From Santa Claus to the Epiphany it is still a feast of purchases on European lists, which close the second session of the new year on the rise, despite the mixed performance of Wall Street, positive at the start, but now weak with the Nasdaq, due to sales on technology and pharmaceutical stocks. Apple is also losing share, after exceeding three trillion dollars in capitalization yesterday, the first stock in history to reach this milestone.
PIAZZA AFFARSI HOOKS 28 POINTS THEN FOLLOWS, LONDON AT THE TOP
Piazza Affari appreciates by 0,81% and closes just a step away from 28 thousand points, surpassed in the course of trading as has not happened for over ten years. It drives the main Iveco price list +5,96% which recovers most of the losses from its debut. It bounces as well Cnh, +1,57%
The banks shine, starting with Unicredit +3,81% (14,276 euros per share), returning from a 2021 to be framed, in which it recorded the highest increase among the blue chips. The bank had not exceeded the €14 threshold since February 2020.
Highlights in the sector are Intesa +2,09%; Mediobanca +2,01%; Bench Bpm +1,4%.
In the car I am in pole position Ferrari +3,02% and stellantis +2,23%. Progress is consistent for oil stocks, in particular Eni +1,63% and Tenaris + 1,38%.
Red mainly dresses defensive stocks, Amplifon -2,06%; Diasorin -2,6%. Discounts for utilities, Snam -1,83% Italgas -1,22%, the latter while the price of gas rises, as Russia has further reduced the flow of supplies.
In the rest of Europe: Paris +1,39%; Frankfurt +0,82%; Madrid +0,39%; Amsterdam +0,12%. It stands out above all London +1,63%, which reopened its doors today after the New Year's weekend.
The best performing stocks are those in the autos, banking, travel and leisure sectors, as the belief that Omicron will not stifle the economic recovery has strengthened.
In Germany, in December, unemployment fell faster than expected, according to official data published on the day, demonstrating that the labor market of the leading European economy remains resilient despite the increase in infections from Covid-19.
Today, the WHO also opens up to hope and says that further evidence is emerging that the new variant of Sars-Cov-2 mainly affects the upper airways and less the lungs. This is good news, which however collides with the fact that the virus is much more contagious and destined to become dominant in many parts of the world. In the USA it touched the new record of one million cases in 24 hours. But it's not so much the United States that worries as the countries where there are few vaccinated people.
RATES ON GOVERNMENT BOND RISES
The framework favors the purchase of shares and drives investors away from government bonds, in the expectation that the more restrictive path traced by central banks, especially the Fed, will be respected.
The US 1,675-year bond trades with a falling price and a rising yield of around +XNUMX%, awaiting tomorrow's ADP report on hiring in the private sector. On Thursday there will instead be the usual weekly data on claims for unemployment benefits; December jobs report on Friday. The week also includes the release tomorrow of the minutes of the last meeting of the Fed, when central bankers announced an acceleration of the process that will lead to the end of the bond purchase program.
Meanwhile, in the euro area, the basket of government debt decreased in December with a yield with a minus sign in front, as emerges from the data released by Tradeweb, proof that we are looking at a rise in interest rates at global level. The value of negative-yielding euro-denominated debt was around €5.100 trillion at the end of December, down from around €6.200 trillion in November.
The Italian secondary closed in the red today, with the yield on the 10-year BTP rising to +1,21% and the Bund rate of the same duration at -0,13%, for one spread by 134 basis points (+1,94%).
As far as Italy is concerned, investors are also looking at the fate of Mario Draghi, while the date for January 24 has been set the first vote of the new President of the Republic by the parliament meeting in joint session.
Meanwhile, the Ministry of Economy and Finance announces that it has entrusted Barclays Bank Ireland, BNP Paribas, Deutsche Bank, Intesa Sanpaolo and JP Morgan with the mandate for the syndicated placement of a new benchmark 30-year BTP - expiring on 1 September 2052. The transaction will be completed in the near future, depending on market conditions.
OIL ON THE GROWTH. OPEC+ INCREASES PRODUCTION AS EXPECTED
Futures are up Petroleum, while the extended cartel of the OPEC+ producing countries confirmed the policy of an increase of 400 thousand barrels per day also for the month of February, as expected, considering the less devastating effects of the Omicron variant than the previous epidemic waves.
WTI in February rose by 0,57% to 76,51 dollars and Brent in March by 0,73% to 79,57 dollars.
The currency market is flateuro/dollar, on yesterday's levels, with the cross just under 1,13.
Meanwhile, the dollar extended its gain against the yen to a new five-year high in the afternoon, with investors betting on Omicron's limited impact on the economy and a hawkish Fed, which will raise rates later in the year. year.
