Business Square takes a small step forward again today, +0,13%, 27.533 points, but is bringing up the rear in a cautiously optimistic European context in the vicinity of the intervention of the president of the ECB Christine Lagarde to the European Parliament, expected around 18.30-19. The expectation of new tightening by central banks and doubts about the size and duration of the next ones rate hikes, are the main element of uncertainty for the period. And if today the Milanese share has been stagnant, the bond has undoubtedly suffered. In fact, the yield of the ten-year benchmark BTP rose, indicated at the close at 4,21% (from 4,1% yesterday), against 2,43% (from 2,41%) of the Bund of the same duration, for one spread to 178 basis points (+4,94%).
Overseas Wall Street is contrasted in the American morning, after the data on retail sales in January, which shows growth to the highest levels of 22 months (+3% compared to December) far higher than expected. On the one hand, this is good, because the economy appears to be resilient, on the other, the effects on inflation and the consequent actions of the Fed are feared. Already yesterday, the slowdown in consumer prices last month proved to be less robust than expected estimated and accompanied the New York lists towards a contrasted closure. The Nasdaq it is currently in green, also thanks to the new leap by Tesla (+6,5%).
In this context the dollar goes up againsteuro and 1,066.
Raw materials are in red. The Brent it dropped 1,73% and traded at 84,1 dollars a barrel; The wtf loses 1,2%, 78,11 dollars a barrel. Also moves backgold, with spot gold down 1,2% to $1831,9 an ounce.
Gucci signs the increase in Paris, but Barclays collapses in London
Paris, +1,21%, is the brightest star in today's European financial firmament. To pull the sprint is Carrefour (+8,5%), but the most popular sector is the luxury one. Kering (Gucci) gains 3,04% after showing a net profit up 14% and sales over 20 billion euros. Louis Vuitton it appreciates by 1,49% and is betting on men's collections with the appointment of the American musician, producer and stylist Pharrell Williams as director of the men's line.
They are more backward Frankfurt + 0,84% Amsterdam + 0,89% Madrid +0,21%. London appreciates by 0,54%, despite the plunge of Barclays, -7,8%, which reported a 14% drop in net income for the year, due to costs stemming from an administrative error – in which the bank oversold US structured notes – and the fall of investment banking fees.
Industrial production drops in Europe in December, but not in Italy
On the macro front, industrial production in the Eurozone fell in December: -1,1% compared to November (-0,4% in the EU), the annual average is a growth of 0,9%.
According to Eurostat, however, things have gone better in Italy + 1,6% France +1,1% and Spain +0,7%. The bad instead Germany -2,1%.
As far as European inflation is concerned, consumer prices in Great Britain slow down in January, but on an annual basis they remain over 10% (at 10,1%).
Milan weighed down by financial and energy costs
After having almost always run more than the other European price lists today Business Square takes a breather, balancing between industrial buys and financial and energy sells.
Starting at the top, the podium actions are Prysmian + 1,65% stellantis + 1,37% Ferrari +1,26%. The session is also positive for Campari +1,22% and Pirelli +1,17%, which closes a very volatile day, where it went from an increase of more than 2% to a suspension due to excess sales due to rumors (which then died down) on an exit from the capital of reference shareholder, Sinochem.
Bene Moncler +0,88% in the footsteps of the French fashion houses and confirmed in cash Leonardo + 0,74%.
The black jersey of the day goes to Azimuth, -3,15%, weakened by the conclusion of the sale of 0,9% of the share capital, with bookbuilding accelerated to 22,35 euro per share, by Timone Fiduciaria.
In the banking sector they are going down Mediobanca -1,44% Unicredit -1,32% Bpm bank -0,94%.
Energetic lose share: Italgas -2,84% Saipem -2,01% Tenaris -0,93%. Sales on Diasorin -1,61%.
Telecom caps earnings at 0,44%, after i results better than expected. However, it is unlikely that the company will quickly return to dividends under current conditions, according to CEO Pietro Labriola.
And the network? "We have the Kkr option on the table, it seems that another one is coming, until recently we didn't think that one was coming", he said in a conference with journalists, addressing an invitation: "Keep calm". “This is a market that will consolidate, quite quickly as well.” If the network is not sold then "there are other strategic options: we are not standing still, we will evaluate based on what happens".
Outside the main price list, it has been the subject of particular attention Soul Holding, +3,07%, following the purchase of 7,1% of the share capital by FSI Holding.
