At the airports of Beijing and Shanghai Chinese families hug each other after 1.060 of forced distance. It is the dress rehearsal of Chinese New Year (January 22) when tens of millions of people will move en masse to the countryside to reunite with their loved ones. A return to normal full of risk. But that, for now, Taurus likes.
• The futures ofEuroStoxx50 index opens the week in rise +0,6% in line with the progress of the beginning of the year.
Analysts: Europe is better
• The year opens with a investor preference for Europe. Friday Citi raised recommendation on Europe equities to Overweight, US equities moved to Underweigh instead: lo strategist Robert Buckland wrote in the note that the securities of the companies Old Continent already incorporate a 15% drop of earnings per share for 2023.
• Even the bag of United States it should open slightly higher. Friday the Nasdaq gained 2,3%. The S&P500 index futures it is in rise by 0,3%. The Nobel Prize winner Paul Krugman on Friday he described Friday's jobs data as follows: "Holds jobs, slows wage growth: too good to believe."
Jack Ma leaves Ant Group. Korean chips run
• They go up especially i Chinese price lists: Hong Kong +1,5%, CIS 300 +0,7%. Takes flight Alibaba +7% to 1,09 HK dollars, a price not seen since July. Goldman Sachs has added the stock to its favorites list. The turning point after that Jack Ma has relinquished control of AntGroup (controlled by Alibaba to 33%). The Fintech company does not expect a forthcoming listing on the stock exchange.
• In Pacific Asia The Kospi of Seoul is gaining momentum, +2,5%. Samsung Electronics, the largest weighting giant on South Korea's benchmark index, climbed nearly 3%.
• Nikkei of Tokyo +0,6%. Mumbai BSE Sensex +1,2%:
Tomorrow Powell speaks in Stockholm, Thursday US prices
• Once again he will be at the center of market attention inflation. The most important macroeconomic figure for the financial markets comes out on Thursday afternoon, that on the trend in US prices. The consensus anticipates a continuation of the trend of slowdown of the last few months. The ECB's monthly bulletin will be published on the same day.
• Two major central bankers will perform in Stockholm on Tuesday: Jerome Powell and the number one of the Bank of Japan, the governor Kuroda.
• November data released today unemployment in the European Union, the industrial production in Germany and the employed and unemployed in Italy, while Wednesday is the turn of retail trade in Italy in November. There will be Friday German GDP of 2022.
Goldman Sachs ready to cut employment
Much more the corporate scene is lively. The parade of the year-end accounts of companies Use, the most awaited appointment to assess the costs of the economic slowdown on profits of businesses. The forecast is -5%. We start with the big banks: Citigroup, Bank of America, JPMorgan Chase, Wells Fargo, Bank of New York Mellon, BlackRock.
Goldman Sachs should start lay off thousands of employees as of Wednesday, inside sources told Reuters.
- The 3,55-year Treasury Notes traded at 3,75% this morning, up from XNUMX% on Friday.
- Euro up 0,3% to 1,067, roughly on May levels.
- WTI oil up 1,3% to $74,8 a barrel. Brent at $79,37. 2023 got off to a bad start, but China's return to the energy markets could change the trend of these days.
- Gold +0,6% to 1.877 dollars an ounce.
The sales of Cucinelli, the rating of Generali and Stellantis down
Sales figures out today dthe Brunello Cucinellis.
Generali. Morgan Stanley cuts judgment to Underweight.
stellantis. Citi lowers the target price to 21 euros. Deutsche Bank has also revised its target downwards.
Ferrari. Citi raises the rating to Neutral.
Eni. Goldman Sachs raises the target price to 19 euros.
Tim. The Macquarie infrastructure fund, which is a shareholder of Cassa depositi e prestiti in Open Fiber, is in favor of the government's plan for the creation of a national telecommunications network and is working on the project with interested parties. This was stated on Saturday in an interview with Milano Finanza by Gianluca Ricci, head of Macquarie Asset Management Italy.
Maire Tecnimont yesterday announced the official start of a $1,3 billion contract to build a petrochemical plant for QatarEnergy and Chevron Phillips Chemical.
Saes Getters signed a binding agreement for the sale of the Nitinol business and, in particular, of the US subsidiaries Memry Corporation and Saes Smart Materials to the US company Resonetics for a price of 900 million dollars
