More than leopards i European markets, which close little moved, today seem watered down kittens, squeezed between worries about the choices of central banks and the negative start of Wall Street. US mega techs are down, starting with Microsoft, which presented excellent accounts yesterday, but warned that it could fail the cloud division's earnings expectations in the current quarter. The declines knock out the Nasdaq (-1%).
The expectation of an escalation in the war in Ukraine after the Germany's decision to send 14 Leopard 2-A6 tanks to Kiev, together with other European countries that have purchased them, for a total of around eighty vehicles. In these minutes US President Joe Biden should intervene on the issue, while the German newspaper Spiegel writes that the United States, in turn, will send another battalion of Adams model tanks to help Ukraine. This helps the defense sector and also weighs positively on the balance, but it is not enough to remove worries.
Europe on standby
Basically, the European markets remain on the sidelines, balancing between sales and purchases.
Closing Business Square it is practically colorless, (-0,03% 25.875 basis points) as Frankfurt -0,06% Paris -0,09% Madrid -0,14% London -0,18%.
The black jersey of the day goes to Amsterdam -0,68% where Asml Holdin Nv lost 0,58% after yesterday hitting a nine-month high. The Dutch chip equipment maker has forecast sales growth of more than 25% for 2023.
Improve confidence in Germany. The Bank of Canada raises rates, but could stop
In Germany, the Ifo index, which measures business confidence, rose to 90,2 in January from 88,6 the previous month, in line with forecasts and on a seven-month high, to the June level.
The improving macro data lend themselves to a double reading in this phase, on the one hand they strengthen confidence in a resilient economy, on the other they can help the ECB to move decisively to bring inflation back to around 2%. A perspective kept alive even today by new statements by Eurotower members.
Meanwhile, the Central Bank of Canada it raised interest rates by 25 basis points to 4,50%, its highest level in 15 years, but it could be the last time. This is the eighth consecutive increase aimed at lowering inflation, which is still at 6,3%, but which is expected to drop significantly in 2023, according to the Canadian institute. “If the economy goes as the outlook predicts, we expect to keep rates at the current level to verify the impact of the hikes”.
Euro still at nine-month highs and stable spread
The set of news supports theeuro, which deals against the dollar around 1,09%, the highest for nine months.
Among the raw materials the Petroleum little moved: Brent rose by 0,14%, 86,25 dollars a barrel; Wti +0,46%, 80,5 dollars a barrel.
On the subject of energy the gas natural continues to weaken: for a price today around 56 euros, down by 3,72%.
While awaiting news, there is some weak tension on the secondary. The spread between 179-year BTPs and Bunds with the same duration, it closed at 0,25 basis points (+3,96%) with a growth rate indicated at 2,12% for the Italian bond and XNUMX% for the German bond.
Piazza Affari amid war roars and weak oil companies
Between the roars of war and falling oil, Business Square closes another interim session.
The blue chip queen of the day is Iveco, +3,13%, which celebrates an agreement with De Lijn (government-controlled company for public transport in Flanders), for the sale of a first batch of 65 fully electric E-WAY city buses and further lots up to a total of 500 vehicles. According to Equita, the value of the contract is between 250 and 300 million euros, a value equal to 3% of the division's turnover.
Leonardo +2,56% is confirmed in cash, also supported by rumors of a possible Turkish order for the Eurofighter consortium.
Erg it appreciates by 1,8% and, in the utility area, they are positive Italgas + 1,18% A2a +1,08 ed Ivy + 1,07%.
Bene Buzzi +1,74% and Unipol + 0,96%.
Instead, it turns off Amplifon, -0,77%, after a sparkling start thanks to the promotion to "buy" from "hold" by the analysts of Jefferies, with a target price of 29,2 euros from 26,2 euros.
The red is intense for Interpump -2,89% Saipem -1,79% nexi -1,77% Prysmian -0,96%.
