“We want to act to induce a wider range of medium-sized companies to access regulated markets”. The Minister of Economy Giancarlo Giorgetti thus announces the imminent launch of a package of measures to streamline negotiations and reduce the burdens on the companies listed on the Stock Exchange. Almost a real-time response to ai suggestions by Gianni Tamburi. Or, more simply, to remove an anomaly: the Milan Stock Exchange, just a whisker from 28 points, is leading the race in price lists (+17,9% since January) but in 2022 it recorded only 4 new quotes and well 13 delistings for a capitalization of only 600 billion, equal to 37% of GDP.
Meanwhile, 132.334 savers have responded to the Treasury's appeal by subscribing BTP Italy for 3,637 billion on the first day of the offer of issue number 19. The decennial trades at 4,56%. Note that it BTP/Bund spread (182) remains well below the 200 level and far from the pre-election September peak of 250.
Soon it prevails cautious optimism on the markets. Even Michael Wilson, Morgan Stanley's most bearish manager, expects increases in the coming days. But much will depend on what the president of Fed he will tell Congress today. The audition will begin at 16 pm, Italian time.
ECB: the fight between hawks and doves is heating up
Le Exchanges of Europe they opened around parity, with the index future Euro Stoxx 50 marks an increase of 0,1%.
Among the bankers of the ECB, he writes Bloomberg, is in progress a real battle” pending the meeting on March 16th. The Portuguese Centeno takes sides against the prospect of new increases after the one already foreseen. Chief economist Philip Lane says it's all about the data from now on. The "hawk" Holtzman, the Austrian central banker, hopes for at least four hikes between now and the summer. Tomorrow there will be a repeat of Fabio Panetta and a message from Christine Lagarde. Thursday comes the ban on making statements.
New layoffs in Meta, Goldman rediscovers Apple
Yesterday on Wall Street, the Nasdaq had come to gain more than 1% on the wave of the revision of the opinion of Goldman Sachs on Apple, but at the end of the session the change was slightly negative, -0,2%. The other indices are flat.
Meta will announce a few thousand layoffs this week. The agency reports it Bloomberg citing some sources, according to which Mark Zuckerberg's new cuts are motivated by financial targets.
Moving on to the stars and stripes bond, the Treasury Notes ten-year term trades at 3,95% yield. The thirty-year is at 7,4%, the highest for twenty years.
Australia raises rates, Japan picks up speed
Australia has raised rates. From what Governor Philip Lowe writes in the press release, it is reasonable to think that this increase of 25 basis points, may be among the last. The Australian dollar weakens.
China's stock markets fall: Hang Seng by Hong Kong -0,8%. CSI 300 of the Shanghai and Shenzen lists -0,9%, after an upward start. In an interview with the financial newspaper Shanghai Securities News, the general manager of the Shanghai Stock Exchange, Cai Jianchun, said that listed companies should be able to make better use of the financial instruments they have access to. The public release could herald an iintervention by the supervisory authorities.
Tonight, on the sidelines of the work of the Chinese parliament, the new foreign minister, Qin Gang, reiterated that the question of Taiwan “is the focus of China's central interests, the political bedrock in China-US relations and the first red line that must not be crossed." In his first briefing with the press, the head of foreign policy took up his predecessor's speech, both in terms of tone and content: "We will continue to work for the peaceful reunificationbut we reserve the right to take all necessary measures."
La Japan Stock Exchange is starting to close higher for the third consecutive session, Nikkei +0,3%. The broader Topix index hit its highest level since late 2021 as declining long-term US Treasury yields boosted investor sentiment.
Oil takes courage, gold rises
Brent at $86,50 Wti at $80,8. Petroleum up 0,4%. Six consecutive increases have not been seen since May 2022. We are looking with growing attention at the dynamics of the Chinese economy, which appear to be progressively improving.
Il European natural gas it lost -6,3% closing at 42,1 euro/mWh, the lowest price since January 2022. Since the beginning of the year, both have lost around -44%. This morning the price travels around 43 euros per mwh on the Amsterdam market.
Gold at $1.847 an ounce. The price consolidates last week's brilliant +2,5%. It is probable that new directionality will be visible after Powell's words: a hawkish approach will bring the price down again.
The Eurovita case is being examined today by Ania
stm announced that from Monday 13 March, before the markets open, the trading symbols of its ordinary shares listed on Euronext will change. For the price list of the former Italian Stock Exchange (MTA) in Milan, the symbol will become ”STMMI.
Today the board ofAnia, the Confindustria of companies, will discuss the grain Eurolife. The Cinven fund would be willing to inject one hundred million euros into the capital.
