The year of records is not over yet. Wall Street yesterday celebrated the record number 69 of 2021, while the Eurostoxx index returned to its highest level since November and the Msci Global, driven by the performances of the American markets, is about to end the year with a double-digit increase (+17%) for the third year in a row. In short, at least for now, the price lists have decided to reward the desire for a recovery on the fear of Omicron, leveraging on the moods of American consumers (+8% Christmas spending) and on the instinctive desire to party, despite the prohibitions for New Year's. A signal: on the Christmas weekend, for the first time since 2019, the latest film in the Spider-Man series exceeded one billion in receipts. US optimism, for now, has been followed up on all markets. One exception is China, which has been hit by restrictions on technology stocks.
NIKKEI RUNS, JAPANESE GDP +7,2% IN NOVEMBER
Asia Pacific equities were mostly up in late session. Japan's Nikkei 225 is up 1,40%. Data released tonight indicates that industrial production rose 7,2% month-on-month in November, a better-than-expected 4,8%. The unemployment rate was 2,8% in November, against estimates of 2,7%. South Korea's Kospi gains 0,1%.
Hong Kong's Hang Seng Index is flat; yesterday it was closed for holidays. The indices of the Chinese Stock Exchange are little moved. The People's Bank of China reiterated that the yuan's exchange rate will be more flexible in 2022 and injected 200 billion yuan through seven-day reverse repos, the largest such intervention on a daily basis since late October.
EVERGRANDE BOUNCES (+7%), S&P 500 TOPS 69 TIMES
China Evergrande rebounds 7%. The Chinese real estate developer who has fallen into serious financial difficulties has announced that it has restarted its activity at full capacity. The president, Hui Ka Yan, said the company aims to deliver 115 projects in December for 39 real estate units.
The US Stock Exchanges are up: Dow Jones +0,98%, S&P 500 +1,38%, Nasdaq +1,39%. The S&P index gained 4,9% in four sessions.
TWO-YEAR T-BOND RISES, BRENT +0,5%
Tensed Treasury Bonds. The 0,758-year traded at XNUMX% this morning after a weak Treasury auction. Eurostoxx Index Futures are little moved this morning.
The WTI gains 0,5% from +3,3%. Even as airlines cancel flights and cruise lines suspend cruises, there is optimism that global demand will hold up.
Gold changes hands at 1.813 dollars an ounce: it is the fifth consecutive rise. Bitcoin is little moved at $49.190; yesterday lost 3,5%. European natural gas closed down 3% at 106,80 euros per megawatt-hour, after slipping as low as 90 euros. Last week's record peak was reached at 187 euros per megawatt/hour.
EVEN THE GERMAN TIGHTENING HEARTS THE MARKETS
The European stock exchanges closed at the highs of the session thanks to the push from Wall Street and the first results of the tightening against the pandemic in Germany. The weekly incidence in recent weeks has gone beyond the Reno from 340,7 per 100 inhabitants last month to 220,7 per 100 inhabitants a week ago. On December 2, Chancellor Angela Merkel, one step away from saying goodbye, decided to lock down the unvaccinated to counter the rise in infections.
European sentiment improved in the afternoon, on the back of the new all-time intraday high in the S&P index: reduced volumes combined with less tensions on the natural gas front favor the expected Santa Claus rally.
THE SPREAD TAKES OFF, THEN THE BTP RECOVERS
Signs of turmoil on the bond market, even if tensions subsided towards the end of the session. Even on a thin trading day, there is an air of tapering among traders. Italy, on the eve of the race for the Quirinale, is the ideal target for speculative raids.
At the end of the day, the yield on the ten-year BTP dropped to 1,11% after having risen to 1,16% at the opening, the highest since the beginning of November. The spread against the Bund, traded at -0,25%, fell to 136 basis points from 140, a peak not seen for a year.
WORLD GDP BEYOND 100 THOUSAND BILLION. CHINA FIRST IN 2030
The GDP of the world economy will exceed the threshold of 100.000 billion dollars for the first time in 2022, two years ahead of forecasts. The says it Center for Economics and Business Research, according to which China will wrest the title of first economy in the world from the United States in 2030, 24 months behind previous calculations.
The growth of the world economy is largely attributable to the stimulus given to deal with the pandemic. However, the recovery is accompanied by a jump in inflation which, if it proves persistent, could cause a recession in 2023 or 2024, warns the research institute.
INDIA SURPASSES FRANCE, INDONESIA IN TOP TEN
India will overtake France in 2022 and Germany in 2023 to become the world's third largest economy in 2031, a year behind previous estimates. However, Germany will take a small revenge, overtaking Japan in 2033. In 2036 the top ten economic powers should see the entry of Russia and that of Indonesia, in ninth place in 2034.
ITALY, FOR NOW, REMAINS IN EIGHTH PLACE
Italy will maintain its eighth place in the standings in 2022. “Former ECB president Mario Draghi has successfully led the country in recent months. But it is unclear how long this period of relative political stability will continue,” explained the Center for Economic and Business Research, citing the unknowns for the election of the President of the Republic. “In the next 15 years we expect Italy's position to worsen” in the World Economic League Table ranking: “It will drop from eighth place in 2021 to 13th in 2036”.
MILAN (+0,8%) STRENGTHENS BEYOND 27 THOUSAND
Milan was one of the best places yesterday and appreciated by 0,8%, consolidating gains beyond the psychological threshold of 27 points (27.231) conquered last Thursday (last session of Piazza Affari in the last eighth).
Banks, chips and pharma favor the positive closure of the lists: Frankfurt registers an increase of 0,52%, Paris +0,76%; Amsterdam +0,86%; Madrid +0,66%. The London Stock Exchange closed yesterday and today.
PHARMA GIVE ZURICH A CHARM
In Zurich (+0,67%) Roche (+0,94%) stands out after pharmaceutical regulator Swissmedic approved Ronapreve, an antibody treatment developed with Regeneron to treat Covid-19 patients. In addition, on Friday, the Food and Drug Administration granted emergency use authorization for Roche's Covid-19 home rapid test that can be used by people 14 years of age and older.
DIASORIN FIRST OF CLASS IN THE MARKET PLACE
Also in Piazza Affari the stocks of the health sector are highlighted. The best blue chip is Diasorin (+2,91%). Amplifon (+2,05%) and Recordati (+1,29%) are also in positive territory.
CNH GETTING SPEED UP, ALREADY RECORD DEBUT FOR IVECO
Also in great evidence yesterday was CNH Industrial (+2,47%) on the eve of the demerger of Iveco, listed on Piazza Affari from next January 3rd. But the capitalization of the share is close to 23 billion euros, in ninth place overall on the Italian list. The scope of the spun-off businesses includes Iveco commercial vehicles, buses, the stake in the American company Nikola, Astra vehicles for the mining sector, Iveco Defense and Magirus fire-fighting military vehicles, as well as the Fpt Powertrain business. Stellantis is also healthy, +1,15% at the close.
STM AND MONCLER RUN, LESS PAIN FOR POP. SONDRIO
Apple's advance favors the leap forward of Stm (+2,79%). Moncler also performed well among the blue chips (+1,78%). The banks were positive (Bper +1,65%). On the eve of the meeting for the transformation into a joint stock company, Pop Sondrio sold bad debts for 420,9 million euro.
Shy Enel, +0,17%, which together with Intesa (+0,51%) signed an agreement with Schumann Investments, (controlled by the international private equity fund CVC Capital Partners Fund VI) for the acquisition of 70% of Mooney, a fintech company that operates in proximity banking and payments services.
INWIT AND TIM BRAKING, PROMOTED IN THE CLOUD
The list of reductions among the blue chips is brief: Inwit -0,67%; generals -0,46%; Terna -0,45%; Italgas -0,42%; Prismian -0,12%. Telecom loses 0,37% on the day in which the Department for Digital Transformation received and examined three public-private partnership proposals for the creation of the national strategic pole of the cloud and chose the one carried out by Tim, Cdp, Leonardo (+1,4%) and Sogei.
VIETNAM CHOOSES DANIELI
Of note is Danieli, +2,46% in the wake of the news of a new order in Vietnam. Equita Sim confirmed the buy rating on the stock with a target price of 36 euros per share.
EGM: A CYBER DEAL FOR CY4GATE
On the EGM in light Cy4gate (+2,85%), which was awarded a 600.000 euro contract for the supply of its own Cyber Intelligence solution with an important Central American government customer.
