Piazza Affari retreats but does not collapse as it grapples with the first shock wave of the decline, caused by the confirmation of the Fed minutes which show that the anti-inflation tightening practiced by the US central bank will kick in sooner than expected, perhaps as early as March. After an initial, abrupt opening reaction, the Milanese price list limited the damages around a percentage point awaiting the next data: German inflation, out in the early afternoon, and the opening of Wall Street where, judging by the trend of futures, there is an air of recovery. The future of the S&P500 index, which fell almost 1% tonight, is at parity. Dow Jones futures gain 0,2%.
The new requests for unemployment benefits are arriving: an important fact because the Fed is increasingly convinced that there is no longer a need to dedicate resources and aid to employment. Indeed, the consensus expects a stable figure, below 200.000 units, more or less the levels prior to the pandemic.
However, the Italian markets take note of the upward thrust of the cost of moneyto the benefit of the banking sector. excel Intesa Sanpaolo, leading credit title, ahead of bpm as the race rages on to make sure Banca Carige: after the offer from Banca Bper came that of Crédit Agricole, determined to expand its presence in the peninsula. And so the Carige stock, snubbed upon its return to the list, rips by 3,40%.
Slows Stellantis -0,42% after the leap forward for the Amazon deal. But the attention to the world on four wheels, supported by flurry of news twigs CES in Las Vegas (GM have announced a self-driving car by the middle of the decade), one of the most interesting arguments remains: flat Pirelli, the baton of the rise passes into the hands of Brembo +2,21%. Even in Frankfurt the car holds: Daimler +1,5%,
Down Stm together with the German Infineon and Sap in line with the slowdown in the technology sector that began yesterday on Wall Street while the growth of infections is reflected in the fashion brake: Moncler – 3,3%, Kering -2,5% as well as Essilor Luxottica.
Everlasting the bond market is under tension: Btp at 1,29%, the highest since June 2020. The spread widens, to 134 basis points. Yield of the Bund at the lows of the last two and a half years, at -0,06%.
Down the trapped oil by the increase in US inventories. Eni -0.7%. But the Kazakhstan crisis threatens to inflame energy prices again.
