The favorable planets seemed destined to all align today, after the rally of Chinese price lists (on the increase in growth forecasts by analysts), the sustained performance of the European markets (driven by the quarterly reports) and the harmonious launch of Wall Street, galvanized by Disney (+3%). Then the American stock market slowed down and even the Old Continent took its foot off the accelerator a bit. A, which burned about $100 billion in capitalization yesterday, is down again and is the worst stock on the S&P 500.
Europe toasts to quarterly reports, Piazza Affari is still the best
The closing is positive, but below the highs of the day, in Europe where Business Square it persists in its leading role in terms of the consistency of the increases and leads the fourth consecutive session in progress, +1,26% to 27.503 basis points (the highest for about a year), with bank and industrial securities at the top of the list.
Corporate accounts, especially those of Siemens (+6,55%), push Frankfurt +0,69%, while Crédit Agricole (+3,79%) favors Paris + 0,96%. AstraZeneca (+4,37%) highlights a London +0,35%, but Credit Suisse drops 14,73% a Zurich (-0,47%), due to the worst quarterly loss since the great financial crisis of 2008 and the forecast of a further substantial loss this year, due to a real customer flight.
In the rest of the continent it is brilliant Amsterdam +1,16%, while being cautious Madrid + 0,19%.
Inflation slows down in Germany
The slowdown in theinflation in Germany in January: +8,7%, against +8,9 expected, the minimum for five months now. According to the Federal Statistical Office, the German consumer price index grew by 1% on a monthly basis.
However, the signs of improvement, read from an ECB perspective, are balanced by the decision of the Swedish central bank to raise rates by 50 basis points, then expecting further rate hikes.
In Great Britain, on the other hand, the governor of the Bank of England, Andrew Bailey, observes that London has turned the page on overall inflation, but further evidence is needed that the ongoing process is lasting.
Overseas, the announcement of a 7 job cut by Disney invigorates the stock and, to some extent, sheds a different light on the strong employment report seen recently, especially as the week ended February 4 unemployment claims rose to 196 thousand, against expectations of 190 thousand. If jobs, along with inflation, are the Fed's lodestar, these signals could favor the cautious stance that markets favor.
In this context runs the Swedish krona, which is up more than 2% against the dollar and also appreciates against the euro, despite the fact that the ECB has so far shown no signs of abating in its strict monetary policy stance. There single currency it is well tuned against the greenback, at exchange rates around 1,075.
On the energy front, it shows signs of slowing down Petroleum: Brent is currently trading down 1,8% to $83,56 a barrel; Texan crude yields a similar percentage and currently prices around 77 dollars a barrel.
The futures of natural gas in Amsterdam they are in the red and are now close to 53 euros per MWh.
Piazza Affari, with the wind in its sails
Piazza Affari, under a deluge of quarterly reports, continues to sail with the wind in its sails. Leading the list today is unicredit, which closes with a gain of 4,13% with the placement of a popular bond that yields 4,5% and after recently presenting the 2022 accounts, which saw net profit jump to the highest since 2018.
Among the blue chips of the sector they shine Understanding, +1,42% and Mediobanca +1,52%, which today showed a balance sheet with an all-time record for revenues and profit. He does well too Bper, +0,98%, which had skidded at the start after the accounts seen yesterday and partially disappointing.
Outside the main basket, it fills up with purchases Ps, +12,29 with results beyond expectations.
On the Ftse Mib, the stocks of the auto sector archive an effervescent session: stellantis + 3,68% Iveco + 2,73% Cnh + 2,13%.
Bene stm +2,09% and Buzzi +2% with quarterly results. Always toned Leonardo +1,35%. Don't take advantage of the risk-friendly climate Diasorin -2,27%.
Saipem loses 1,67%, after the conspicuous gains of the period, while Eni realizes a gain of 1,3%.
Profit-taking penalizes Telecom -1,57%, while Ivy not convincing (-1,4%) following the presentation of the industrial plan to 2026.
The spread goes down
The session is also in favor of the Italian paper. The spread between ten-year BTPs and Bunds with the same duration, it falls by 173 basis points (-3,04%), with returns down to 4% and 2,27% respectively.
