Bowls practically stationary on the markets waiting for Jerome PowellI European lists they close slowly e Wall Street moves mixed before the Fed president has his say at 18.40 Italian time, in light of the strong US employment report seen last week and which could lead the central banker to tougher positions than hoped.
Business Square is still the best in Europe today, +0,36%, and strengthens its position by more than 27 basis points (27.118) thanks to purchases of banking, oil and gas Telecom. They are almost flat Frankfurt -0,14% Paris -0,07% Amsterdam + 0,09% Madrid + 0,11%. London marks an increase of 0,35%, in line with Milan, helped by the leap in the oil sector, with BP rallying at +7,64%, after communicating record profits, the increase in the dividend and a share buyback for 2,75 .XNUMX billion dollars.
Nervous Wall Street waiting for Powell
Nervousness remains the dominant trait of trading on Wall Street in the morning hours preceding the speech by Jerome Powell, chairman of the Fed, at the Economic Club of Washington. Uncertainty is given by the strong employment report seen last week, which could prompt the Fed to continue tightening and keep rates high for longer than previously estimated by the market. Traders speculate that the central bank will push the key rate to 5,1% in June, levels loudly supported by Fed advisers. Raphael Bostic, president of the Atlanta Fed to Neel Kashkari, president of the Minneapolis Fed, in favor of further rate hikes and a severe fight against inflation.
News of new monetary tightening then came from central bank of australia, which raised the cost of money by 25 basis points and, surprisingly, announced that further increases will be needed.
In this context, the dollar remained tonic and the euro fell to around 1,07. They suffer i T Bond, which see prices falling and rates rising.
The futures of the Petroleum, Brent crude appreciated by 1,72%, to 82,4 dollars a barrel and Texan crude rose by 1,9%, to 75,54 dollars a barrel.
On the other hand, the gas, under 55 euros per Mwh in Amsterdam.
Piazza Affari shines with Saipem, Telecom and Banco Bpm
Business Square it still shines today thanks to the purchases of banks and oil stocks. It also remains prominent Telecom, +2,26%. The bottom kkr, at the request of Consob, specified that its offer has a duration of four weeks from the date of dispatch (February 24st), unless otherwise agreed between the parties. In fact, Tim's board of directors should meet on February XNUMX to discuss the matter and take the necessary decisions. The premier's response was laconic Giorgia Meloni, asked about the match in progress: "I think we will soon have clear information to give".
The best blue chip of the day is Saipem, +5,19%, in an oil sector that looks to the leap of BP and the rise in oil prices. Well Eni +1,53%. Recover ground Saras +2,87%, very sold recently, but after consistent previous gains.
Among the banks they stand out Bpm bank +1,9% and Bper +1,65%, in view of the results. It confirms well bought Understanding, +0,88%, with the CEO Carlo Messina who sees the need for an operation of a European marriage to make the group a continental leader, but at the moment he does not identify adequate objectives.
In managed savings it is appreciated Finecobank +1,65%, which recorded a record profit in 2022. The CEO Alessandro Foti is optimistic for the future and estimates "solid growth also for the year that has just begun, as well as for the next ones".
The utilities archived a satisfying session, favored by an RBC report that improved the assessments. They stand out Ivy + 1,76% Terna + 1,28% Italgas + 1,26% A2a + 0,97%.
Closes at the bottom of the list Amplifon, -2,46%, penalized by profit taking after having recorded a 13% growth since the beginning of January.
They go down Pirelli -2,21% Interpump -1,46% Campari -1,27%.
Yields on the secondary continue to rise
Yields on sovereign bonds continue to rise: the 4,04-year BTP rate is indicated at 2,27% at the close and that of the Bund with the same duration at XNUMX%, for one spread stable at 178 basis points (+0,42%).
From the page where the ECB updates on Pepp purchases, it emerges that Frankfurt has recently focused on Italian securities. In fact, in the December-January two-month period, Eurotower increased its portfolio by 631 million Italian Btp through the pandemic programme. The overall net position for all euro area countries is 1,661 billion.
