Wall Street jitters are weighing on the European stock exchanges which close even today down: Business Square it is the worst, -1,15%, due to profit taking and low volumes for the Feast of the Immaculate Conception on Thursday, even though the Stock Exchange will be open for most of the day. I'm at a fractional loss Frankfurt -0,7% London -0,56% Amsterdam -0,47% Madrid -0,47% Paris -0,14%.
A New York the indices travel in the red after the losses of the previous day and seem destined to aggravate their weekly budget. In particular Meta ballasted the Nasdaq (-1,4%) with a crash of more than 5%.
THEeuro-dollar is little moved and the exchange rate remains around 1,051. It is wavy the Petroleum, in a volatile market focused more on central bank actions than on the ceiling on the price of Russian crude oil. Brent loses 0,63% and trades at 82,16 dollars a barrel, WTI loses 1,77% 75,57, $XNUMX a barrel.
Focus on central banks
Investor attention remains on central banks, ahead of the last meetings of the year Fed, ECB and Bank of England next week.
The last US macroeconomic data they raise fears of a central bank that will have to deal with an economy that is still very strong and with high inflation. In particular they have amazed recently i job data of November and the trend ofIsm services increased from 54,4 points in October to 56,5, against expectations for a drop to 53,3. This is the thirtieth consecutive month beyond the 50 mark that separates contraction and expansion.
On the ECB front, the chief economist Philip Lane, in an exclusive interview with Milano Finanza said that the European central bank will still have to raise i interest rates, but peak inflation may be near.
Meanwhile today the central bank of australia it raised rates by 25 basis points, bringing them to the highest levels for a decade and considered having to intervene again in the coming months.
Italian GDP down in 2023 for Istat and Fitch
2023 is fast approaching and promises to be much worse than 2022 in terms of economic growth.
Fitch once again revised downwards its forecasts for world GDP for next year due to the intensification of the fight against inflation by central banks and the deterioration of prospects for the Chinese real estate market. The agency in its outlook estimates a 1,4% worldwide growth, down from the 1,7% indicated in September 2022.
In United States growth is expected to stop in 2023 at 0,2%, from 0,5% previously estimated, due to the increased pace of monetary policy tightening.
Italy the sign will be negative, -0,1%, while this year the increase will be 3,7%.
Even Istat has revised downwards its estimates for Italy for 2023: +0,4% from +1,9% expected in June. For the current year, however, the upward correction: +3,9% from +2,8%.
Piazza Affari, Juventus crash -4%
The movements of the main list today are enclosed between the rise of Leonardo +0,76%% and the decrease of Diasorin -3,43%, while outside the perimeter of the blue chips the situation worsens Juventus (-5,33%) after the company formalized the findings of Deloitte's auditors on the financial statements as at 30 June, while specifying that it does not agree with them. For accountants there would be underestimated losses.
Among the banks the purchases are back up Unicredit +0,69%, while Ps, well bought yesterday, today it loses 4,65%.
In energy it is appreciated Erg, +0,54%, supported by the confirmation of the "buy" recommendation by analysts Intesa Sanpaolo (-0,58%), which raised the target price on the share to 37,1 euro. “We believe that the next industrial plan, expected in the first quarter of 2023, can act as an additional catalyst,” they say.
Among the few big caps on the rise there are also Prysmian +0,42% and Azimuth + 0,3%.
They confirm themselves negative Amplifon -2,95% and nexi -3,09%, after yesterday's losses.
Lose altitude Iveco -2,91%.
Profit taking sends you into the red Saipem, -2,68%, which has gained more than 50% in the last three months.
Stable spread, declining yields
The session is positive for government bonds. The spread between 10-year BTPs and Bunds with the same duration, it is 186 basis points (-0,5%) and returns they fell respectively to +3,65% and +1,79%.
