Owners of shares have lost, on average, a fifth of what they had at the beginning of 2022. But in this sad end to the darkest year since 2008, other numbers are worrying traders: a fifth of the Chinese population, according to Bloomberg , it might turn out positive for Covid after the end of movement restrictions and the reopening of borders.
The Covid emergency thus returns to the fore in the finance operations rooms, which are half-empty waiting for the New Year. The surge in infections is at the origin of the slowdown in the index Msci Asia-Pacific -1,06%, which is about to close the third consecutive week of losses.
In red all the markets of the region. Chinese stocks are down 0,4%, Hong Kong drops by 1%. The Nikkei Japan falls by 1,06%, on the low for almost three months. It's even worse Sidney -1,18%.
Several countries including Italy, the United States and Japan have made Covid tests mandatory for travelers from China. Of the 120 passengers traveling on the Beijing-Malpensa flight that landed at the Milan airport at 18.55 on December 26, 62 tested positive for the Covid swab, more than one in two.
A note from Nomura this morning underlines the risks of the Chinese syndrome "China could find itself in a difficult situation due to its postponement in embracing a coexistence approach with Covid" analysts write, referring to the accumulated delay in therapies. Now "infections could spread from urban to rural areas, during the nationwide travel rush for the Lunar New Year which falls on January 22".
In Milan -0,4%, management slows down, today the Maneuver
Given this promise, it is not surprising that European markets are cautious. Exchange futures are all in the red. Eurostoxx 50 -0,3% Dax German -0,3%, 100 FTSE-0,4%.
Milano yesterday it closed down -0,4%. -13% since the beginning of the year, the worst year since 2018 would end at these levels. Assogestioni, better than 2020 (7,8 billion) but significantly slower than 2021, the record year (93 billion).
Last jokes for the Maneuver. The final vote on the measure is scheduled for 12. Yesterday the Minister for European Affairs Raffaele Fitto announced the achievement of all 55 Pnrr objectives foreseen for the second semester.
Wall Street suffers. Work alarm in the tech
But Italian stock exchange, like the other European markets, did better than the US markets.
The index S & P 500, yesterday -1,20% loses 20% since the beginning of the year, the Dow Jones -1,12%. The Nasdaq -1,35% to 10.213,288 points has reached its lowest point since November 2021, the start date of the "bear market": since January, the technological price list has lost 69%.
Breath of fresh air yesterday for Tesla +3,3% after a long streak of declines. But the Chinese woman continues to suffer Nio -2,6% which scored the fourth session down in the wake of the profit warning. Lucid +3% rebounded after twelve consecutive declines that pushed the price to an all-time low. Rivian Automotiveunchanged, cantor fitzgerald put her among the favorite techs of 2023.
Apple Lossless Audio CODEC (ALAC), -3% closed on new lows since June 2021. A-1,5% The New York Times reported that employees are increasingly concerned about the arrival of a plan to cut staff. Meanwhile, the protest for having a union in Amazon is rekindled.
0,25% rate hike expected in February
The bond market in the Eurozone remains tense. German Bund at 2,50%. 4,61-year BTP at XNUMX%.
Il Treasury Notes at ten years it rose to 3,86%, on the maximum for five weeks. Markets are now pricing in a 69% chance of a 25 basis point rate hike at the February Federal Reserve meeting and estimate US rates will peak at 4,94% in the first half of next year.
Gas at 81,30 euros. Finland opens its LNG terminal
brake the Petroleum -0,5%: The increase in Covid cases in China has raised questions about a rapid recovery in fuel demand by the world's second largest oil consumer.
The future on gas US natural rebounds 1%, after falling yesterday to its lowest since March. Also in Europe the price rebounds to 81,30 euros per mWh, in any case slightly above the lows since February. Finland's first floating liquefied natural gas (LNG) terminal has been located 60 kilometers west of Helsinki. Its capacity is intended to cover the gas needs of Finland and Estonia.
Tinexta goes shopping at Euronext Growth
Little to report Business Square.
Tinexta signed a binding agreement for the acquisition of 20% of Defense Tech Holding for 25 million euros. Closing is expected in the first half of 2023.
