Wall Street euphoric, Asia much less so. And in Europe, already grappling with the closure measures for Omicron, another crisis is looming. The Russian squeeze on natural gas exports resulted in a sharp rise in quotations, which shot up by 20 percent on the Rotterdam market. The US markets, where gas abounds, are instead concentrated on possible remedies for Covid -19: today pills from Merck and Pfizer could be authorized while rumors about new drugs arriving are multiplying, even on reliable sites.
APPLE AWARDS THE TRIPLE A
This too serves to feed the rain of pre-Christmas purchases, justified by the state of health of some Bigs: on Tuesday evening Moody' assigned triple A to Apple in view of "the extraordinary liquidity and robust sales figures". The Apple thus joins Microsoft and Johnson & Johnson.
ASIAN BAGS SLOW
- Much more cautious this morning's session of the Asian price lists. Tokyo's Nikkei index is just above parity, having opened up 0,6%. Hong Kong Hang Seng Index +0,3%. CSI 300 of the Shanghai and Shenzen price lists +0,1%. Kospi of Seoul +0,2%. BSE Sensex of Mumbai +0,4%.
- China's real estate sector turns lower after posting its best session in a month on Tuesday. The Warburg Pincus fund is betting on the Chinese brick and mortar, a big name in international finance. The investment company has raised 2,8 billion dollars to hunt for opportunities, especially in the office, logistics and IT park sectors.
- Tonight however, the Singapore government announced the freezing of the sale of airline tickets and bus tickets in the period from tomorrow to January 20th. The measure concerns people, vaccinated and not subjected to quarantine, arriving or departing for 24 destinations.
US FUTURES WEAK AFTER A LONG DAY
The futures of the American stock exchanges were weak this morning after a session marked by euphoria. Yesterday the S&P500 closed up 1,8%, the Nasdaq up 2,4%. Joe Biden spoke to the nation tonight, anticipating the provision of 500 million free rapid tests. What matters most in the president's speech is what was not said: no mention of the possibility of restrictions or bans.
The 1,46-year Treasury Note trades at a XNUMX% yield. Yesterday's bearish movement stopped in the evening, also following the outcome of the twenty billion dollar auction of twenty-year securities.
WTI oil is up 0,5% to $71,4, up from +3,7% yesterday.
THE GERMAN FIUCIA GOES DOWN, THE BAGS GO UP
The wind from Wall Street has favored the rise in the stock markets of the Old Continent despite the winds of war that continue to blow from Russia over the Ukrainian issue. Because of Omicron, Bloomberg is revising its global growth estimates for the fourth quarter: +0,7%, half of the previous quarter and below the 1% estimated before the new wave of infections. For the Eurozone, growth is now indicated at 0,8%, 0,3 points below the November estimates.
In this situation, the confidence of German consumers is also declining. The GfK index, based on a survey of around 2.000 people, fell to -6,8 points for January, from -1,8 points (revised) the previous month. January's reading is the lowest since June: expectations were for a drop of 2,5 points.
NEW TWISTS OF THE LIRA IN THE HANDS OF MAGO ERDOGAN
On the other hand, the Turkish lira rebounds, marking an increase of 40% (12,84 lire for one dollar) after reaching yet another historic low on Tuesday, the last step of a vertiginous descent following a lowering of the cost of money, according to the Erdogan's wishes, in a context of galloping inflation.
Yesterday evening, President Erdogan himself restored confidence in Ankara's currency, curbing the rush to change lira for foreign currencies. After declaring war on inflation, he announced the introduction of a compensation mechanism for holders of bank deposits. The government will effectively cover the devaluation losses incurred by lira deposits if these losses are higher than the interest rates paid by banks on deposits.
SPREAD WIDES, BTP OVER 1%
On the Italian secondary market, the rate of the ten-year BTP rises and the spread with the Bund of the same duration widens to 132 basis points (+2,57%).
The yield of the 1-year Italian bond exceeds 1,01%, to stop at 0,31% (against -XNUMX% of the German bond).
MILAN LEADS EUROPE, BNP SUPERSTAR IN PARIS
In Europe, the EuroStoxx 50 index +1,4%.
Milan's Ftse Mib +1,8%, Frankfurt's Dax +1,4%. Paris +1,38%, Amsterdam +1,56%, Madrid +1,72%, London +1,38%.
The heavily penalized sectors bounce back the most: Basic Materials, Tech, Energy.
BNP Paribas +2,5%, after Kepler's promotion to Buy. Ing advances +2,2% which closed the electronic bank in France. CRH, an Irish company active in the field of road infrastructure, gained 2,7% after the White House's attempt to get the 2000 trillion investment plan back on track.
The Bolloré group climbs 11,3% after receiving a 6 billion euro offer from MSC for African port assets.
CNH DRAGS INDUSTRIALS TO THE MARKET PLACE
Fly to Piazza Affari Cnh Industrial +4,7% supported by the promotion of analysts: Banca Akros raises the target price from 18,25 to 20,5 euros, confirming the buy rating.
Other industrialists are on the rise, especially those linked to the possible departure of the Biden plan in the USA: Stellantis +3,3%, Buzzi +3,1%, Leonardo and Prysmian +2,8%. ; Leonard +2,83%.
STM FLIES IN THE WAKE OF MICRON, THE OILS RUN
Stm appreciates by 1,18%, after the US company Micron Technology exceeded market expectations in the latest update on the group's revenue estimates.
The oil companies led by Saipem run +4,5%. Tenaris +3,3%, Eni +2,9%.
BPER INSISTS ON CARIGE, CALTAGIRONE ON GENERALI
Day of hikes for the banking sector (+2% for the Italian index) Last night after the stock markets were closed, Bper reiterated its interest in taking over Banca Carige: any intervention must be quantified once it has been established which is the least burden for the Fund between preventive recapitalization (requested by Bper) and liquidation. Based on the statutory provisions, the maximum commitment of the FITD, even recognizing the extraordinary nature of the Carige situation, could not exceed 600-700 million.
In contrast among the Generali financial stocks, -1,12%, even if Francesco Gaetano Caltagirone continues to buy shares of the Lion, accumulating a total share that now exceeds 8%.
LINDBERGH FLIES TO THE EGM
Juventus rebounds +6% after the closing of the capital operation.
Down Moncler and Campati.
Fly on the Egm Lindbergh +9,1%, on the second day of listing of the platform for logistics services.
