Olympic rise this morning for the Chinese lists, which have reopened their doors after the New Year's holiday. The CSI 300 index of the Shanghai and Shenzen lists marks a rise of 1,5%, from +2,5% at the start of the session. Meanwhile, Hong Kong, which was up sharply on Friday (+3,2%), is down slightly. Thus, with a note of optimism that for now dispels the winds of war in Ukraine, another week dominated by unknown inflation opens. The most awaited appointment is scheduled for Thursday, when the US data will be published, expected to grow to +7,3% due to the pressures of the energy component, but also due to the further acceleration in the prices of used cars, as well as rents and wages. It could be an opportunity to offer new indications on the next rate hikes.
Wall Street futures are flat this morning. The 1,90-year Treasury Note trades at a 0,2% yield. The euro is down 1,143%, to XNUMX euros, on a particular day
Maastricht turns 30. Knot calls for hikes for the EU
Never an anniversary was more appropriate. Today marks the thirtieth birthday of the Maastricht agreement, a milestone on the road to the European Union thanks to the agreement between the 12 members who would later give birth to the euro. The appointment comes at a time of particular tension for the financial markets. In Europe, after the directorate of the ECB, the demands of the hawks took off: Klaas Knot, the Dutch central banker, asked over the weekend for an initial rate increase of a quarter of a point within the year. The president of the European Central Bank, Christine Lagarde, will have to provide an answer today on the occasion of her meeting with the European Parliament.
The spread between the yields of BTPs and Bunds returned above 150 basis points, with the rate of Italian bonds shooting up to a maximum of 1,720%, before falling back to just below 1,6%, as it happened from May 2020.
The chip plan is underway: Brussels is chasing Asia
To follow today the data on German industrial production. Tomorrow the European Commission will present the Chips Act, the almost 50 billion plan to strengthen the production of semiconductors in the Old Continent, reaching a 2030% share of the world total by 20.
Also tomorrow, the data on retail trade in December 2021 in Italy will be published. Industrial production data will be released on Wednesday. Thursday it's up to data on economic forecasts from the European Union and US inflation. Friday is the turn of Britain's industrial production.
Oil with little movement: the risk of default on Wall Street rises
Slightly moved oil. The OPEC+ monthly report is released on Thursday: the document indicates the extent of the increase in production in January by the members of the cartel.
In the USA, as mentioned, consumer prices due on Thursday the 19th: experts forecast a 7,3% increase. The prospect of the rise in the cost of money is at the origin of the sharp change in the stock market, fresh from a new week of declines under pressure from Meta (formerly Facebook) and other Nasdaq stocks.
Another impact on the bond market should be noted: credit default swaps, derivative insurance products against the risk of insolvency, jumped from 123 to 197 billion dollars.
Rain of data on Italy: the Pnrr accelerates
In Italy, on the other hand, an important indicator will be, in addition to the December retail trade published by Istat on Tuesday, the trend of industrial production also in December, a figure expected for Wednesday 9 February. On the same day, Istat publishes the note on the performance of the Italian economy in January. A cycle of hearings in the Chamber on the National Recovery and Resilience Plan is also scheduled for the week.
Mps: showdown for Bastianini, Lovaglio arrives
A new chapter in the Mps saga is staged in Piazza Affari. The agenda of the del Monte board includes not only the approval of the 2021 results, but the wait is concentrated on decisions regarding governance, marked by Guido Bastianini's resistance to the Treasury. The manager does not intend to resign. For this reason Olga Cuccurullo resigned last Friday, on the board on behalf of the MEF to make room for Luigi Lovaglio, former Unicredit and Credito Valtellinese, who will take on the role of CEO.
Mediobanca half-yearly report: financial statements of Cnh and Iveco
The boards of directors of Cnh Industrial and Iveco Group for the 2021 financial statements are scheduled for tomorrow. Wednesday is the turn of the Mediobanca half-yearly report and the preliminary balance sheet of Banca Ifis. Banca Generali will also communicate the preliminary balance sheet on Thursday.
Duel in Unilever: the hour of triumph for Pfizer
Among the balance sheets of the week, the appointment with the shareholders of Unilever stands out: the consumer giant offered 50 billion pounds in vain to buy Gfk's consumer products. In return, activist shareholder Nelson Peltz entered the capital to challenge the board.
Great expectations for the accounts of Pfizer, the vaccine giant which is closing a triumphal year. Also to be followed are the two giants of US consumption: Coca Cola and Starbucks.
Honda opens up to electric. Toyota aims for 9 million pieces
No less important are the accounts of Toyota: will the Japanese giant manage to pass the milestone of 9 million pieces despite the chip crisis? Meanwhile, Honda has started the conversion of all production to electricity: the historic plant of the company is paying the price, closing its doors after sixty years of activity.
