• The price lists of the area Asia Pacific they go up this morning at maximum for 7 months. The exchanges in the Chinese area are still missing, but the race has been led by the Korean Kospi, up 1,3% and Singapore + 1,7%.
• The stock exchanges of Europe should open slightly lower, EuroStoxx50 futures mark -0,2%. Improves the euro , Milan and the Dax +9% in January
• The Eurozone PMI indices they surprised positively; The Composite Purchasing, considered a good indicator of the euro zone's general economic health, rose this month to 50,2 from 49,3 in December, for the first time since June above the 50 mark.
• Modest rise in equity indices. To the positive signs, including the thud of the gas price (-12% at 58 euros) contrasts with the rhetoric of central bankers of the ECB: Milano +0,24%. the balance since the beginning of the year is on average around +9% for Eurostoxx50, Dax of Frankfurt and FTSEMIB. On these levels it would close the best month of January in the last 30 years.
• Shopping on the government bonds; the yield of BTP ten-year contract falls to 3,91%, -10 basis points. German Bund at 2,15%. Spread at 181 points.
Today the Ifo index, OK for Leopards in Ukraine
• Turn in the conflict. German Chancellor Olaf Scholz has decided to send Leopard tanks2 to Ukraine and to allow other countries, such as the Poland, to do it. The decision affects at least one Leopard2 A6 tank company, according to Der Spiegel.
• The euro it strengthened against the dollar at the sixth consecutive decline with the cross above 1,09 for the first time since April. The call for moderation on monetary tightening arrived yesterday evening from the Italian member of the board of the ECB, Fabio Panetta, it hasn't stopped the rush of the euro.
• Today at 10 i will be out trust data. The optimism of German entrepreneurs should have improved in January to 90,30 points from 88,6 in December.
Microsoft goes up then folds. But runs the cloud
Stock markets waited in vain for signals from the American session. The multitude of quarterly reports released yesterday on Wall Street should have given investors a wide range of indications capable of guiding the indices, but this was not the case: Nasdaq -0,3% to 11.334 points, S & P500 -0,1% to 4.016 points. The most awaited event of the day, i Microsoft accounts, it was held on a closed stock market. The stock's report was mixed: first up 5%, in front of the growth of thecloud activity, then under braking below parity, following the statements of the CEO Satya Nadella who said he was cautious about the business trend in the coming months. Analysts' questions focused on developments in thealliance with Open Ai, developed through Gpt chat. “There are many ways to expand the ISO of this technology into our products,” Nadella said, stressing however that it is “too early” to create an autonomous business unit. The company plans a turnover from 50,5-51,5 billion for the current quarter, lower than analysts' expectations (52,43 billion).
Nasdaq futures are down 0,5%. Today the results of Tesla, Boeing and International Business Machines come out.
Il Treasury Notes ten-year bonds trade at 3,46%, from 3,50% yesterday. The gas falls below 60 euros, Petroleum in recovery. Continue the descent of commodity, from agricultural raw materials to gas. Even in the USA, gas loses -3% and slips to the lows of the last 18 months. In Europe – 11% at 58 euros, -22% since the beginning of the year.
Eni predicts that thanks to imports from Algeria it will be possible to do without Russia by 2024. Bloomberg reports that to date, the utilization rates of gas reserves in Europe are similar to those of 2020. The reactivation of Freeport, one of the main American plants for the export of LNG (liquefied natural gas), has already had and will continue to have beneficial effects on gas supplies in Europe.
The prices of crude they are slightly recovering from yesterday's -2,4%: Brent at 86.50 dollars a barrel. Concerns over a slowdown in the global economy and an expected increase in US oil inventories offset hopes for a recovery in fuel demand from China's top importer. The data is out today stocks of the EIA, preliminary indications are above estimates.
Bitcoin down slightly to $22.700: the indications coming from Microsoft have cooled the enthusiasm around tech and consequently on riskier assets such as cryptocurrencies.
Morgan Stanley cuts Stellantis, for Citi Saipem is Buy
In the spotlight stellantis. Morgan Stanley cuts the target price to 18 euros. The company said it recalled 76.000 plug-in hybrid electric minivans due to a short circuit that could cause the engine to suddenly stall.
Saipem: Citi raises rating to Buy.
Amplifon. Jefferies takes recommendation to Buy from Hold. Target at 29,20 euros.
Bank Bpm. JP Morgan raises the target price to 4 euros. Credit Agricole does not intend to exceed the threshold of 10% in Banco Bpm's capital. This was reiterated by the head of the French banking group in Italy Giampiero Maioli on the sidelines of an event.
Tim. The board of the Cassa Depositi e Prestiti is meeting today, the offer for the Tim network company should also be on the agenda.
