The season of records is not over. On the contrary. This morning the MSCI Global index, based on the 49 most important stock exchanges on the planet, rose to a new high, driven by the new highs established by the Japanese markets and by the three main indexes of the US markets. Europe is also participating in the party: the Stoxx 600 is at the top, under the impetus of the German Stock Exchange.
FLY APPLE AWARDED BY CHINA
The symbolic stock of the golden season is Apple, +2,1% on the wave of growth in sales of I Phone 11 in China: +18% in December, almost a symbol of the détente between the United States and the Asian giant which falls on the eve of the signing of the agreement on tariffs, set for day 15 in Washington.
And Iran? The emergency is not over, but it's less scary, partly because oil, important as it is, is unable to condition the USA, partly because of the tragic accident in Tehran: it is now certain, accuses Canada, that Iranian missiles mistakenly shot down a plane in retaliation for the killing of General Suleimani. This too contributes to the fortunes of Donald Trump, who emerges triumphant even from the polls of the harshest critics, such as the Petersen Institute, and, barring twists and turns, is heading towards a probable re-election in November.
Central banks are also favoring the rally: yesterday the vice president of the Fed, Richard Clarida, stressed that the situation is under control. It is difficult to imagine a more positive picture after the first ten days of 2020.
IN BRAKING GOLD AND OIL
In Tokyo, the Nikkei index (+0,34%) is sailing at its highest. The Sydney stock exchange (+0,7%) set a new record. Positive ground for the Chinese markets and the Asia Pacific index, +0,18% on the eve of the Taiwan elections, a delicate event for the balance of the region and for establishing the effects of the Hong Kong protests.
Safe-haven assets lose ground, starting with gold, which fell to 1.547 dollars an ounce.
The euro trades at 1,1095 against the dollar. The only emotions come from the pound, down to 1,3069 against the dollar after the governor of the Boe, Mark Carney, evoked the possibility of a rate cut in view of Brexit, officially included in British law yesterday.
Oil deflates: the WTI trades this morning at 58,66 dollars a barrel, against the peak of 65,65 at the beginning of the week.
US QUARTERLY CAMPAIGN UNDERWAY
Technology and finance yesterday favored the new records of the Wall Street indices: Dow Jones +0,74%, S&P500 +0,67%. Nasdaq +0,81%, at 9.203 points.
The spotlights are already focused on the next launch of the quarterly campaign. The brokers are positive on the accounts of Citi and Goldman Sachs.
THE RECOVERY OF THE INDUSTRY PUSHES FRANKFURT
To add other notes of optimism we thought about some data arriving from the economies of Euroland. The German locomotive picked up speed: industrial production in November grew by 1,1% compared to October, from -1,7% in the previous month and better than the +0,8% estimated. The trade surplus is reduced, but the balance remains largely positive (18,2 billion euros in November).
Good news also from Italy. In November, the employment rate rose by 0,1 percentage points, to 59,4%, the highest since 1977, the year in which the all-time series began. Employed people grow by 41.000 units (+0,2%). But the number of hours worked does not increase.
PIAZZA AFFARI RETURNS ABOVE 24 THOUSAND POINTS
The Milan Stock Exchange (+0,77%) thus rose above 24 points (24.016)
The most brilliant list was Frankfurt (+1,31%). The recovery of the airlines (Lufthansa +4,12%) favored the rebound once the fear of high oil prices had been exorcised. Still positive, after the boom on the eve (+6%) the Deutsche Bank stock (+0,8%).
Paris moved little (+0,11%). This year the Cac 40 dividend payout is second Les Echos, will exceed 60 billion euros, 12% more thus beating the 2007 record. London +0,37%.
BTP, NEW LONG SECURITIES COMING SOON
Bond sales are back, with German Bund yields rising (-0,19, from -0,28%) after yesterday's placements. On the contrary, the yield of the Btp falls. The spread stands at 160,5 basis points from 167 at the final on Wednesday.
The 1,38-year rate drops to 1,41% from XNUMX%.
The Treasury ministry probed the market into the possibility of placing a new 15- or 30-year BTP through a syndicate as early as January or in any case shortly.
Only oil (Eni -0,7%, Saipem down 2,3%) closed yesterday's session in the red, dominated by the rally of banks and, even more, of managed savings.
AZIMUT SUPERSTAR LEADS THE CHARGE OF MANAGEMENT
Azimut (+5%) stands out in the main basket of the Milan Stock Exchange. The company expects to close 2019 with the best consolidated net profit in the history of the group, between 360 and 370 million euros. FinecoBank +3,5% after the brilliant data on funding in December. Banca Mediolanum +3%. Poste Italiane was also positive (+1,8%).
7,7% OF NEXI IS PLACED TODAY
The Mercury fund has announced the sale, through accelerated bookbuilding, of 48,5 million Nexi shares, for an amount equal to approximately 600 million euro.
Among the banks, Banco Bpm took off (+5,43%). Banca Imi ratifies the Buy with an unchanged target of 2,80 euros, while Mediobanca confirms the Neutral with a target of 2 euros. But the session was positive for the entire sector.
Ubi Banca (+2,2%) could abandon the plans to review the bancassurance activities, the possibility of a confirmation of the current policy distribution agreement looms: the partners are Cattolica and Aviva.
Mediobanca +0,5%. Leonardo Del Vecchio is trying to get the green light from the European Central Bank to go beyond 10% (today it has 9,9%) and fly towards 20%.
The big names also rise: Intesa +1,54%, Unicredit +1,43%.
AMPLIFON AWARDED BY PURCHASES IN AUSTRALIA
Highlights Amplifon (+2,47%) after the agreement for the acquisition of Attune Hearing Pty, the largest independent operator of audiology services in Australia.
PRYSMIAN, NEW BUSINESS IN CHINA
Prysmian also advanced (+0,61%), which was awarded a contract with Dongfang Electric Corporation (Dec), one of the largest Chinese state-owned companies and one of the world leaders in the energy generation systems sector.
ATLANTIA RISKS BLESSING
Atlantia recovers (+0,37%). Fitch announced that it has taken the following measures: downgrading the rating to BBB from BB on a series of medium-term bonds issued by the holding company. Autostrade per l'Italia rating cut. With the downgrade of Fitch, Atlantia risks having to repay 2,1 billion.
Tinexta (+6,5%) is among the best together with Retelit (+7%) and Digital Bros (+5%).
Confinvest slows down (-7%): profit taking starts after the rally started at the beginning of 2020.
