The stock markets of the Old Continent, after a tepidly positive opening, are mostly turning downwards, including Milan. The temporary suspension of shipping through the Red Sea announced by some oil and shipping companies has fueled concerns about potential supply disruptions.
Among raw materials, while the price of natural gas European rises by 3,76% to 33,79, that of Brent it appreciated by 1,14% to 80,13 dollars a barrel, returning above the psychological threshold of 80 dollars a barrel.
According to some reports, a price rebound could be short-term, as long as production is not affected. The risk of an escalation of tensions remains in the background Middle East. Meanwhile, news is spreading of close talks mediated by Qatar and Egypt for a possible second truce in Gaza, according to which Hamas would return some hostages in exchange for the release of Palestinian prisoners by Israel.
BTP yield falls below 3,70%, the Bund below 2%. Spread at 160 bps
Halfway through the session Dax loses 0,82%, the CAC40 returns to positive territory at 0,018%. The FTSE Mib recorded a decline of 0,35% to 30.256 points, after having fluctuated between a minimum of 30.204 points and a maximum of 30.461 points. The FTSE Italia All Share is down 0,34%. Also below parity are the FTSE Italia Mid Cap (-0,27%) and the FTSE Italia Star (-0,11%). The bitcoin it came close to 43.000 dollars (just over 39.000 euros).
In sharp decline i returns of government bonds: that of Btp 10 years drops to 3,617% and that of bund 10 years at 1,98%, the first time in a year that it has gone below 2%. The BTP-Bund spread stands at just over 160 points. The euro remains above 1,095 dollars.
Eyes on the Tim galaxy. Upward suspension
On the shields there Tim galaxy, with increases of around 5% and suspension for excesses, on the rumors that the F2i Board of Directors is ready to meet today to give the OK to the establishment of the vehicle which will invest around 1 billion euros in the Telecom Italia fixed network, within the of the operation that will bring the asset under the control of Kkr. Chance also makes telecommunications effervescent Telefonica: the Spanish government enters with 10% to rebalance Saudi Arabia's presence in the capital of the telephone group. The TLCs are restarted also following the proposal presented by Iliad for a joint venture with Vodafone Italia . Well too Eni (+1,69%) on the rise in oil prices due to tensions in the Red Sea and Saipem up by 0,42%.
stellantis it is at -0,1%, still feeling the effects of yesterday's sharp drop. Today Acea's data on registrations in Europe show a drop of 2,8% in November. According to Acea, Stellantis sales are decreasing in November 2023, recording a drop in registrations of 7,3% with 139.073 cars sold; as a result, Stellantis' market share in Europe stood at 15,7%. Among the banks, Bpm bank reduces the initial drop a little to -1,83%. Down too Bper down by 0,15%, also victims of year-end gains, with performances of +41% and +57% respectively in 2023.
It is worth taking a look at Germany, where the intention among companies to raise prices again is growing, which suggests that the decline in inflation in Europe's largest economy may be stalling (in November, German inflation fell by 0,4, 0% on a monthly basis compared to +3,2% in the previous month; on an annual basis, the price change was +3,8% after +XNUMX% in the previous month). According to lIfo economic institute, price expectations rose to 19,7 points in December from 18,1 points the previous month. The index reached a temporary low in August, at 14,5 points. In particular, restaurants expect prices to increase to 87,6 points compared to 45,9 points in November. According to Ifo, the VAT increase is likely to be passed on to customers.
