Le European stock exchanges celebrate a series of better-than-expected quarterly results and close today's session with an increase, also looking at the US macro data (GDP, inflation, unemployment claims) which give hope for a soft landing of the stars and stripes economy, despite the tightening of the Fed.
The closure of the European stock exchanges
Business Square it is the best, +1,32%, and well exceeds the psychological threshold of 26 points, stopping at 26.217 basis points. The Ftse Mib of Milan, like the Cac40 of Paris (+0,77%), is led by stm (+8,2%) after the 2022 accounts and 2023 forecasts. Also Sabadell Bank (+11,23) celebrates the quarterly, giving support to the Ibex 35 of Madrid (+0,84%). The same is for Nokia (+3,81%), which dominates the main index of Helsinki (+0,78%). These companies, which beat expectations, suggest that inflation is having little impact on corporate earnings and raise hopes for a less severe economic slowdown.
In the rest of the continent they are more cautious Frankfurt + 0,36% London + 0,22% Amsterdam + 0,79%.
Euros, gas and oil
It weakens theeuro, which retreats from 1,09 and changes around 1,086 against the dollar.
Among the raw materials we appreciate the Petroleum, encouraged by North American data. Brent rose by 1,25% to 87,2 dollars a barrel; Wti +1,26%, $81,16. Prices go down instead gas, 55,255 per Mwh.
US GDP above expectations: Wall Street opposed, Tesla flies
Today's macroeconomic data from the United States contributed to injecting some optimism into the markets, which favored the harmonious start of Wall Street, which at the moment, however, moves in opposition.
The rally of Tesla (+9%) which doubled its profits in 2022, argues the Nasdaq, But the Dow Jones is held back among others by IBM -5,45%, which announced the cut of 3900 jobs.
On the macro front the GDP for the fourth quarter of 2022 it slowed down, but less than estimated: +2,9%, against expectations of +2,8% (+3,2% in the third quarter). Consumers were the driving force, even as the US central bank's notable interest rate hikes weighed on demand towards the end of the year. Many economists still expect a recession, but a milder one than previously assumed.
Another eagerly awaited figure that did not disappoint is that onpce inflation, which is the personal consumption expenditure price index, which is the Fed's favorite. This slowed to 3,2% in the last quarter of the year, compared to 4,3% in the previous three months. The 'core' figure, the one without energy and food product prices, increased by 3,9%, in line with expectations, after 4,7% in the third quarter.
Good news from the world of work, as the demands of unemployment benefits they dropped to 186 thousand against forecasts for 205 thousand in the last week.
Piazza Affari in progress with Stm and banks
To give strength to Piazza Affari, together with Stm, are the banks, which are approaching the moment in which they will present their quarterly reports with a positive attitude, given the Spanish accounts and the assessments of analysts, who estimate benefits from rate hikes on the margins of interest, despite inflation and the risk associated with the economic slowdown.
Among the biggest gains of the day are, Unicredit + 2,78% Finecobank + 2,51% Intesa Sanpaolo + 2,07% Bpm bank + 2,09% Bper + 2,09%.
Well the industry with the rebound of Interpump +1,89% and Leonardo, which also today appreciates by 1,29%. Deutsche Bank has revised upwards the target price on the share of the public defense company to 12,5 from 11 euros, which has also announced a collaboration with Safran Helicopter Engines to further enhance the capabilities and competitiveness of the next generation single-engine helicopter AW09. You also shop on the automotive with Pirelli +1,6% and Iveco + 1,39%.
It is at the bottom of the list campari, -2,81%, which according to some observers pays the price for the disappointment of the market for the accounts of Diageo, the global colossus of alcoholic beverages.
Energy stocks are down with Erg -1,48% and utilities with Terna -0,81% Italgas -1,17% Ivy -0,51%. Letter for Inwit -1,09% and Recordati -1,1%.
Out of the main list Tod’s it rallied 4,88% on better-than-expected fourth-quarter sales data.
The spread was slightly moved, but rates rose slightly
Sales, on the other hand, prevail over government bonds, with the XNUMX-year BTP rate which rises to 4,03%, against +2,17% of the Bund of the same duration, by one spread stable at 185 basis points (+0,72%).
