Stock markets in the euro area are proceeding slowly at the start of the week, but remain cautiously positive despite the disappointing accounts of some major US banks and the mixed performance of Wall Street, which today returned to trading after the eve holiday.
Business Square has recovered a lot in the final stages, on rumors of a more cautious ECB in the next interventions on rates (thus also the yield of the BTP on the secondary has fallen), however the Ftse Eb it marks +0,31% to 25.981 basis points and shows pre-war levels. The picture is analogous to Frankfurt + 0,33% Paris + 0,48% Madrid + 0,17% Amsterdam +0,06%. Off the bat London is slightly down, -0,09%.
Dow Jones in red with Goldman Sachs
Overseas Wall Street proceeds out of tune. He especially loses the Dow Jones (-1%) weighted by the shares of large banks such as Goldman Sachs, which drops almost 7%. The giant saw profits plummet by about two-thirds in the latter part of the year and filed lower-than-estimates accounts. Revenues were $10,59 billion, below $10,7 billion forecast. Earnings per share came in at $3,32, down from $5,48 expectations.
Weakness also invests JP Morgan (-2%), while Morgan Stanley flies (+6,2%), after showing declining profits, but exceeding market estimates with profit attributable to shareholders equal to 2,11 billion dollars.
In Europe everyone is crazy about Louis Vuitton
The continental climate was positively influenced by the capitalization record of 400 billion euro achieved in the session by Louis Vuitton, which then retreated a bit to close with a gain of 0,39%. Beijing also contributed to giving confidence to European investors by announcing that the Covid 19 pandemic in the Celestial Empire has already reached its peak. This partially offset the concerns about the Chinese growth, which in 2022 recorded the most modest increase in GDP for almost half a century (+3%). In the fourth quarter, however, things went better than expected (+2,9%).
Meanwhile, German economic sentiment improved to 16,9 points in January, after the progress already seen in December. And the inflation of the leading economy in the Eurozone is down: -0,8% last month compared to November (+8,6% per year). Based on the data communicated today, in 2002 consumer prices in Germany marked an increase of 7,9% compared to 2021.
Things got worse in Italy. According to Istat estimates, in December there was an increase of 0,3% per month (11,6% per year), for an average of prices that grew by 2022% in 8,1.
Finally, Europe seems intent on keeping pace with the US and China, in the green industrial challenge, and studies common projects, starting with an industrial plan for the Green Deal as announced by Ursula von der Leyen at the World Economic Forum in Davos.
Oil rises, OPEC optimistic about 2023
On the currency market theeuro remains clinging to 1,08 against the dollar.
Among the raw materials we appreciate the Petroleum, like Brent, +1,7%, 85,9 dollars a barrel. According to OPEC, Chinese oil demand will rebound this year thanks to the easing of restrictions imposed by the country against Covid-19 and will drive global growth. The cartel has expressed optimism about the prospects for the world economy in 2023.
Il gas in Amsterdam it expands a bit, but remains below 60 euros per Mwh.
Recordati and Leonardo stand out in Piazza Affari
Leading today's increases in the Ftse Mib is Leonardo +4,9%, after the "buy" of Goldman Sachs.
Also Recordati makes a big leap, +4,42% and thus celebrates the “buy” indication of Intermonte.
Well also Tenaris + 3,03% Prysmian + 2,24% Ferrari + 1,84%.
stm gains 2,07% looking to Barclays who started coverage with overweight.
The sales side is also today led by Iveco, -2,17%, which retreats a bit after the rush at the start of the year.
The banks are negative: Understanding -1,05% Bper -1,54% Unicredit -0,88%. Goes down Sapiens -0,93%:
Spreads down; the yield of the BTP below 4%
The serenity is also back on government bonds. The spread between ten-year BTPs and Bunds with the same duration, it falls by 184 basis points (-1,65%) and the rate on the Italian bond returns below 4% to 3,89%; that of the German stock is indicated at +2,05%.
