Luxury stocks stand out today in Europe (driven by Chinese easing of anti-Covid measures), but not enough to Business Square to end the day in progress. The Ftse Mib opens the short week with a minimum negative variation, -0,09%, juggling between the progress of Moncler (+3,02%) and the losses of Erg (-2,22%). Out of the main basket is the light Juventus (+1,97%, below the highs of the day), on the day of the green light from the shareholders the financial statements closed with a loss of 238,1 million.
The main Milanese index is thus preparing to archive a black year, with a drop of around 13%, with sentiment strongly influenced by the tightening of central banks. Not by chance also i government bond prices they've gone down a lot and yields have gone up. Today, the Italian 4,6-year rate went up to 2,5% and that of the German bond to XNUMX%, for one spread stable at 209 basis points.
On the other hand, 2022 will be remembered as one of the worst in recent history, for global equities and bonds and also for Wall Street, for which it will be the ugliest since 2008.
Europe with little movement, the luxury of Paris stands out
To stay with the day's data, the final photo of the Old Continent's stock exchanges sees Paris to the fore, with a gain of 0,7%, thanks to the progress of lvmh + 2,3% Hermes (+ 1,97%) and Kering (+1,42%). It's positive Frankfurt +0,4%; are practically unchanged Amsterdam, Madrid e London.
Instilling some optimism in the morning were the news from Beijing: the Dragon's decision to remove the quarantine for those arriving from abroad starting from January 8, replacing it with a negative swab within 48 hours. This is despite the fact that Covid infections are still growing.
The uncertain start of Wall Street he then curbed his enthusiasm.
Wall Street contrasted, Chinese stocks did well
In New York, the opening was mixed and the indices now proceed in no particular order: the Dow Jones (+0,38%) and go down S & P 500 (-0,1%) And Nasdaq (-0,81%). Among the titles, the Chinese giants shine like AliBaba (+4,42%), while there is no peace for Tesla (-7,17%) which has lost around 65% since the beginning of the year. Influencing today's sell-off is news that the electric car giant will reduce production at its plant in Shanghai, in January, after the closure imposed for the last week of December. Southwest Airlines (-5,8%), is the worst on the S&P 500, after the airline canceled thousands of flights due to the storm that hit the US, attracting criticism from the White House.
On the foreign exchange market, the dollar andeuro changes around 1,065. The ruble, on the other hand, continues to fall due to the weight of the sanctions.
Good for oil, gas in sharp decline
Among the raw materials salt the Petroleum, favored by China's decisions. Brent +1,11%, 84,85 dollars a barrel; Wti +0,83%, 80,22 dollars a barrel.
Back the gas in Amsterdam, which deals these days at pre-war levels. Today it is even below 80 euros per Mwh.
The effects of these declines in Italy, however, will not be seen immediately on the bills. According to the president of Nomina Energia, Davide Tabarelli, in fact the cost of electricity is ready to go down but not the gas one. “The estimated variation on the basis of wholesale electricity prices, which have fallen on the pressure of gas prices, is of the order of 25%, about 16 euro cents less per kWh which should bring tariffs back towards 50 cents per kWh”. The Arera will announce the change by the end of the year, but for gas "a 20% increase in December bills to 1,48 euros per cubic meter" is expected.
Piazza Affari, oil companies are doing well; focus on Juventus
On the main list of Business Square oil stocks such as Saipem + 2,39% Eni + 0,59% Tenaris +0,0,39%. But energy collapses with Erg and utilities (Terna -0,95%).
In the automotive industry cues on Cnh, +1,52%. In well managed savings Azimuth +1,3%. The banks, on the other hand, are weak, especially the former co-operative ones Bpm bank -0,74% and Bper -0,49%.
The declines, among the blue chips, touch Recordati -1,25% stm -1,13% nexi -1,05%.
Outside the main basket, luxury shows off with Ferragamo + 1,34% Tod’s + 1,8% cucinelli + 0,65%.
Between banks Ps loses 0,68%, after the confirmation capital requirements by the ECB and the indication that, following the 2,5 billion capital increase, the absolute ban on dividends will no longer apply.
La Juventus it is one of the most attractive stocks of the moment, with the market continuing to bet on a delisting "the only way - according to an operator interviewed by Reuters - to get out of the situation linked to the alleged false accounting in the last three years". Today Andrea Agnelli, in his last meeting as president, argued that "the remarks raised against us are not justified".
