Business Square it is confirmed as positive (+0,28%) and grabs 26 thousand points (26.054), at the end of a flat session in Europe and weak, at the start, in New York. The Milanese price list consolidates at its pre-war high, also favored by the decline in the spread. The yield differential between the 175-year BTP and its German counterpart fell by 4,79 basis points (-2022%), to its lowest since April XNUMX. returns down: +3,72% for the Italian stock; +1,97% for the Bund.
It should be recalled that the Italian paper rally began late yesterday afternoon following press rumors on the fact that the ECB, after the next tightening of 50 basis points in February, should slow down to 25 points starting from March. The market seems to be betting on this scenario, despite the harsh statements of some advisors. To favor the most favorable hypothesis is the descent of the gas price (although today it is back above 60 euros) in Europe and data on US inflation, while the Bank of Japan has confirmed its ultra-accommodating policy.
Europe little moved. Fly Lufthansa after the offer for Ita
According to the elite of the world economy, meeting in Davos, any recession in Europe and the USA will be short-lived. On the other hand, inflation remains very high, but offers new signs of a slowdown and the central bank of Japan amazes everyone by confirming its dovish policy, after the surprise in December. Meanwhile, China is ready to restart, despite the Covid, and oil flies. In this context, Bears and Bulls continue to fight, for a final day that sees Madrid up by 0,46%, while they are flat Paris + 0,09% Amsterdam +0,04% and Frankfurt -0,03%. It remains slightly negative London, -0,28%.
Among the various titles, the German stands out Lufthansa, +5,37%, which presented the MEF with aoffer to buy of a minority stake in Ita.
On the currency market theeuro-dollar is in favor of the single currency which trades around 1,084.
Il Petroleum runs: Brent +2,14% to 87,76 dollars a barrel; Wti +2,24%, 81,98 dollars a barrel. Crude celebrates the forecasts of the International Energy Agency (IEA), according to which the abolition of the anti-Covid-19 restrictive measures in China will cause global oil demand to reach a new record this year, while the ceiling price hike imposed on Russia could dent supply.
Oil companies stand out on the Ftse Mib; mixed banks
Oil stocks thus stand out on the main index of Piazza Affari. In particular, Saipem +7,06% and Tenaris +4,15%, driven by the positive recommendation by Bank of America analysts on oil services stocks.
Banks are mixed: Bper it appreciates by 3,3%, but the big Understanding e Unicredit they lose respectively 0,49% and -0,27%. Down too Mediobanca -1,12%
In the industry he returns to the shields Iveco +165% and they are appreciated stm + 1,96% Interpump + 1,04% Prysmian +0,85%. Well the utilities: Snam +1,42% and Italgas + 0,92%.
I'm in red Campari -1,93% Amplifon -1,49% Telecom -1,42%.
Inflation slows down in Europe and the USA
The freshest macroeconomic news arrived in the early afternoon from the USA, where i producer prices in December they decreased by 0,5% compared to November, against expectations of -0,1%. The "core" component - that without food, energy and commercial services - increased by 0,1%, in line with expectations. In 2022, producer prices increased by 6,2%, after the +10% in 2021, against expectations for a +6,8%, after the annual +7,3% recorded in November. Furthermore, also in December, retail sales decreased by 1,1% compared to the previous month to 677,1 billion dollars, after -0,6% in November; expectations were for -1%. Compared to a year earlier, recorded a +6%, after the +6,5% of the previous month. Total sales in the 12 months of 2022 were 9,2% higher than in 2021. Industrial production fell by 0,7%, against expectations for a decrease of 0,1%.
Inflation is also slowing down in Europe
Eurostat he confirmed that in December the annual rate in the euro area fell to +9,2% from +10,1% in November and after +10,6% in October (highest peak ever reached). As of November 2021, it was at 5%. In the EU, +10,4% in December after 11,1% in November. In Italy 12,3% after 12,6% in November, 4,2% a year earlier).
Good news from UK, where inflation subsides a bit for the second consecutive month. In December, year-on-year it fell to 10,5%, from 10,7% in November. Over the month, however, it remained stable at 0,4%.
