest level since 2008.
In an interview published today by Le Monde, ECB number two Luis de Guindos envisages the possibility that rate hikes of 50 basis points will become "the new normal in the short term to curb inflation".
Rumors of delisting push Juve onto the Stock Exchange: share up 5%
In a substantially flat market, the title Juventus, which rose above 30 cents in the morning with a substantial leap of 5%. An increase that is difficult to explain with the possibility, foreseen in the manoeuvre, of spreading debts with the tax authorities in biblical times. The feeling, if anything, is that Exor is speeding up the time in view of the preparatory tender offer for the delisting of the title in view of a complex relaunch of the flagship of Italian football. The meeting for the approval of the budget is scheduled for Tuesday.
Meanwhile Nova, the vehicle owned by De Agostini which has launched a takeover bid on DeA Capital, has filed the prospectus on the offer aimed at delisting the company with Consob.
In Piazza Affari, upward trades for Mps, utilities are opposed
It soared among the banks Monte Paschi Bank +6,4% which leaps by 6,4% to 2,10 euros, managing to cross the psychological resistance of 2 euros. In the rest of the sector, the Bigs moved little.
Out of FTSE Mib, Avio tries to rebound +0,8%) after yesterday's collapse (-9,5%) following the failure of the Vega C launch which could have a negative impact, in terms of extraordinary costs to be borne by the company and slowdowns in 'activity.
Contrast the utility. Last Tuesday, after two months of waiting, the go-ahead from Brussels arrived for the rule desired by the Draghi government in the Aiuti Ter decree to cover the liquidity needs of the utilities exposed on the margin calls for energy supply contracts with a Sace guarantee. Now the utilities are rushing to close the contracts with the banks and with Sace before the end of the year, because the newly authorized regulation will expire at the end of December.
In pole position Enel -0,12% which had started negotiations with a pool of banks and Cdp for a credit line of around 12 billion against an exposure of around 10 billion on derivatives linked to energy supply contracts.
In positive ground it travels Telecom Italy +0,42% awaiting the outcome of the new meeting between the executive and the main shareholders of the former incumbent of the telecommunications companies. The summit, set for tomorrow 23 December, should get to the heart of possible industrial solutions, starting with an analysis of the issues relating to debt and employment. Yesterday, the CEO Peter Labriola, wrote a letter to employees underlining that TIM is a living company, which in 2022 achieved some important milestones.
Europe waiting for US data
The US stock market seems to have lost the drive that yesterday brought the three main indices to close with increases of around 1,5%. the future ofS & P 500 and Nasdaq they are down 0,2%.
The final data is expected at 14.30 GDP for the third quarter: growth should be 2,9%. New jobless claims are expected to increase by about ten thousand to 222.000. The leading indicator, on the agenda for 16.00, should show a drop of 0,5% in November. Tomorrow's macroeconomic data should be more relevant: again at 14.30 pm, the Federal Reserve's most followed inflation indicator, the Personal Consumer Expenditure, will be released.
