Positive start to the week for the European indices, despite the OECD warning that the global economic recovery is slowing down. Investors remained focused on home affairs, also given the absence of indications from Wall Street, which was closed for Martin Luther King Day.
GOOD BUSINESS PLACE, BUT TELECOM DISAPPOINTS
Affa Squareri ends with an increase of 0,53%, at 27.688 basis points. Among the best blue chips stand out Tenaris + 2,39% Moncler + 1,55% stm + 1,54% Cnh +1,49%. Find the plus sign Generali, +0,76%, before the showdown between the sides in the field for control of the company.
Bad instead Telecom, -3,12%, another stock in the spotlight after the Kkr fund's expression of interest. Tomorrow is an important day for both clubs. On the one hand, the Leone board meets, from which, after Caltagirone, Romolo Bardin, from the Del Vecchio stable, resigned. On the other hand, Tim's board of directors meets to listen to the new industrial plan of the general manager and CEO, Pietro Labriola which, barring twists and turns, should envisage the separation of the company into two parts. A project that could lengthen the time required for a response to the US fund and which makes the title less attractive.
Goes down Bper, -0,97%, more hot action for offer up Banca Carige (-1,53%).
Among the titles in red Atlantia, -0,92%, due to profit-taking after the recent gains and due to the evaluation of Mediobanca Securities analysts who lowered their recommendation on the stock to "neutral".
Among the utilities, tendentially negative, it appreciates Enel +0,82%. It's flat Terna (-0,12%), despite the 'Buy' with which Ubs started hedging the stock.
Out of the main basket it shines Fope, +2,84%, an Italian goldsmith company, active in high-end jewellery, which in 2021 brought consolidated net revenues to 40,3 million euros, with a leap of 55% on the previous year and 15,3 % compared to 2019, i.e. before the pandemic.
IN EUROPE FOCUS ON UNILEVER
In the rest of Europe it stands out London +0,91%, where GlaxoSmithKline gains more than 4%, after being targeted by Unilever (-6,7%), which instead ballast Amsterdam -0,28%. Unilever may be forced to increase its own £50bn offer to take over the company's health care business.
On the rise Zurich, +0,91%, despite the decline of Credit Suisse (-2,26%), after President Antonio Horta-Osorio resigned following an internal investigation into his personal conduct, including violations of anti-Covid regulations.
Bene Paris +0,82% with luxury back on its feet, starting with Hermes. Meanwhile Lacoste, Novak Djokovic's technical sponsor, is waiting to deal 'as soon as possible' with the world number 1 tennis player after the Australian affair.
Positive Frankfurt +0,34% and Madrid + 0,38%.
OECD: DECEMBER SUPERINDEX DOWN
In the macro sphere, it should be noted that, according to the OECD, the strong rebound in growth from the lows of the economic crisis caused by Covid-19 in the main economies is on the way to slowing down. This is what emerges from the super-index for the month of December, which is down compared to November. In particular, the loss of momentum would be visible in Canada, Germany, Italy and the United Kingdom. The pace of growth, on the other hand, looks stable in Japan and in the euro area as a whole, but even in these cases the growth peak has been passed. Finally, a stable growth rate is expected for France, as is the case for the USA, which are however below the long-term trend.
In chiaroscuro the news coming from China. The celestial empire's economy grew in 2021 to its highest in a decade (+8,1%), but there are signs that momentum is slowing due to weakening consumption and a real estate downturn, indicating the need for a greater political support which in fact came from the Central Bank. Fourth-quarter GDP rose by 4%, less than the 4,9% in November but more than expected. However, China's central bank felt it needed to step in and cut the funding costs of its medium-term loans for the first time since April 2020.
Finally in Italy theinflation in December it rose by 0,4% on the previous month, according to the final reading provided this morning by Istat, which confirms the preliminary data. On a trend basis, the final value for last month shows an increase of 3,9% and this also confirms the preliminary data.
EURO-DOLLAR NOT MOVED
On the currency market theeuro-dollar it has little movement and travels around 1,14. The greenback now seems to have priced in for a more rigid stance by the Fed, but according to expectations it does not appear that on the occasion of next week's meeting, on January 25-26, the US institute will proceed with an intervention on rates.
Among the raw materials the Petroleum it is moving slightly up, consolidating at its highest level for seven years, while some are already predicting a leap in black gold beyond one hundred dollars a barrel in 2022.
For now, Brent travels above 86 dollars and Wti exceeds 84 dollars.
SPREAD UP SLIGHTLY
Government bond rates continue to rise. The Italian 1,29-year bond grows by +0,06%, while the German one by -XNUMX%, with the spread slightly up to 136 basis points (+0,78%).
