I European lists close weak e Wall Street moves down on the day of the US jobs report which shows that US companies hired much more than expected in November and increased wages by more than estimates. This worries about the effects on inflation and because it could complicate the work of the Federal Reserve, geared to slow the pace of monetary tightening, as announced a few days ago by Jerome Powell.
The release of the labor report, held in high esteem by the US central bank, initially triggered a wave of selling, which partially subsided during subsequent exchanges.
The strength of the stars and stripes economy has also pushed up the dollar, but even that is gradually dulling its performance. L'euro trades over 1,05, the highest since June.
Weak day in Europe
Another positive week ends in Europe, the seventh in a row, even if the day's balance shows Business Square retreat 0,26% to 24.621 basis points along with Madrid -0,3% Paris E-0,17 Amsterdam -0,1. AND London, while Frankfurt it appreciates by 0,27%.
The sales hit the energy and finance sectors the hardest. In particular, oil stocks are looking nervously at the EU's potential price ceiling Russian oil delivered by sea. The deal still needs to be formally approved before the sanctions take place block on crude oil of Moscow enter into force on 5 December.
Furthermore, on Sunday there will be a meeting of the cartel and allies.
While waiting for these news, the future of Brent e wtf they remain on the window and move close to yesterday's prices.
T-Bond, yields rise after the job report
After the job report, the T-Bond market is in the red, with falling prices and rising yields. The 3,605-year Treasury is trading at 2,21%, up XNUMX% since yesterday's close.
In November, the US economy created 263 jobs, against expectations of 200. Unemployment remained unchanged at 3,7%. Hourly wages grew 0,6% month-on-month and 5,1% year-over-year, while the market expected the increase to stop at 0,3% and 4,6% respectively.
Growing spreads
In Europe, today's climate favored purchases of German securities and slightly penalized Italian paper, which closed the session down.
Lo spread between 10-year BTPs and Bunds of equal duration back to 191 basis points (+7,28%) with yields respectively of +3,76% (from 3,7% yesterday) and +1,85% (from 1,93 %).
Piazza Affari, Dea Capital is also preparing to say goodbye
In Business Square the best performance of the day is among the minor stocks and concerns Dea Capital, which closes with a theoretical increase of 28,85%, at 1,474 euro per share. It was to give wings to the title the totalitarian takeover bid launched by De Agostini at 1,5 euros per share, with the aim of delisting. This is the umpteenth exit from the Milan stock exchange in a year of important farewells.
On the Ftse Mib, defensive stocks and asset management stand out above all. Leading the index is Amplifon +3,22%, followed by General Bank +2,38% and Campari +1,99%. The latter announced yesterday the acquisition of the share capital still not held in Tannico. An operation that is conducted with Moët Henessy and which is judged positively by Bestinver, as it helps Campari to grow the e-commerce channel and improve its ability to reach new consumers.
Among utilities, A2a +1,63% and Hera +0,75% did well.
Leonardo conquers a place in the top ten for the day with an increase of 0,75%. The company, as FIRSTonline writes, has signed an alliance with the British BAE Systems and the Japanese giant Mitsubishi, the subject of a lengthy analysis by the Financial Times. The agreement should culminate within the year in a multibillion-dollar agreement for the construction by 2035 of a fighter plane which, according to the British newspaper, "will seem to have come out of the imagination of a Hollywood screenwriter".
The black jersey among the blue chips goes to Moncler, -3,23%, after a few days on the shields following the Chinese openings on a relaxation of the anti-Covid restrictive measures.
In red Telecom, -2,06%, which ends a week swinging between rumors and uncertainties about the future.
Lose altitude stellantis -2,05%, after the data on registrations which, in Italy, rose by 1,4% annually in November, in a market which however grew much more, +14,7%. Bestinver maintains the Buy on the stock, but observes that "Stellantis is continuing to lose market share in Italy and France, which together represent about 17% of volumes and 16% of total revenues". There are major chip supply problems and for this reason the group is prioritizing more profitable markets such as North America.
Among the energetic they fade Erg -2,03% Tenaris -1,61% ed Eni -1,4%.
The banks closed a session with little movement and no precise direction. Unicredit loses 0,11%, after signing a union agreement on generational turnover and having established an economic award for a total of 2400 euros for all employees in Italy thanks to the early definition of the collective productivity bonus (1600 euros) and the extraordinary contribution to combat high energy costs by benefiting from the legislative changes introduced by the Government with the Aid Quater Decree (800 euros in welfare account).
