Under the pressure of some excellent quarterly publications i price lists Europeans they go hunting record historical figures, touching up the highs of the beginning of the millennium. The EuroStoxx50 index +0,6% reaches its highest level since 2000. New historical highs for the Eurostoxx 600 index, for the Frankfurt Dax and for the Paris Cac. Ftse Mib of Milan +0,8%, around 31.600 rock points, new highs for 15 years.
Prysmian and Stellantis shine in Milan
To take off Square Business è Stellantis +5,1%, supported by accounts and, by the rising dividend and the announcement of a 3 billion buyback. The proposed dividend on the 2023 results is equal to 1,55 euros per ordinary share, with an increase of approximately 16% compared to the previous year. The group's CFO Natalie Knight said in a call that the difficulties during 2024 will be significant but less than in 2023.
But the group's performance is surpassed by that of Prysmian +6,5% which reaps the fruits of growth on international markets, perfecting the contracts for three orders with an aggregate value of approximately 5 billion with Amprion, a European transmission system operator (TSO), for two offshore grid connection systems, BalWin1 and BalWin2, and the DC34 terrestrial cable project.
The positive streak does not stop Leonardo +2%. CEO Roberto Cingolani, when asked about a possible interest in Iveco's defense unit, simply said that the two companies have recently been in contact but that any decision will be made with "money and technology" in mind. The group, he said, is open to possible acquisitions, carried out in parallel with larger joint ventures with European operators.
They also run Diasorin e Moncler, just to underline the 360-degree liveliness of our home manufacturing. For once, however, the banks are marking time: Bpm bank -2%. Fondazione Crt has decided to sell its share equal to 1,8% Bad too Bper e Mount Paschi.
US stock markets are cautious, spreads at minimums
US stock markets are much more cautious. Future Wall Street on equality. Nasdaq + 0,1%. S & P500 + 0,1%. Dow Jones +0,2%. Index Russell 2000 of mid mall caps +2,1%.
Tim -1%. Fourth quarter results without major surprises. The positive trend is confirmed in 2023: ebitda after lease increases by 6,1% to 5,3 billion (slightly above consensus) and revenues by 3,1% to 16,3 billion (in line with expectations). In the fourth quarter the domestic market returned to growth for the first time in 22 quarters.
Government bonds consolidate yesterday's excellent momentum. Ten-year Treasury Note at 4,23%. Bund at 2,31%. BTP at 3,81%. The spread falls to 149 basis points, the lowest level in two years.
The party returns to the markets but the EU avoided recession "by a hair's breadth"
Euro dollar at 1,073. “I never said we didn't intend to reduce rates. I'm trying to be very careful about this issue. The process of slowing down inflation is ongoing, the Governing Council must be more confident that this process will lead us to the objective of +2% in a sustainable way", explained the President of the ECB, Christine Lagarde.
Stock markets advance but lThe economy is suffering. The US commissioner is lapidary Valdis Dombrovsky: “In 2023, growth was held back by the erosion of household purchasing power, strong monetary tightening, the partial withdrawal of fiscal support and the decline in external demand. After narrowly avoiding a technical recession in the second half of last year, the outlook for the EU economy in the first quarter of 2024 remains weak."
