A difficult year is coming to an end for the stock markets: under the pressure of oil and other raw materials, even Berkshire Hathaway, the company of the legendary Warren Buffet, has lost 11%, the likes of which hasn't happened since 2009.
Meanwhile, warlike signals are coming from Saudi Arabia: between cuts in welfare and higher taxes, the number one producer is preparing to cut the budget by 98 billion dollars, a clear signal that the strategy of the Kingdom is not changing.
Hence the gray forecasts for the start of 2016 which did not, however, prevent a year-end minirally. The Dow Jones is up 1,10%, S&P 500 +1,06%, Nasdaq +1,33%.
However, the recovery lost momentum this morning in Asia, still under the pressure of oil prices. The Asia Pacific index is starting to close 2015 with a drop of 12%. Better Tokyo +0,3%: the annual balance marks a gain of 9%.
The dollar strengthened to 1,091 against the euro, from 1,096 at the previous close. The end of the year marks the triumph of e-commerce.
AMAZON SUPERSTAR, WORTH OVER 300 BILLION
Amazon it advanced 1,5% to $686, its all-time high. The company has a capital of 322 billion dollars, it had arrived on the list in 1997 at a price of 18 dollars. The stock is supported today by very positive indications on the dynamics of consumption in the United States, the index on consumer expectations elaborated by the Conference Board, stands at 96,5 in December, against a consensus which expected 93,5 .
BUSINESS PLACE +15% FROM THE BEGINNING OF THE YEAR. NEW RECORD FOR THE CTZ
Among very thin volumes, just over one billion euros, Piazza Affari has consolidated its leadership among the stock exchanges of the most advanced countries. In Milan, the FtseMib index rose yesterday by 1,3%, to nearly 15% since the beginning of the year. the Paris Stock Exchange gains 1,8%, Frankfurt +1,9%, Madrid +1%.
On the bond market, the Treasury yesterday placed Ctz 1,5 billion in August 2017, with a historic low new yield of -0,109% from -0,095% at the end-November auction. Six-monthly bots were also offered and placed for 6 billion, with a yield that, while remaining negative, rises to -0,038%. The medium-long term auctions will be held today: the offer is between 4,5 and 6 billion euros in Ccteu and Btp at 5 and 10 years.
RENZI: ENI IS NOT FOR SALE, TERNA'S CONFERENCE TODAY
Forecasts of a cold snap in Europe and the United States fueled a small rebound in crude oil which in turn supports the recovery of energy stocks, which were heavily sold on the eve.
Eni rose by 1,2%. ?Speaking during the press conference at the end of the year, Matteo Renzi ruled out further steps backwards by the state in the ownership of strategic companies: "I don't think we could privatize companies excessively, I don't imagine we could go down to Eni, so to speak". Renzi himself stated that "oil at 35 dollars is a problem, it is for Eni and also for Italy".
Tenaris +0,7%. Saras also did well +3,7% and Prysmian also exhibited in this sector.??? Enel rose by 1% and among the other utilities A2A stands out with a rise of 1,8%. Yesterday after the markets were closed, the company announced that it had entered into the non-proportional partial demerger of Edipower, which will be effective from 1 January 2016 and following which it will hold 100% of the share capital of the former genco.
Terna +1,6%. Today the top management of the company will hold a conference call to explain the effects of the new tariff system, announced by the Authority for electricity, gas and the water system. Snam +2,1%.
THE BIG COLD PUSHES MONCLER
The luxury sector is in tune, as in the rest of Europe, led by YNAP up 3,15% and Moncler up 3,4%. The colder climate helps the duvet maker as well as the weakness of the euro. Luxottica +2,5%.
Positive Campari +2,93% to 8,09 euros). The group has signed an agreement to sell the non-strategic business headed by Casoni Fabbricazione Liquori, controlled by Fratelli Averna.
JOHN DEERE MAKES CARRARO FLY
Fiat Chrysler, in the last day before the spin off of Ferrari gains 0,7%, the parent company Exor rises by 2,7%.
Among industrial stocks, Finmeccanica advanced by 1%, Stm +1,9%.
Out of the basket of blue chips, the substantial rise of Carraro +24% stands out. The title is driven by the strategic alliance with the American Deere for the supply of axles. The agreement is worth 20 million euros and will allow the Veneto-based group, which specializes in axles and components for agricultural machinery, to triple its turnover from the US group, currently equal to 10 million euros, in two years. The company is about to close 2015 with a turnover of approximately 700 million euros, after having completed the agreement with the banks to restructure a debt of 260 million euros. “We expect to grow with a turnover of at least 100 million in the next three years”, says the president.
Still on the shields Pininfarina up by almost +10% to 3,78 euros, well above the price of the bid by the Indian Mahindra at 1,10 euros.
BANKS, ONLY BRAKE MPS
Among the banks, Intesa rose by 1,8%, Unicredit +1,5%. MontePaschi closed slightly down (-0,3%).? Insurance companies did well in the final stages of the year: Generali +1,6%, UnipolSai +0,5%.
