I US markets do not adapt to the optimism of the beginning of the year, but the caution of Wall Street, grappling with the unbridled fall of Tesla -14%, does not infect the other squares: Europe applauds the decline in German inflation and gas quotes. The China, while furious at the travel measures that the EU is about to adopt, continues its policy of reopening the business.
Rising opening for Europe
• The stock exchanges of Europe they should open in rise, index futures EuroStoxx50 mark +0,2%.
• In Germany inflation fell more than expected in December, the slowdown in the price run is largely justified by the drop in gas and oil prices.
• The milan stock exchange, who started 2023 with the best first session of the year since 2013, gave an encore: . FtseMib +1,15%.
• Worry spread between the ten-year Italian and German one it starts again from 209 basis points and the rates decrease respectively +4,46% (from 4,55% yesterday) and +2,37% (from 2,45%). The "provocation" of the Financial Times (9 out of 10 economists blame for possible strong sales on BTPs at the next tightening of the ECB) has not, for now, had any effects. But between now and the Frankfurt meeting at the beginning of February, the confrontation between hawks and doves will be heated.
New splash of Musk-14%, Apple loses a billion in a year
- The fall of the gods conditioned the debut of 2023 on Wall Street. The market has once again punished without discounts Elon Musk. Tesla, which has a number two since yesterday Chinese, Tom Zhu, lost 14% after failing its 2022 growth targets, despite the record 1,31 million vehicles delivered (+40% compared to 2021).
- No less strong, at least on a psychological level, is the impact of the decline of Apple Lossless Audio CODEC (ALAC),. The quotation of the 3% Apple has dropped below two trillion dollars, one thousand less than the value of a year ago. assessment achieved in August 2020. The main reasons can be found in the delivery difficulties of the iPhone14 Pro during the holidays, due to the anti-Covid restrictions at the production site in China, and the risk that inflation will discourage new purchases.
Amazon obtains funding for 8 billion and cuts jobs
Also Amazon gears up for a difficult start to the year: the company of Jeff Bezos closed an agreement with various lenders for 8 billion credits to be used to support the business. At the same time, i layoffs: at least 10 cuts for the company which, in any case, has cash on hand of 35 billion dollars (compared to 59 in medium-long term debt).
Futures signal a slight upside opening on Wall Street after a down session: Nasdaq -0,8%, S&P500 -0,4%.
-Euro/dollar at 1,057). The strengthening of the US currency was driven by some macro data which confirm the solidity of the US economy. The index Manufacturing PMI S&P Global's December index came in at 46,2, equal to forecasts and the previous figure. Construction spending rose in November, +0,2% month on month.
The market looks forward to ai next macro data (employment and labor costs, first of all) in addition to the minutes of the Fed to be released in a few hours. The fear is that too positive numbers, especially on wage trends, could cause new heavy losses in price lists.
Beijing opens to the listing of Ant Group
• The more interesting news come from China. The Hong Kong bag is accelerating in the final session, the Hang Seng index rises by more than +2% and revises the July levels. The CSI 300 of the Shanghai and Shenzen price lists is almost flat, the Taiex of Taipei is around parity. Kospi of Seoul +1,1%. Mumbai BSE Sensex -0,4%. Tokyo Nikkei -1%.
• The real estate company, also as a result of Bloomberg's indiscretions concerning the arrival of credit and liquidity from the banks: the latter would have received pressure to alleviate the financial problems still afflicting the brick and mortar sector.
• Even more important is the openness towards the new economy, after two years of punishment by Xi, he pitted "social cohesion" against the "American-style" growth model represented by Jack Ma. Alibaba, Ma's creature (still in virtual exile) gains 7% on the news of the go-ahead from the financial market supervisory authorities for the listing of one of the divisions of AntGroup. In a note dated December 30, China's Banking and Insurance Regulatory Commission turns on the green light at allAbout 10,5 billion yuan ($1,5 billion) IPO of the consumer credit business the company controlled by NA and Alibaba. The collection of resources will lead to the capital, with a 10% stake, a subject controlled by the municipality of Hangzhou. The stock market landing of Ant Group was stopped three years ago by the Beijing supervisory authorities, the company had to stop expansion projects and is still awaiting the banking license.
Hold back Brazil, gold shines
• The decline in Brazilian stock exchange, one of the few active in 2022. São Paulo closed down -2%, from -3% on Monday, the day the new president Lula da Silva was sworn in.
• Continue the gold march. The yellow metal rose by 0,4%, fourth in a row, favored by the easing of tensions on interest rates. Yesterday's rebound in the dollar, which usually plays against precious metals, didn't have much impact this time.
Gas drops below 70 euros
• The Natural gas on the European circuit it closed at 72,30 euros per mWh, about a fifth of the August price. This morning in the first trades the price dropped below 70 euros.
• Snam lets know that in the Stogit storage there are 9,3 billion cubic meters of gas. Based on the preliminary data for the month of last December, gas consumption in the fourth quarter of 2022 amounted to approximately 16,9 billion cubic metres, with a saving of 5,6 billion cubic meters compared to 22,5 billion in corresponding quarter 2021.
• Bitcoin +1,1 to $16.850. Sam Bankman Fried he pleaded "not guilty" to all eight counts in a federal judge in Manhattan. Prosecutors accused him of embezzling customer deposits worth $8 billion, using their funds to pay the expenses and debts of FTX subsidiary Alameda Research, and of lying about FTX's financial health. The former enfant prodige had declared that he had no intention of committing fraud, although he acknowledged that he had made mistakes in managing the company.
The tender for Edison is underway. Two-way pact for Inwit
- A2A, Fondo F2i and Eni are the subjects interested in the activities of Edison that the French parent company should put for sale in mid-2023. All Edison could be worth around seven billion euros, the bulk is in thermoelectric production.
- Enel it broke through the 200-day moving average handle, providing a push signal, BUY.
- Inwit. Iliad and Windtre completed the closing for the company Zefiro Net, the joint venture whose capital is held 50% by the two operators, with the aim of sharing e manage jointly the respective mobile phone networks in the less densely populated areas in Italy.
- Bpm bank. The outgoing president, Massimo Tononi, should lead the list of candidates for the expiring board of directors.
- WeBuild. IlSole24Ore reports that in December there was an acceleration in the publication and awarding of calls for tenders by Anas and Fry. In 2023 they should leave construction sites for 30 billion euros.
