2021 was a year to frame for the markets and it is confirmed as such also in the final stages.
The European stock markets close today's session with small increases, but in the high range, while Wall Street, positive at the start, improves its intraday records with Dow Jones and S&P 500. The season is traditionally favorable for the American stock market, which boasts a prevalence of plus signs in the last five sessions of the year and in the first two of the new year, it is the so-called Santa Claus rally which for now is not disappointing expectations.
A part of the lists closes its doors today as Milano, +0,01% together with Frankfurt +0,34% and Madrid + 0,48%. Paris +0,16% and London -0,19% instead they will also be open tomorrow for half of the session. The same will happen in New York.
PIAZZA AFFARI SAYS GOODBYE TO 2021 WITHOUT FIREWORKS, BUT WITH A 23% ANNUAL INCREASE
No fireworks today in Piazza Affari to say goodbye to 2021, a fantastic year in which the Milanese price list gained around 23% and won the bronze medal behind Amsterdam (+27%) and Paris (+24%). The final figure is yesterday's: 27.346 basis points, not far from the annual high reached on November 15th.
The blue chip with the biggest rise of the day is Diasorin, +1,48%, supported by the growing need for tampons with the cyclopean numbers of the Omicron variant in circulation.
I'm in progress Inwit +0,65%; Ferrari +0,75%; Mediobanca +0,65%; Exor +0,64%; Enel +0,51%; Bpm bank + 0,61%.
The biggest drops of the day are by Moncler -0,87%; Atlantia -0,82%; Tenaris -0,82%; Cnh -0,58%.
A snapshot that does not reflect the annual trend. The ranking of the best blue chips of the year is in fact led by Unicredit (+77,09%), followed by Cnh (+65,33%), Interpump (+59,77%), Banco Bpm (+46,02% ), Stm (+43,24%), Eni (+42,96%).
The lowest performances in 2021 are instead of Saipem (-16,33%), Enel (-14,86%), Nexi (-14,38%), Diasorin (-1,56%).
The overall capitalization of companies listed on the Piazza Affari stands at 757 billion, with an increase of 24,7% compared to 607 billion last year. The weight of stock listings on gross domestic product also rose, equal to 43,1% from 37% in 2020.
THE SPREAD REMAINS RELATIVELY HIGH WHILE THE CHAMBER APPROVES THE MANEUVER
The session is moderately negative for the Italian secondary school: lo spread it rose to 136 basis points (+1,16%) and the 10-year BTP rate closed at +1,16% (-0,2% for the Bund).
The yield differential between Italian and German ten-year yields reached a minimum of 2021 basis points in 86,82. The change of course of central banks, the announcement of the end of pandemic purchases by the ECB and the uncertain fate of Prime Minister Mario Draghi have recently contributed to putting Italian paper under pressure.
In the meantime, Montecitorio has given green light to the law 2022 budget of 32 billion which seeks to reduce taxes and fix the deficit/GDP at 5,6%, almost halving it from 9,4% in 2021, thanks to an estimated rebound in economic growth. GDP growth is forecast at 4,7% next year, down from the official 6,0% target for 2021. GDP growth is expected to return to pre-Covid levels next year, after record contraction of 8,9% recorded in 2020 due to the long lockdowns. Public debt, the highest in the eurozone after Greece's, is seen falling to 149,4% of GDP next year from 153,5% in 2021.
However, the pandemic could once again get in the way of this path, due to the high contagiousness of Omicron variant. Just to keep the economic repercussions of the infection at bay, the quarantine was eliminated yesterday following close contact with a positive for those who have done three doses or two doses for less than four months.
The super green pass, which is obtained with the vaccine or recovery, has been extended in fact to all activities, except for workers and university students who will still be able to use the swab. From January 10, however, if you want to use public transport or even just eat outdoors, the swab is no longer enough, you need either the vaccine or recovery.
ENCOURAGING DATA ON UNEMPLOYMENT IN THE USA
Wall Street is proceeding in tune thanks to the macroeconomic data, on the basis of which it can reasonably be argued that Omicron is not affecting the robust American recovery.
The new weekly requests of the unemployment benefits they dropped by 8.000 units to 198.000, versus expectations at 205.000. The 4-week average is 199.250, down 7.250 from the previous week's average and is the lowest since October 25, 1969. The total number of workers receiving unemployment benefits fell by 140.000 to 1,716 million of units, the lowest figure since March 7, 2020.
In addition, the Chicago PMI, which measures the performance of corporate and manufacturing activity in the area, exceeded estimates in December, rising to 63,1 points, against expectations for 62. A reading below 50 points indicates a phase of slowdown, conversely a figure above 50 points indicates an improvement in economic conditions.
The financials, materials and energy sectors, which are benefiting from an ebullient economic environment are driving nine of the 11 major S&P 500 sector indices.
LITTLE MOSSI GOLD, OIL AND EURO/DOLLAR
The session proceeds without major jolts for the Petroleum.
Brent and Wti futures are flat, while the future gold it moves up by 0,4% to 1813,65 dollars an ounce.
It is slightly movedeuro-dollar, with the exchange rate around 1,132.
