Even in the East the Bags have decided to dig in while waiting for the new year which, after the disappointments of the Asian markets in 2023, will hopefully bring good moves. This is not the atmosphere that prevails for now Shanghai ed Hong Kong. Indeed, the prospect of new taxes on winnings has provoked Prevention widespread among gaming giants without, however, significantly influencing the performance of the session, the Hang Seng index in Hong Kong lost 0,1% and the CSI 300 of the Shanghai and Shenzhen lists gained 0,9%. Tokyo's Nikkei index lost 1,7%, Seoul's Kospi lost 0,8%.
While waiting for the Christmas break and the data on American inflation, in the last session of the week, the European stock exchanges show a weak performance, despite the enthusiasm of Wall Street, which rebounded in the previous session.
FedEx goes down, games betray Tencent
The attention of the markets, already distracted by the upcoming holidays, was attracted yesterday by accounts di FedEx, one of the companies that mark the course of Wall Street Yesterday closed with a fall of -12%, after negative results in the second quarter of its financial year with results below expectations and cut its sales forecasts. In the press release the company speaks of weak demand. For fiscal 2024, FedEx expects revenue contraction in the low single-digit range, whereas previously it expected flat sales. Not just on Wall Street. The yield on the 3,58-year BTP fell to 3,62% from XNUMX%, the lowest in one year.
BTP below the 3% threshold, spread at 160
The yield on the 2-year BTP, 2,98%, fell below the psychological threshold of 3% for the first time since March.
The credibility of the "Italian system" also increases: lo spread it closed at 160 basis points, the lowest level since August, in October it was at 205 basis points. For now, at least apparently, the uncertainties that have emerged on the ESM front are not significant. The future on the 2023-year BTP could achieve its fourth positive week in a row and its performance from the beginning of 10, currently +XNUMX%, could be the best in the last four years.
Several Fed officials have also warned against betting on early cuts of rates, given that US inflation is still well above the Fed's annual target of +2%. In the United States the economic cycle is slowing down, but it is not a sudden stop, the third quarter GDP was reduced to 4,9 .5,2% from 2022%, but these are figures far from those that economists anticipated at the end of XNUMX.
Nike slows down, PCE inflation today
I macroeconomic data today, in particular the PCE Core, should confirm this picture.
Overnight, futures turned lower due to signals on consumption trends. arrived from the clothing giant Nike. The company cut its growth estimates and the stock lost 7%.
The Vice President of the European Central Bank, Luis de Guindos, in an interview published on the central bank's website, said it was too early to talk about an interest rate cut. “When we see that inflation is clearly converging in a stable manner towards our +2% target, monetary policy could begin to ease. But it is still too early for that to happen,” de Guindos told Spanish newspaper 20 Minutos.
Euro, gold and Bitcoin at highs
But there is no financial caution at the end of the year. Yesterday's stop on the markets is short-lived.
Also 'euro it reached the period highs of 1,10 on dollar, yesterday +0,6%.
THEgold deals at 2.043, the Petroleum WTI just above 74 dollars a barrel, +0,7%. Brent at 80 dollars.
Finally, he runs the Bitcoin up to 44.450 dollars, +0,4%.
The De Longhi coffee hub is born. Ferragni loses Safilo
The storm around does not abate Chiara Ferragni. Safilo has terminated the licensing agreement for the design, production and distribution of the Chiara Ferragni brand eyewear collections following violation of contractual commitments undertaken by the brand owner. A note from the eyewear production and distribution group says this without providing further details.
De Longhi Eversys e La Marzocco, a leading company in the production and distribution of coffee machines, have signed the agreements for a business combination operation which will lead to the creation of a new company controlled entirely by De Longhi spa. The operation, we read in a note, plans to create a professional coffee hub with an aggregate turnover on a pro forma basis expected in 2023 of approximately 372 million and an adjusted Ebitda of 87 million (before synergies). De Longhi's board of directors attributed an overall value to the enterprise value of the operation of 1,402 billion dollars, determined on the basis of the enterprise value attributed to the La Marzocco group (907,7 million) and the Eversys group (494,6 .61,4 million). Both companies will remain independent and directly led by the current management, in order to guarantee managerial continuity. The transaction can be classified as a "transaction between related parties of greater importance", due to the fact that De Longhi spa and La Marzocco are subject to the common control of De Longhi Industrial. On the basis of the agreements signed, the De Longhi group will control approximately 26,6% of the new hub, while minority shares will be held by De Longhi Industrial (approximately 12%) and by the current minority shareholders of La Marzocco (overall approximately XNUMX%).
