China reopens borders, risk appetite rises. And the dollar is holding back against both Asian currencies and the euro. Also Wall Street, to complete the positive picture, seems to be heading towards a Taurus opening. Nasdaq and S&P500 futures climb 0,5%.
Stock exchanges latest news: European stock exchanges are positive, futures are also up on Wall Street
In Europe, the Paris stock exchange shines, supported by the luxury: Lvmh, Hermès and Kering gain between 1,8-2% on the news of the imminent reopening of borders.
In Piazza Affari, up by half a percentage point, he leads the race Moncler + 2,41%. Ferragamo + 1,4%.
Energies are also highlighted under the pressure of the Petroleum, in view of the severe cold in the USA: at the top of the main index are Saipem, Eni and Tenaris with increases of between 1 and 2%. The Natural gas on the European circuit, it opened at 80 euros per Mwh, the lowest level since February: temperatures should remain above average until early January. Meanwhile, the Turkish president, Recep Tayyip Erdogan, has announced that his country has discovered a natural gas reserve of 58 billion cubic meters in the Black Sea, an amount that adds to the discoveries of recent months in the area.
Stock exchanges latest news: bonds in tension
More the bond market is under tension. German Bund up 2,49% from 2,40% on Friday. 4,60-year BTP to 4,47% from 211%. Soread A 1,7 points. Last week ended with a drop of 1,8% for the former and XNUMX% for the latter.
La ECB has just passed “half” of its cycle monetary tightening and will continue to hike over the next few months before eventually peaking for the summer. This was stated by Klaas Knot, hawk of the ECB council, in an interview with the Financial Times. “The risk of doing too little is still the biggest risk. We are at the beginning of the second phase” of hikes, Knot highlighted, noting how the ECB's biggest challenge next year will come when the squeeze has risen enough to be able to stop.
Same picture across the ocean. The Treasury Notes in ten years it starts again from 3,74%. Friday completed the worst week since September (-1,5%). Citi analysts signaled that the Fed's official interest rate could reach 5,25% to 5,50% by the end of 2023, based on expectations that the labor market will continue to add new jobs in the first months of the 2023.
Juventus flies to Piazza Affari: there is anticipation for the takeover bid
In Piazza Affari the advance of the title does not stop Juventus + 3,24% to 0,3205 euro on the day of the shareholders' meeting and presentation of the new board of directors. In the last month, the stock has risen by 15%: the market is betting on Exor's takeover bid which will hardly take place before the new top team takes office. This morning, however, attention was focused on Andrea Agnelli, the outgoing president who can boast 29 titles (men's and women's cups and league titles) in his nine years of management: "I made the decision - he said referring to his resignation - of all convinced and in complete serenity". Personally I believe that we have done well and that the findings are not justified, in this also supported by the in-depth analysis made by independent experts ”, he underlined. "I decided to take a step back", he concluded, "so that one could not think that the choices could be even partially conditioned by my personal involvement".
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The automotive sector is also on the rise: the European Stoxx index rises by 1% thanks to good indications from Toyota and expectations of a progressive reopening of circulation in China; Volkswagen +0,8%, Ferrari +0,6%.
Leonardo +0,70%. The US Department of Defense has exercised its option to produce and deliver the fourth batch of 26 TH-73A helicopters, valued at $110,5 million.
Telecom Italy +0,70%. A new meeting between the government, CDP and Vivendi on the restructuring is scheduled for Thursday, probably via video conference, with the participation of advisors Rothschild and Credit Suisse as well.
