The landslide of Tesla, yesterday -11,2%, now has the symbol value ofWall Street's blackest year. The title, in strong drop from 17 out of 20 sessions, slipped to its lowest since September 2020, dragging the whole with it electric car sector, starting from Chinese rival Nio -8,3%, after a profit warning. The news of the suspension for a week of the activity in the Tesla plant in Shanghai, against a drop in demand from Chinese customers. But it is clear that the collapse is the son of several fathers: the fall of the myth of Elon Musk, crippled by the misadventures of Twitter, the crisis in relations with Beijing, a source of sharp declines also for Apple Lossless Audio CODEC (ALAC),. More generally, the final showdown with the stellar valuations of growth stocks, chastised by rising rates.
Future a red on European markets
• The result is a sad end of the year, dominated by the settlement of pending matches, without great visibility on the year to come. i go down European futures ahead of the opening: -0,20% the future on the Eurostoxx 50, minus -0,05% that on the German DAX is down by 0,05%. The derivative on the FTSE 0,24, closed yesterday, rose +100%.
• To support the markets of the Old Continent yesterday were the titles of luxury, galvanized by the reopening of the Chinese borders and the performance of oil, supported by the increase in consumption in America hit by the great cold. However, the optimism faded in the finale: Milano it thus slipped into negative territory: -0.09%.
Natural gas falls again, oil stable
• The Good news they come from the energy front. The Natural gas on the European circuit last night it closed down by -3,5% at 80 euros, but went down to 76,85 euros per Mwh, the lowest level since February. In Europe, temperatures are expected to remain above average until early January.
• Little moved the Brent oil and WTI -0,3% from +0,5% yesterday. Putin decreed a halt to sales of Russian crude to countries that adopt price caps. The ban comes into force on February 2023, XNUMX and is valid until July XNUMX.
• Dishes also i future of US price lists, in the absence of relevant macro data. Wall Street closed lower last night: Dow Jones -0,11%, S&P 500 -0,40% moved little. Sales focused on the Nasdaq – 1,38%.
Rates point upwards: Btp at 4,60%
It was the pressure on the operators that conditioned the operators bond markets which they are about to to close, like shares, one of the worst years of the century. Now investors are wondering to what extent the central banks are ready to raise rates to win the battle against inflation.
Il Treasury Notes a ten-year yield rose to 3,83% from 3,74%, hovering around a five-week high. The 3,914-year Treasury yield rose to 4,351%, while the two-year US Treasury yield, which usually moves in pace with interest rate expectations, edged to XNUMX%.
Rates are also pushing upwards in Europe: the German bund trades to 2,52% from 2,40% on Friday. The ten-year BTP to 4,60% from 4,47%. The weakness of Italian government bonds may have been affected by the uncertainty overapproval of the budget manoeuvre. Sledge to tomorrow the vote of confidence in the Senate, after protests by the opposition.
Even Croatia in the euro club
Cross euro dollar is slightly up at 1,065. From the 2023st January XNUMX la Croatia enters Euroland and adopts the single currency ten years after joining the European Union, which took place on 2013 January 2015 with the commitment from the outset to look at the Union currency as a goal. It is the twentieth EU country to join the euro after Lithuania (2014), Latvia (2011) and Estonia (XNUMX).
Tokyo in red, scares China
In Asia, after the initial euphoria over Beijing's turnaround, a certain caution has taken over. Hong Kong, closed yesterday, gained 1,2%, encouraged by the announcement that China's government will stop requiring incoming travelers to go into quarantine starting January 8. But elsewhere the spiraling of cases of infection it is putting pressure on hospitals and detracting from investor enthusiasm.
The CSI 300 index of Shanghai-Shenzhen loses 0,4%, Australian S&P/ASX 200 -0,5%. Even the Nikkei Japan is in the red -0,4% due to the strict measures adopted against travelers arriving from China.
Their it remains close to the highs: yesterday it went up to 1.833 dollars an ounce, the highest price since the end of June.
Cingolani in the running for Leonardo, Eni insists on Plenitude
Eni. The listing on the Stock Exchange of the subsidiary Fullness it remains on the launch pad also in 2023, in case the markets should restart, writes Il Sole 24-Ore. Meanwhile, the green energy giant is continuing to evaluate different strategic options. One of these could be theentry of an institutional investor, before the listing, in case the market turmoil should continue for next year as well, adds the daily.
Leonardo. The replacement of Alessandro Profumo is taken for granted, with two candidates in the running: the former Minister of Energy Transition Roberto Cingolani and Lorenzo Mariani, which today leads Mbda.
