It will be a difficult year for everyone, he warns Kristalina Georgevaa, director general of the Monetary Fund: half of the EU will go into recession, the US will do better. The China? The first data confirm the pessimism of the Fund. China's manufacturing PMI recorded its third consecutive decline in December, falling to 47 from 48, the sharpest decline since February 2020. In his year-end speech, President Xi Jinping admitted that the pandemic has not yet been eradicated .
Given the premises, the caution that dominates in view of the reopening of the financial markets, in any case orphaned by US price lists and by China itself, is not surprising.
Future dishes in Piazza Affari, the Eurostoxx goes up
The first session of 2023 should open in Piazza Affari around parity, the future of the EuroStoxx50 index marks an increase of 0,2%. The future of the Frankfurt Dax, on the other hand, is slightly down.
Bonds start up again after the worst year due to the explosion of inflation and the drastic countermeasures taken by central banks. The ten-year Treasury future lost -19,20%, German Bund -22%, Btp -25%.
Korea opens the year in red. Salt Mumbai
- Few Asian squares are open. Japan, Australia, Singapore, Hong Kong and Thailand are missing. South Korea's stocks lost 0,3%, from an almost 1% rise at the start of the session. South Korea's exports are down 9,5% in 2022, Seoul authorities have announced a series of restrictions on entry from China, Mumbai is up 0,3%.
- On the currency markets, the euro trades at 1,070: yesterday Croatia became the XNUMXth country in the eurozone.
- The yen appreciates to 130,9. The cross is at its lowest since this summer, down 0,2%, from -1,3% last week.
Oil: a golden year for Aramco and ExxonMobil
- The commodity futures markets are closed. Brent finished 2022 up 10,0% in dollars after growing 50% in 2021, while West Texas Intermediate (WTI) was up 6% after growing 55% in 2021.
- Yesterday Saudi giant Aramco started the year on the Riyadh Stock Exchange up 0,9%. Exxon Mobil +78,5% back over $100 was one of the few winning stocks on the US stock market.
Inflation: Lane's (ECB) reaction ahead
This week, in the Eurozone, the focus will be on December inflation: the data is on the agenda on Friday morning. On the same day the chief economist of the ECB, Philip Lane, will design new scenarios in light of the new information acquired by the ECB. Still in the same vein, operators are awaiting with interest next week a series of data on theinflation in Europe: on Thursday 5, Istat will release the preliminary data on consumer prices for December in Italy. In the coming days, Germany and France will also publish the data.
From the USA: minute Fed, data on employment and CES
On Wednesday 4 January, with the publication of the minutes of the last meeting of the US central bank in December, new indications on the future orientation of interest rates may arrive. But the most important US data released on Friday concerns employment, the most relevant in view of Fed decisions. The minutes of the last meeting in December will be published on Wednesday in which 17 of the 19 participants predicted a terminal rate of over 5%. Finally, the ISM manufacturing (Wednesday) and services (Friday) should also be mentioned, both expected to decline according to the consensus collected by Bloomberg.
On the corporate front, the spotlight is already focused on the data for the last quarter: JP Morgan's accounts will be released next week.
Held during the week All of this, the Las Vegas review of technology. 2.800 companies participate (480 Chinese), against 4.400 a year ago, confirming the bitter balance of the sector in 2022.
Snam-Eni: the gas pipeline with Algeria is underway. Anima renews the Board of Directors
Soul Holding communicated over the weekend that the partnership with the Crédit Agricole Italia (CAI) Group continues, in continuity with the previous agreement with Credito Valtellinese (Creval). In fact, the revision became appropriate following the merger by incorporation of Creval into CAI. The agreement maintains its original duration until 2027.
Snam and Eni. The conditions for realizing the partnership on the Algeria-Italy gas pipelines have been fulfilled; the closing is expected by mid-January.
Mooney, the payment company headed by the Intesa Sanpaolo groups and Enel, will start with its electronic toll service within the first half of 2023.
Gefran. The subsidiary Gefran Siei Drives Technology has concluded an agreement with WEG Automation Equipment for the sale of the related Chinese business branch for 2,98 million euros, out of a total of the agreement for the sale of the Drives Business equal to 23 million EUR.
