Purchases on Telecom (+3%) and pharma stocks allow Milano to close today's volatile session up 0,11% (to 24.303 basis points), in a weak European context moderately influenced by the rebound on Wall Street.
I'm down a bit Frankfurt (-0,44%), Amsterdam (-0,48%), Paris -0,41% Madrid -0,32% and London -0,4%. In the city, however, the title of the London Stock Exchange Group (+3,29%), after the announcement that Microsoft (+2%) will acquire a share of 4% of the capital under a ten-year strategic partnership.
Overseas the US stock exchange it is moving in fractional progress, after closing last Friday the worst week since September.
THEeuro dollar is in favor of the single currency with the exchange rate in the 1,054 area.
To give a signal of redemption is the Petroleum: Wti appreciates on the Nyse by 3,9% to 73,79 dollars a barrel, while Brent shows a gain of 2,86% to 78,28 dollars a barrel. However, crude oil is back from a week to forget, the worst for a year now, during which it lost about 11% due to fears about global demand.
Volatile day for the gas, which fluctuated between about 130 and 138 euros per Mwh, while the Commission president and IEA director met in Brussels in the morning, since next year 30 billion cubic meters of methane could be missing in Europe. “It is time to accelerate common gas purchases,” commented Ursula Von der Leyen. However, nothing is discounted yet on the price cap.
Yellen: Much lower inflation in 2023
The bowls are practically at a standstill on the big world finance table at the start of a key week for inflation and central bank decisions.
Wednesday will be pronounced the ECB and Thursday the Fed, with expectations of increases of 50 basis points by both institutions, but one can never tell, because everything costs more and more both in the US and in Europe.
Tomorrow, among other things, the highly anticipated November trend of consumer prices in the United States will be disclosed, after producer prices seen last Friday slowed but less than expected, creating some discontent.
However, the Treasury secretary and former Fed chairman helps to lend a hand to the mood of investors Janet Yellen, according to which the cyclopean inflation of recent months, at least in the US, has its days numbered: "I believe that by the end of next year we will see much lower inflation if there is not an unexpected shock", he told CBS . And also: “there is a risk of a recession” but “it is certainly not something necessary to bring down inflation”.
It should be emphasized that in the next few days there will also be meetings of the central bank of Japan and the British central bank.
Good news on growth has come from London: the British economy it rebounded 0,5% in October compared to September, after a particularly sharp decline in the previous month due to a public holiday for the funeral of Elizabeth II.
Healthy Business Square
The stocks of the health of Piazza Affari bounce, in particular Recordati (+ 2,57%) and Diasorin (+ 2,6%).
However, the pink jersey of the day goes to telecom, which always moves to the rhythm of the incessant rumors about the future of the network, in view of Thursday's board meeting from which news could emerge.
Among the banks it bounces Unicredit +1,37%, title penalized last week.
Bene nexi +1,19%, after Morgan Stanley raised the target price on the stock to 10,25 euros from the previous 10 euros
Some industrial, utility and oil stocks lose share: Cnh -1,76%; Pirelli -2,1% Ivy -1,84% Tenaris -0,97%. In red Unipol -1,14%
stm it dropped 1,11% on the ex-date of the interim dividend of $0,06 per share. Bad too Azimuth -1,04%, despite the good performance of net inflows in November.
Out of the main basket Tod’s limits the damages to 1,68%, after a debut in deep red following the news that the Della Valle family has renounced the plan to incorporate into DeVa and therefore the delisting of the stock. According to Equita, the speculative appeal due to the price linked to the right of withdrawal, which the broker estimated at around 36 euros, has thus disappeared.
Spreads and rates not moved
Nothing striking even on the secondary. The spread remains at 188 basis points and the Italian 3,81-year bond sees a very slight rise in yield to 1,93% against XNUMX% for the Bund with the same duration.
