The markets are confidently approaching Fed decisions which will be communicated tonight (20 Italian time) by Jerome Powell. The Bull, in fact, leaves behind a memorable january, the best of the last twenty years: Dow Jones and Eurostoxx up 10 percent, Piazza Affari as much as 12,20% (without taking into account the interim dividend of Enel and Snam) illuminated by the performance of Unicredit +35% in the month.
In view of the opening ok, the ECB towards the increase
• The streak should continue this morning. The stock exchanges of Europe should open in positive, the future of the index EuroStoxx50 reports +0,2%.
• It comforts the resilience of the European economy: second Eurostat the GDP of the Eurozone it increased by 0,1% in the last quarter of 2022, surprisingly contradicting the estimates of economists who had forecast a contraction of 0,1%: the euro area seems on track to avoid a recession.
• This prediction, however, will support the choice of ECB to raise rates by half a point and to confirm a rigid guidance, justified by yesterday's data on Spanish inflation.
At 11 Italian inflation, Btp files a golden month
• The Istat publishes at 11 the estimate of theJanuary inflation. Consensus expects a slowdown on an annual basis at the level of the EU harmonized index to 10,70% from 12,30% in December.
• The last sessions in January were conditioned by some legitimate profit-taking, which did not prevent us from completing a January of excellent results for government bonds. The 10-year German Bund gained 2,90%, the 4,80-year BTP by 2015%, the best result since July XNUMX.
• Before the choices of the monetary authorities, the EU will address the issue of industrial policy. The Commission will unveil today the proposal on the Business Plan for green deals, announced in Davos by President Ursula von der Leyen to outline the "strong response" that the EU wants to give to the US plan against inflation.
Wages are slowing down, Wall Street applauds
Also Wall Street awaits the Fed's next moves with confidence. Analysts are expecting a slight increase of 25 basis points. Labor market data confirmed yesterday that feared wage pressures are receding.
All positive indices: Dow Jones +1,09%, S&P 500 +1,46%, Nasdaq +1,67%. The results of Meta (formerly Facebook) will be released tonight. Tomorrow it will be the turn of Apple, Amazon and Alphabet.
After AMD rises, Snap collapses
Very good yesterday GM +8% after the bills. In the letter to the shareholders, the CEO Mary Barra anticipates a positive scenario, especially for the electric car. It also advances Exxon +2,5% on the wave of record profits ($59 billion) even if there were no buyback announcements.
In the aftermarket, Advanced Micro Devices gained about +2% after quarterly announcements. In sharp decline Snap after the accounts, the stock lost 14%.
India, Adani avoids crack. The Asian PMI indices are weak
Also slightly up asian bags. Hong Kong's Hang Seng closed up 0,2%. CSI 300 of the Shanghai and Shenzen price lists +0,1%. Tokyo's Nikkei -0,1%, Seoul's Kospi +0,4%.
It rose by 0,7% at the opening la India Stock Exchange: all the companies bounce back a bit Adani galaxy following the successful closing of the $2,5 billion capital raise by Adani Enterprises. During the day, the government presents the budget law.
They mark the pace main economies of the East: the manufacturing activity in Japan remained at December levels, the Caixin PMI on Chinese manufacture it improves slightly to 49,2 but remains below growth. The consensus was expecting 49,8. In South Korea, exports fell 16,6% last month, down from -9,6% in December.
Oil, stocks and production in Texas are up
Oil up on the day of opec meeting, Brent at $85,50. January closed with a loss of around 1,5%. Crude stocks, according to API advances, should have risen by 6 million barrels.
Bounce the gas. European Natural Gas yesterday closed up by +4% at 57 euros, -24% since the beginning of the year. US Natural Gas rebounds by +2%, down by about -39% since the beginning of the year. Texas produced 11,2 trillion cubic feet of natural gas in 2022, with growth expected to be even greater. Texas also supplied the country with 1,83 billion barrels of oil last year.
Rain of buys on Unicredit. Ovs gives up on Coin
The first upward revisions of the judgments are coming Unicredit: Deutsche Bank and Credit Suisse raised their target price.
MPS Bank he comes off the Consob black list which included the obligation to publish information on his financial situation every month.
Enel launched the plan to sell the assets in Peru. Blackrock held 5,022% as of January 25, according to the latest Consob updates.
stellantis it expects to have the technologies needed to develop hybrid ethanol vehicles in Brazil by the end of this year.
OVS extension. The acquisition of Coin was canceled because Ovs, with the support of Tamburi, prefers, in this market context, to continue its deleverage action in the interest of the shareholders. Revenues in the fourth quarter grew by 11%, Ebitda by more than 10%.
