The economy remained weak in the first quarter of 2024 but is expected to strengthen in the coming months. Inflation is expected to remain stable before falling to 2% next year, despite the risk of a rise due to the war in…
For the new bond the minimum threshold is 10.000 euros. Until May 3 the bond is offered at 100 on the Mot. Tax is 26%
In the 2023 annual report, the ECB underlined the consolidation of progress against inflation, attributing it to a total increase in interest rates of 200 basis points, with clear effects also on BTP yields
European stock markets are now convinced that it will be the ECB that will inaugurate the season of cuts. In Milan the banks rebound, Amplifon and Saipem run
Sales on banks are pushing Piazza Affari downwards, which is currently the worst among the European stock exchanges. The spread goes back to 141
If inflation continues to approach the objective, "it will be appropriate to reduce the current level of monetary policy restriction", the Governing Council puts it in black and white. Lagarde: "We don't commit in advance, but we decide meeting after meeting"
Data on US inflation yesterday worried the markets, dispelling expectations of a cut by the Fed. Today European stock markets are expected to show little movement. Bankers could benefit from the situation
Investors' eyes are already focused on US inflation on Wednesday and the ECB meeting on Thursday. Milan among the best, oil falling, yield on the benchmark 10-year BTP rising
The fall in inflation in Europe raises hopes that the ECB will decide to cut rates, even if not before June. In Piazza Affari the banks shine but also Telecom Italia, Stellantis and Ferrari lose ground
By virtue of the latest inflation data, the ECB could start reducing rates in June, bonds are flying. Fineco runs in Milan, Stellantis goes down after registration data
Interview with Jakob de Haan, president of Suerf, one of the most important groups of central bankers, economists and financial managers – “It seems that the period of high inflation will soon be behind us” – “At the moment wage increases are the indicator…
As happened to many other central banks in the euro zone, in 2023 the Bank of Italy recorded a gross loss of 7 billion, but the risk fund absorbed the red and the year ended with a profit...
On the occasion of the celebration in Rome of the 150th anniversary of the birth of Luigi Einaudi, the Governor recalls how Einaudi managed to reduce inflation without stifling growth, but even leading to the Italian miracle. The debt issue in Italy
European stock markets are taking a breather and enjoying the first Friday of spring. Leonardo at the top of the Ftse Mib, Mps still down. The spread rises above 130 points, gold below the highs
Does the energy transition cost businesses too much? A study by the European Central Bank says that the effects will only be seen in the long term but the belief is growing that the EU president has gone too far
In the latest economic bulletin, the ECB's governing council sees a brighter picture and says it is "ready to adapt all instruments to reach the inflation target of 2%. However, the risks for economic growth remain oriented towards the downside"
For now, rates remain unchanged but the reduction is approaching. Will the Fed or the ECB cut first? Let's hope that the cuts do not come too late to avoid recessionary pressures
THE CANCELS OF THE ECONOMY OF MARCH 2024 – What are the reasons for the German economy's trouble? Italy records higher growth than the Eurozone, lower inflation, and sharply declining spreads: how can this be explained? The strong stability of the US economy will influence…
The rally of stock markets in Europe continues with Milan among the best together with Paris. Unicredit thinks about M&A. ECB reduces interest rate spread.
As expected, the ECB rate cut is not for today but it is approaching and the euro is strengthening while the spread is heading towards 130. Piazza Affari is less brilliant than Frankfurt and Paris but on the rise: the new course of…
The inflation estimate for 2024 goes from 2,7% to 2,3%. Lagarde on rate cuts: "We will know more in April and much more in June." Stock markets up, government bonds down
Market still rising while waiting for the ECB and the Powell hearings. Trump sends Bitcoin soaring. Spotlight on Diasorin in Piazza Affari
The president of the ECB spoke at the plenary session of the European Parliament where she spoke about inflation, rates, the stability pact and the resilience of the euro area
The loss would actually have been 7,8 billion, but 6,6 billion was covered with the risk fund, which was thus eliminated.
The monthly economic bulletin issued by the Frankfurt institute chaired by Lagarde. How much wars weigh on growth, the objective of a timely return of inflation to 2% and the alarm on vulnerable companies: "The highest number in Italy and Germany"
Stock markets at two speeds: the American ones are still rising, driven by the GDP, the European ones are weak after Lagarde's intervention according to which the rate cut still has to wait. Hera stands out in Milan
A message that ECB President Christine Lagarde has been repeating for months now like a mantra: "Restrictive rates, as long as necessary" and relaunches a possible cut for summer 2024
After the Central Bank's decision, European stock markets remain weak. But the markets look above all to the words of Christine Lagarde
European stock markets weak on the day of the ECB: the accounts of Tesla and STM weigh below expectations - On the contrary, the accounts of other tech giants are booming with Microsoft which exceeded 3 trillion...
Trump's clear victory in New Hampshire made a new market rally possible. Netflix bets on wrestling. Hong Kong runs. Stellantis suffers in Piazza Affari
According to the survey by the Ipso union, 53% of ECB staff think that Lagarde is not the right person to lead the Eurotower, while only 38% support the current monetary policy
Cyber threats represent a "systemic risk to the stability of the European financial system" but despite this the attacks go unreported. For Cipollone it is "necessary to continuously work together". The ECB's stress tests on the IT security of banks will soon be held...
The words of the ECB president on rates, which will only fall in the summer, are liked by the banks which are going up on the stock market but they are not enough to save the stock markets, including Milan which loses almost 1% and is struggling to defend the 30 thousand mark
Speaking to the ABI executive, the governor of the Bank of Italy admitted that "we are in a phase of cyclical slowdown". In 2023 growth at +0,6-0,7%. "Banks in a positive phase" but beware of the risks
The decreasing trend in prices should contribute to the increase in real incomes, while exports will align with the improvement in foreign demand. Geopolitical risk from war in Ukraine and the Middle East
Between 2010 and 2016 the median value of wealth fell to 150 thousand euros - Less well-off families rely only on the house, while for richer ones the portfolio is more diversified
The Fed is holding back the increases triggered by the expectation of an imminent rate cut. The US two-year bond slips to 3,9%. China bans iPhones for employees. Blackrock exits the Snam regasification terminal. Diasorin gives the numbers on Covid
The rate decisions of the ECB and the Fed give wings to European stock markets - Inflation in Italy falls in November but the debt hits a new record in October
Two-speed central banks - Sensational boom in Piazza Affari for Diasorin, which will present the new industrial plan tomorrow, and Telecom Italia after the rumors about Vivendi's moves - Banks in serious difficulty due to rating risk
Growth will remain limited in the short term, then will recover thanks to higher real incomes and improved external demand. The PEPP program will close by the end of 2024
All the market spotlights are on the central banks' next moves - Weak stock markets today: two-speed banks on Piazza Affari
Waiting for the central banks' pronouncement on rates but in Piazza Affari the acquittal of Alessandro Profumo and Viola sends MPS into orbit while the excellent collection rewards Fineco
Pause in the rally of the stock markets but the continuous decline in oil prices, beyond geopolitical reasons, can help the decline in inflation and the revision of monetary policy with beneficial effects on shares and bonds
If even Schnabel, the priestess of German austerity, becomes a dove and says that she can rule out further rate increases, that's music for the markets. 70% of Intesa Sanpaolo employees have chosen the short week
Without the American stock exchange, closed for holidays, the European stock markets were revived by the ECB minutes which suggest a drop in rates in the first part of 2024
From 2024, the ECB will carry out stress tests on the cybersecurity of banks for the first time to assess the preparedness and resilience of credit institutions in Europe. The outgoing president of the Supervisory Board Andrea explained it…
The drop in inflation beyond forecasts in Europe calls monetary policy into question and now the stock markets are starting to think that the ECB could begin to reduce rates - Also watch out for the Fed
Already in September there was a clear recovery in mortgage requests, even before the announcement of the ECB's rate stop. It is still possible to use the Fund for the purchase of your first home by 31 December
Yesterday Piazza Affari was the only European stock exchange in positive territory - Big Tech is flying but US GDP worries the Fed - High tension Mediobanca meeting tomorrow
ECB leaves rates unchanged but Lagarde makes no commitments on the future - US GDP comes close to a 5% increase - Markets skeptical but Piazza Affari rebounds
“Now is not the time for forward guidance.” ECB President Christine Lagarde said this at a press conference in Athens after the board meeting that she unanimously decided to leave rates unchanged at 4,50%: it is…
Inflation is slowing down somewhat but rates, if kept high for some time to come, will be able to push it towards the 2% target always indicated by the ECB - Two-speed stock exchanges
Opening in the red for the European stock markets, Saipem down in Milan after the accounts and the capital increase to service the conversion of the bonds. All eyes are on Stellantis after Ford's agreement on the contractual renewal with the unions
Interview with Gian Maria Milesi-Ferretti, former deputy director of the IMF and now senior fellow at the Brookings Institution in Washington - Faced with the difficulties of the Italian economy "the populist attitude towards Europe and investors would be the worst signal"
Eurozone finance ministers have supported the appointment of Italian Piero Cipollone as Fabio Panetta's successor - Final word at the European Council
European markets open higher: Ftse Mib over 29.000 points. The ECB's statement on the near future of the economy and monetary policy reignites the rush for shares but also the new decline of the euro and the rebound of BTPs -…
Le Lancette dell'economia, a historic column by Fabrizio Galimberti and Luca Paolazzi, will respond to the main current economic and financial issues on Saturday 16 September
Lagarde's words which make one imagine a pause in the rate rise after today's gives a boost to the stock markets and Milan runs, driven by Enel and Prysmian - Euros and spreads fall
The new price projections push the ECB to further tighten monetary policy, but "some governors wanted a pause", admits Lagarde. According to the ECB, rates have reached a level high enough to "tame inflation". And the bags…
A few hours after the ECB board meeting, uncertainty about rates is at its highest but an increase of a quarter of a point remains probable - Hints of recovery in China - Oil still at the top
A woman will lead the Single European Banking Supervisory Authority - Buch gets the better of the Spanish Delgado who is now aiming for the EIB - The appointment must be confirmed by Parliament and the EU Council
In a six-page opinion, the ECB criticizes the measure introduced by the Meloni government: For the Eurotower "the extraordinary tax creates an uncertain fiscal framework and can make it more expensive for banks to attract new capital"
Brent exceeds 92 dollars a barrel and BP's CEO leaves: bad signs on the eve of central bank meetings on rates - Mediobanca towards clash
Despite the macroeconomic worsening, the Milan Stock Exchange regains its luster thanks to the rises in oil, banks and industry - Juve in swing
Markets waiting to understand the moves of the central banks - Exor denies the hypothesis of a sale of the Juve control package but the stock soars in Piazza Affari
After Jackson Hole and while waiting for the new meeting of the Fed and the ECB, Andrea Terzi (Cattolica) and Creel (Sciences Po) intervene on the next moves of the central banks
In the latest report on the economy of the EU and the eurozone, the international organization sees the need for a double squeeze: fiscal and on rates
Oil production cuts by Saudi Arabia and Russia push up prices and could fuel a monetary tightening if there are risks of a recession
During her speech today, the president of the ECB tried to reassure the markets "we will bring inflation back to our medium-term objective of 2% in due time". No indication of the direction that the next Governing Council of the…
New change of gear by Minister Giorgetti on the European candidacies: Cipollone for the ECB and Franco for the EIB
Saipem is the best stock on the list, fears return in Europe for the next moves of the ECB, the economy slows down in the USA, but Wall Street is on the rise
The president of the European Central Bank at the Jackson Hole symposium reiterated that the ECB must keep rates at a "sufficiently restrictive level for the time necessary" to achieve a "timely return of inflation to the 2% target".
Daniele Franco is in pole position to join the ECB board in place of Fabio Panetta: the appointment should mature in the Eurogroup in October
The ECB would not have really liked the decision to tax the extra profits of the banks: "Measure harmful to the economy". Criticisms also on the provision and on the destination of the funds
In the new economic bulletin, the ECB sounded an alarm bell about inflation and GDP: “Prospects are uncertain. They weigh war and climate”
A new report by the Observatory of Italian public accounts indicates that, faced with such different inflation rates within the Eurozone, the unitary monetary policy of the ECB risks being too expansionary for some countries and too restrictive for others
Effervescent stock markets before and above all after Lagarde's words on the easing of monetary policy - Piazza Affari among the best in Europe with Stm, Moncler and Stellantis on the shields - Euro under pressure
The ECB no longer takes it for granted that it will have to raise rates at its next meeting: "We could raise them or pause, but it won't be definitive". Stock exchanges expand earnings, euro under pressure
Stock exchanges open higher after the Fed verdict. The Ftse Mib exceeds 29.000. Stm over 1 billion in profits but down in Milan. Well Enel after the half-yearly
Tesla and Netflix slow down but do not stop Wall Street which continues with the increases. Europe opens slightly lower. Eni and five companies targeted by the Antitrust over fuel prices
Opening dominated by uncertainty in Europe, Asia is declining where the weight of the gravity of the Evergrande crisis in China is once again being felt. Tesla and Microsoft in the running but Goldman Sachs advises caution
With the appointment of Michele Bullock to head the Reserve Bank of Australia, there are 24 women at the head of an international central bank
The most hawkish of the Fed is leaving, inflation is loosening its grip, there are fears for credit: the clues are there. Will they be enough for central banks to end the hike campaign in July? Let's see what novelties they can play…
The governor of Bank of Italy Ignazio Visco says it clearly: "The banking system is solid, but the risks associated with a deterioration in credit quality must not be overlooked"
The tightening on interest rates will continue but the Stock Exchanges are not worrying too much about it: the Eurostoxx index is now one step away from the maximum and Apple's capitalization is close to 3 trillion dollars
At the center of attention is the great Sintra event, the Portuguese cartel where the major central bankers meet. Most of them still see rate hikes in July and September
The replacement of Panetta on the board of the ECB with an Italian is not automatic and in the past Spain missed a turn. Meloni expects to gather the necessary European consensus but the new postponement of the Mes is not a…
Foreign Minister Antonio Tajani attacks the ECB: "Thus we risk recession", but Lagarde confirms the hawkish line: "Inflation at 2% is the only priority. Reach the goal no matter what”
Stock exchanges pass the central bank test. After the Fed, the ECB, the Bank of Japan and China, stock markets are up. The real surprise: Türkiye and Brazil, that's why
The Lagarde effect on the stock exchanges was immediate, but limited - Wall Street resists - The euro strengthens
Lagarde: "Have we finished the journey? No, inflation is too high for too long" - The stop from July on reinvestments of securities has been confirmed - Stock markets weak, the euro rises
Powell warns that in 2023 the Fed will raise rates twice more and today the moves of the ECB are expected - The battle in Telecom heats up
The markets take the Fed's hike stop for granted. Piazza Affari pink jersey - Mfe stocks down on the day of Berlusconi's funeral. In London Vodafone-Hutchison agreement for the merger of the mobile telephony business
The stock exchanges are looking at the next moves of the central banks and await the data on US inflation - Banks and utilities down in Milan, the titles of the Berlusconi galaxy run
Unemployment is also declining. Rates: if the Fed seems ready to take a break from the tightening, the ECB president has no doubts: "Inflation still too high, determined to bring it back to our 2% target"
The Ftse Mib index falls below the psychological threshold of 27 thousand basis points: in strong red Mps, Stm, Pirelli, Leonardo - Mediobanca bucking the trend after the presentation of the plan and the promise of rich dividends
In the Economic Bulletin, the ECB reports the collapse of loans to households and businesses, to the lowest level in the last 20 years. GDP will continue to grow also in the second quarter
7 months after the end of Andrea Enria's mandate as President of Banking Supervision, the selections are open - Irish Donnery and Spanish Delgado are also in the running - Applications by 23 June
In the pre-bulletin, the ECB warns that the impact of the rate hike on the real estate market is already being felt and is destined to get worse. In Piazza Affari Interpump and Stellantis do well, the banks do badly
The stock market rally in Japan and the recovery in US debt are among the few lights that are projected today on the markets anxious about the moves of the ECB and the plans of governments to tax extra profits…