In October 2007, when there was still no talk of a crisis, the Shanghai Stock Exchange index rose to a maximum of 5.885 points. It took 13 and a half years to archive that record. Indeed, the feat is not yet accomplished because the Csi 300 index, once it reached 5.931, took the downward path: -0,77%, in line with the other Asian markets and with the weak end of Wall Street . No drama. After the long Lunar New Year holiday, China is ready to rekindle the engines of growth: Beijing's industry will be among the great beneficiaries of the US household purchasing boom that will be triggered by the stimulus plan under discussion in Washington.
ASIA WEAK, CHIPS CRISIS MORE SERIOUS
In red the price lists of the Orient. Tokyo's Nikkei index lost 0,2%, Hong Kong's Hang Seng 0,9%, Seoul's Kospi 0,8%. On parity the BSE Sensex of Mumbai. The MSCI Asia Pacific index is down slightly from its long-term highs at the beginning of the week, as the chip crisis worsens, complicated by the great cold in Texas that forced the closure of factories around Austin.
ZUCKERBERG VS NEWSPAPERS, GOOGLE AGREE TO PAY
Sidney moved little (-0,05%) on the day war broke out between the Australian government and Facebook, which imposed the embargo of the social network in the country in response to the law which finally requires the giant to pay a fee in the face of newspaper news published by the social network (which thus feeds advertising).
In contrast, Rupert Murdoch's News Corp and Google have launched a multiyear partnership: The tech giant will pay the publisher to index news in the Google News Showroom section.
FED: INFATION DOESN'T SCARY US
The future of the Nasdaq, -0,5% yesterday, marks a new decline of 0,4%. The Dow Jones future was at parity, yesterday closing up 0,3% thanks to the contribution of consumer goods and oil companies.
No news from January 27 Federal Reserve Select Committee minutes. Inflation is not considered a serious threat for now, in line with the Treasury's orientation reaffirmed yesterday by President Joe Biden in a meeting with trade unions and businesses.
The Dow Jones (+0,3%) was supported by the recent purchases of Warren Buffett: Verizon +5,2%, Chevron +3%.
OIL OVER $65
Brent oil at $65 a barrel, up 1,3%. Texas Governor Gregg Abbott ordered a three-day freeze on gas exports tonight, a move that has done colossal damage to intermediaries.
The Bulgarian trust granted by the Senate to Mario Draghi supports the markets' attention for BTPs, the only government bonds able to challenge the inflation effect, which is starting to make itself known on the lists.
PRICES IN RECOVERY, VACCINES LATE: THE EUROPEAN BAGS HOLD BACK
The tensions on raw material prices have in fact produced a setback in the rise of European markets, ready to seize the return of inflation to trigger profit-taking. Milan, in particular, was the black jersey of the Old Continent. The Commission's difficulty in obtaining all the vaccines already agreed with the production companies still weighs on the EU markets. After the storm due to the delays in the vaccination plan, Ursula von der Leyen admits that "we must speed up vaccinations, the cases of Covid variants are increasing and new ones are emerging". The EU Commission, von der Leyen always says, will buy another 150 million doses of Moderna's vaccine for this year and has optioned 150 million for the next. Pfizer, on the other hand, has not yet delivered to the European Union about ten million doses of its vaccine scheduled for December, failing to supply the EU with a third of the expected doses. This is what Reuters writes quoting anonymous Brussels officials.
BUSINESS PLACE -1,12%, GUCCI SCARES PARIS
Piazza Affari lost 1,12% and stopped at 23.178 points. Limit the damage Paris (-0,36%), despite the collapse of Kering (-7,5%), held back by the sales crisis of the Gucci brand in the last quarter of 2020 (turnover dropped by 10,3%). In Milan Moncler leaves 2,28% on the ground.
Investors were consoled by the performance of Cnp Assurances: +3,5%, on the highest for twelve months. Investors appreciated the Board's proposal to pay a dividend of €1,57 per share, of which €0,77 as the regular coupon for 2020 and €0,80 as an extraordinary dividend for 2019, equal to a payout of 40% for the two years, after last year the shareholders were left empty-handed. The total return for shareholders amounts to 10,90% gross on the listing.
NIVEA AND BRITISH TOBACCO LOSE BLOWS
In the rest of Europe, Frankfurt marks a decline of 1,16%. Beiersdorf -6,8%: the Nivea producer expects a decline in profitability. Madrid -0,41%, Amsterdam -0,93%.
Outside the euro zone, London fell 0,55%, with data showing that UK inflation also rose a little more than expected in January. British American Tobacco -5,8%, although it reported better-than-expected annual profits.
BITCOIN OVER 900 BILLION DOLLARS
Bitcoin hit a new record high at $51.721 after crossing the $50.000 mark for the first time. The capitalization now exceeds 900 billion dollars.
MORGAN STANLEY: THE SPREAD WILL DROP TO 55 POINTS
The Italian bond closed the session characterized by the speech by Mario Draghi in the Senate. On Tuesday, the Treasury placed 14 billion euros in the new dual-tranche BTP, the first syndicated issue of the Draghi era, which collected orders for over 82 billion. The quota allocated to foreign investors, said the Treasury, was equal to 64,5% on the 10-year bond and 45,4% on the 30-year bond.
At the end, the 0,58-year rate fell to 0,59% from 0,56% at the start and 10% at the last close. The gap between the BTP and Bund rates on the 95-year segment stands at 93 basis points, compared to 91 at the start and 85 at the end of yesterday's session. The Draghi effect, according to Morgan Stanley, will help the spread narrow to 55 basis points by June and to XNUMX in the second half in a bull scenario.
1 BILLION BOND, NEXI GOES DOWN
The worst stock among the blue chips was Nexi (-4,37%), penalized by the placement of a one billion euro convertible bond maturing in 2028. The proceeds from the placement will be used to refinance part of the Nets debt, notes Equita , which confirmed the buy rating and the target price of 18 euros. The accumulated rating and the target price of 17,6 euros by Banca Akros are also unchanged.
Banks are still neglected: Unicredit -1,78% despite JP Morgan raising the target to 10 euros. Intesa Sanpaolo -0,7%. Positive Mediobanca (+0,45%), still rallying after the accounts.
ACCOUNTS OK AND DIVIDEND, BUT POSTAL PUSHBACK
Poste Italiane is down (-0,8%) despite the fourth quarter accounts above expectations, with operating profit growing by 19,6% and the proposed dividend of 0,486 euro per share.
Eni advances (+0,93%) but the oil services retreat: Saipem -2,7%, Tenaris -0,8%. Saras loses more than 4% after the double-digit leap on the eve.
WEAK JANUARY, STELLANTIS LOSES
Sales also on the auto sector. Stellantis -2,15% after the data on registrations in Europe in January, dropped by 27,4% against a decline in the market of 25,7%. By extension, bad Exor (-2,74%).
Losses also for Amplifon (-3,05%) and Unipol (-2,77%).
ALKEMY REDESIGNS THE COOP E-COMMERCE
Of note is Alkemy (+4,25%): the company has redesigned the e-commerce site of EasyCoop, the online shopping service of Coop Alleanza 3.0.
On Aim, Vetrya shines (+4,31%): the company announced that it has started the development of innovative services and platforms on ultra-broadband networks for the Italy Pavilion of the upcoming Expo Dubai 2020.
