The US markets are trying, with difficulty, to restore order after the upheavals caused by traders, at least 3,2 million, who they upset GameStop trading and pricing, AMC (the most important cinema chain in the world), Blackberry and other stocks, putting several hedges at risk. Several platforms, including RobinHood, the most followed, have suspended their activity causing a sharp fall in prices. The traders rise up supported by the democratic pasionaria Alexandria Ocasio-Cortez. GameStop plunged to $193 on Thursday from $347 the previous day. The same happened with the AMC cinema chain: -57%.
US GDP +4% BETTER THAN EXPECTED
But, at least for now, the emergency seems to have passed. The return to normality was favored by the comeback of the price lists driven by the accounts of the big names and by the trend of the GDP: +4% in the fourth quarter, better than expected. The markets are cautiously approaching the weekend break, more welcome than ever amid controversy and tensions related to disputes over vaccines, especially in Europe.
FUTURES DOWN IN EUROPE AND WALL STREET
The future of the EuroStoxx 50 index loses 1%. Derivatives on US Stock Exchanges also fell Yesterday Dow Jones and the S&P 500 index gained around 1%, Nasdaq +0,5%.
In evidence GM: the Detroit group has announced the stop to the production of petrol and diesel cars from 2035.
Tokyo's Nikkei index, up in the early stages of the session, is starting to close down by 1,5%. -2% the weekly budget and +0,7% the monthly one. JCR Pharma's rally continues on the Japanese list, +12% today and +42% this week. In addition to presenting results for the quarter that exceeded expectations, the company was commissioned by Astrazeneca to produce 90 million doses of the Covid 19 vaccine.
Hong Kong's Hang Seng index, the protagonist of this month with a rise of 7%, is down by 0,2%: -2% for the week. CSI 300 of the Shanghai and Shenzen price lists +0,2%. +6,8% per month, -3,6% per week.
HUNGER FOR CHIPS: HYNIX TAKES FLIGHT
Down the Kospi of Seoul, -2,8%. Although all chip companies fell tonight, Korea's SK Hynix gained 2% on the day of the quarterly. The world's number two DRAM player quadrupled its operating profit to 966 billion won ($868 million). The company expects demand for Dram to boom in 2021 and demand for semiconductors to rise sharply, despite recent production capacity increases The Apple supplier warns that chip buyers could run out of steam this year.
THE HUNGER FOR VACCINES: TODAY WE DECIDE ON ASTRAZENECA
The other sector at risk is vaccines: today the EMA will give the green light to the vaccine AstraZeneca, but since the company has not provided enough data to evaluate its effects on minors and the elderly, it will be up to each European government to decide how to use it. Germany has already said it will only be given to those under the age of 65.
NovaVax said its experimental Covid 19 vaccine was found to be 89% effective in a sample of volunteers. Both the English and South African variants were unable to resist the antibodies. The stock was up 20% post-exchange. Brent oil was down 0,3% to $55,3 a barrel this morning. Euro dollar at 1,209.
“SUSTAINABLE ITALIAN DEBT” SAYS FISCAL MONITOR
Vitor Gaspar, head of the Fiscal Monitor report is optimistic: the Italian debt is sustainable, both in light of the low rates and the recovery in the second half of the year. According to the International Monetary Fund, the Italian debt in 2021 will rise to 159,7% against the 158,3% expected in October, but the 2021 deficit will be only 7,5%, while the estimate for 2020 is reduced to 10,9 % against 13% in October. A situation in chiaroscuro that doesn't leave you calm but doesn't ring alarm bells. Meanwhile, Wall Street, grappling with the offensive of small traders, promotes the balance sheets of the Big ones. But the people of small speculators are starting to make their voices heard in Europe too: in the viewfinder Nokia, German pharmaceutical Evotec and the former parent company of the Financial Times, the pearson.
BUSINESS PLACE +1,17% AT THE TOP
- Piazza Affari was the best stock exchange in Europe with 21.916 points, +1,17%
- In the rest of Europe Frankfurt +0,33%; Paris +0,93%; Madrid +1,1%. In red London -0,63%.
- Commerzbank plans to cut 10.000 jobs and close several hundred branches as part of the ongoing restructuring. The German newspaper Handelsblatt claims it, citing several anonymous sources.
SPREAD TO 118, RATES RISE AT AUCTION
The spread stands at 118 on the day of the medium/long-term auction.
The rates of 5 and 10-year BTPs rose again in Thursday's auction to their highest levels since the end of October, after having fallen to historic lows in the previous offer.
The Treasury has assigned the maximum range of the offer, between 7,25 and 8,75 billion euros.
In particular, the ninth tranche of the 5-year BTP (February 2026) was assigned for 3,5 billion euros with a rate that rose to 0,07% from 0,01% at the end of November.
The seventh tranche of the 3,75-year BTP (April 10) was assigned for 2031 billion, with a yield that rose to 0,65% from the previous 0,59%.
The third reopening of the CCTEU April 2026 was allocated for 1,5 billion at a yield of 0,04%.
STM RECORD +4,2%: TOWARDS 12 BILLION SALES IN 2021
The best performance of Piazza Affari was that of Stm which closed the session up 4,2% at 33 euros. The better-than-expected first-quarter 2021 guidance supported the stock, which garnered positive judgments from analysts on the accounts. The Italian-French jv exceeded ten billion in revenues for the first time despite the embargo against Huawei, one of the best customers. The market situation is "excellent" said CEO Jean Marc Chévy: the goal for 2021 is to exceed 12 billion. Banca Akros confirmed the accumulated recommendation and the target price at 31,5 euros.
PRYSMIAN ALSO RUNS +3,6%
Strong recovery Prysmian +3,56%. Intesa San Paolo reiterated the add rating and the target price of 30,1 euros, after the company launched an offer for an equity-linked bond for a nominal amount of 650 million and the possible simultaneous repurchase of the company's securities. Banca Akros confirmed the accumulated recommendation and the target price at 31,5 euros. “Q2021 12 guidance is very strong and XNUMX% above consensus. The estimates should be revised positively,” Akros explained.
IN BRAZIL 300 SMART METERS FOR ENEL +3%
Among the utilities, noteworthy is Enel (+1,94%), which has launched a pilot project in Brazil to install 300.000 smart meters in its concession area.
Weak Unicredit -0,2%: the board unanimously identified Andrea Orcel as the new managing director.
GENERALI, THE START AFTER DE COURTOIS
Generals -0,7%. The BoD has approved a new organizational structure aimed at supporting the execution of the plan to 2021 which terminates the position of General Manager, currently held by Frederic de Courtois, who will leave the group on February 1st.
STELLANTIS, DBRS ALSO RAISES THE RATING
Stellantis +2,33%. The DBRS rating agency has raised the car manufacturer's Issuer Rating and Senior Unsecured Debt rating from “BBB (low)” to “BBB”. Martin Vial, head of the company that manages French state holdings APE, said Bpifrance would not remain a shareholder of Stellantis forever. Cnh Industrial +1%. Positive Tenaris +2,7% and Saipem +0,7%.
BLACK JERSEY FOR DIASORIN
Among the worst of the day we find Terna -1,06%, Banca Mediolanum -1,27%) and Italgas. However, the black jersey belongs to Diasorin who, after the gains of the previous days, scores the worst performance of the Ftse Mib, losing 5,63%.
SAFILO SHINES AMONG THE MID CAPS, FALCK RENEWABLES RUNS
Out of the main list:
- De Longhi -2%, closed 2020 with preliminary revenues of 2,35 billion euros, up 12%, after a 10,3% improvement in the fourth quarter.
- Piaggio -1,5%, closed 2020 with consolidated revenues down to 1,314 billion euros, -13,6% on 2019. In the second half alone they grew by 1,3% on an annual basis.
- Tod's +1%. In the fourth quarter, sales fell by 22% to 184 million euros, in line with consensus expectations. Retail channel -19%, wholesale channel -32%.
- Safilo +3%, closes 2020 with revenues of 780 million euros, down 17%. The figure is in line with expectations. In the fourth quarter, sales rose by 3% on a like-for-like basis, mainly as a result of the recently acquired businesses.
- In the light Falck Renewables +3,59%: the company was awarded 40MW of solar energy in the Spanish renewables auctions.
- Landi Renzo is also positive in territories +2,59%, after the company signed an agreement with Mahindra & Mahindra Limited (M&M) for the construction of a tractor equipped with a new generation Cng engine.
- Fincantieri -1,4%. Paris and Rome have decided to abandon the merger project between the Italian group and the French partner Chantiers dell'Atlantique.
