Flat calm. Or not? Apparently the main European indices are lagging behind. But there are hot topics. On the contrary. Here is the latest stock market news.
- Business Square, in the late morning, marks parity just above 24.600 points., a similar variation for the Eurostoxx index. The positive push from China, up after the easing of the anti-Covid restrictions is offset by the decline in the PMI indices, which shows that the services of the Old Continent ended November in the red, as has happened 5 times in the last six months.
- To limit the damage they thought about two lost maximums. Vodafone rises by half a point after the resignation of CEO Nick Read.
- Fly the big sick of European banks: the Swiss credit jumped 8% on the wave of news that the Saudi prince MBS together with a US private fund are ready to invest 1 billion dollars in the new investment banking division of the aggressive Swiss company.
- Meanwhile, euro zone investor morale rose this month to its highest level since June
Stock exchange latest news: BMW, Volkswagen, Renault and Stellantis on the move
The titles of the car companies, in the forefront of the confrontation that threatens to ignite between the EU and the United States, in the face of the incentives for the US-made car of the Biden plan Inflation Reduction Act of 2022 . Yet, while awaiting a move from Brussels, the sector is in great turmoil:
bmw announced the collaboration with Truong Hai Auto Corporation to produce the BMW 3 Series, 5 Series, X3 and X5 models in Vietnam.
Volkswagen announced that CEO Oliver Blume will present the new software strategy on December 15. Overturning the processes of making new models.
Meanwhile, the signing of the renewal of the alliance between Renault and Nissan (denied the conclusion next Wednesday) and of the landing of Stellantis in India, chosen as the base for the production of electric cars in alternative to China.
Finally Tesla. The group has decided to cut December production of the Model Y at its Shanghai plant by more than -20% compared to November. Reuters was unable to immediately ascertain the reason for the production cut.
Stock market latest news: oil rises, Saipem flies
- Another hot front is energy, after the weekend's decisions: OPEC+ has left production levels unchanged. Meanwhile, the G7 has launched today the price cap on crude oil by sea coming from Russia. THE oil prices they rose sharply this morning also thanks to the positive signals from China, the world's leading oil importer. Brent futures rose $1,84 (+2,15%) to $87,41 a barrel while WTI futures gained $1,75.
- At Piazza Affari it takes off Saipem +5,24% The rating agency S&P Global has raised the rating on the oil service to 'BB+' with a stable outlook. Tenaris also rose +1,4%.
- Il Gases in Europe slows up by +0,5% to 136 euro/Mwh from +5% of the opening. No convincing agreement has yet been reached on the gas price cap imported from Russia. Seven European Union countries, including Italy, have proposed to set a ceiling on the price: 160 euros per megawatt hour, far from the ceiling of 275 euros proposed by the European Commission
Bank of Italy raises remarks on the Budget Law but the Btp rate drops
Despite the heavy remarks by the Bank of Italy at the first budget maneuver by the Meloni government, the honeymoon between the BTPs and the markets continues. The rate of ten-year BTP it drops to 3,73% from 3,77% at the last closing, while the gap between the BTP and Bund rates on the 10-year segment stands at 188 basis points from 192 at the end of Friday's session.
Yields drop somewhat across the the euro area. Even in France, despite the cut of the outlook on the rating to 'negative' from 'stable' made on Friday by S&P Global, the 2,29-year OAT rate travels to 2,31% from XNUMX% at the previous closing. Yesterday the ECB adviser Francois Villeroy de Galhau spoke of a interest rate hike by 50 basis points at its December 15 meeting.
The world of the luxury on expectations of a progressive easing of anti-Covid measures in China. Moncler increases by 1%, Cucinelli +1,5%, Ferragamo +0,8% will disburse an extra 1.000 euros to employees. According to Intesa Sanpaolo analysts, we could be at the beginning of a gradual exit from the toughest restrictions, but the process could take a few months and the reopening within the Chinese New Year holidays is not a given for now.
On the rise Juventus +0,5% recovery from the lows.
