Direct from the markets | Ftse Mib closed higher (+1.15%). The best values ​​are Pirelli, Unicredit and Enel

Europe closes the second session of 2023 with a sharp rise: Ftse Mib advanced 1.16% to 24,439 points, Dax 0.8%, Cac 40 0.44% and Ftse 100 1.42%. Thus, the recovery continued at the start of the year, supported by better-than-expected headline inflation in Germany for December. Shortly after the release of the data, the index’s recovery slowed, only to pick up speed again as the opening of Wall Street approached. Pirelli (+4.50 percent), Unicredit (+3.45 percent) and Enel (+2.49 percent) took the podium in Piazza Affari.

Among the manufacturers, there are also acquisitions of Landi Renzo (+4.99%), Interpump (+2.15%) and Snam (+0.91%). Earlier today, the company reassured markets, businesses and households with figures for December 31, 2022. Natural gas reserves held by the subsidiary Stogit 9.3 billion Barring unforeseen events, it will be Italy it has been beaten almost all winter and may even put something aside for next year. Outside the main list, Juventus (+8.7%) continues its recovery that started in mid-December. Purchases continued in the banking sector: Intesa Sanpaolo posted +2.33%, Banco Bpm +2.04%, Bper +1.3%. Instead, Mps fell 1.51% after yesterday’s 6.52% rally.

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Meanwhile, overseas, US stock markets are burning through their first gains of the year. Carefully climb up shortly after opening Dow Jones and the S&P 500 reversed below the bar. Also not far behind Nasdaq followed them, measured by Tesla and Apple shares in deep red.

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15:35 Europe strengthens its rise after the opening of foreign markets

Ftse Eb accelerates after positive opening Wall Street and returned above 24,500 points to 24,591 (+1.79%). After a brief midday break, the rest of Europe also recovered, with the Ftse 100 up 1.54%, the Dax up 1.23% and the Cac 40 up 0.94%. Pirelli (+5.23%), Interpump (+3.46%) and Unicredit (+3.15%) shined in Piazza Affari. Meanwhile, in the foreign exchange market, the euro lost its positions against the US currency, dragging the exchange rate down from $1.06 to $1.0587.

14:10 Europe is slightly lower despite better-than-expected macro data

After the release of macro data of the day, European indices slowed down a bit. Active Germany – primary inflation fell to 8.6% for December, below the Reuters consensus estimate of 9%. For analysts German Consumer Price Index (Cpi) It can provide information on inflation in the euro zone. As a result, at 14:10 Dax +0.69%, in the rest of the continent Ftse Mib increased by 0.98% to 24,394 points, Cac 40 0.45%, Ftde 100 remained healthy (+ 1.15%).

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Wall Street futures also eased ahead of the first session of the year, with the Dow Jones futures up 0.37% and the Nasdaq up 0.52%. At the bell, investors’ eyes will be on Tesla, which missed economists’ expectations and lost 5% to the market after reporting a 40% increase in shipments. For the electric supercar, stock market 2023 could start with the handbrake pulled. Ryan Brinkman JpMorgan lowered its price target on the stock, predicting new clouds on the horizon.

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12:45 Ftse Mib tonic but under tension with markets awaiting Euro, Fomc minutes.

At 12:45, the Ftse Mib confirms a positive session (+1.5%), while the euro is under pressure due to the dollar waking up against the major currencies (-1.3% 1.0529). The common currency was the biggest loser, with the pound sterling falling 0.95% to 1.1933.

The US dollar rose on Tuesday as markets focused on the minutes of the December meeting Federal Reserve Expected to be released on Wednesday (Fomc). Market participants are looking for clues as to what the biggest challenge will be ahead. Exchange rate trajectory in 2023.

The U.S. central bank raised interest rates by 50 basis points last month after four consecutive 75-basis-point hikes during the year, but said it may need to keep the value of money higher in the long run to control inflation.

“The Fed has been aggressive, but the market hasn’t priced it in,” said Niels Christensen, senior analyst at Nordea. “Instead, the market is cutting rates towards the end of this year, and that’s not the Fed’s message as we read,” Christensen added.

10:25 – Inflation eases again, Accelerates with Piazza Affari StM, Saipem, Banco Bpm and De Nora

At 10:25, the Ftse Mib rose +1.5% to 24,528 points, according to European charts. London Ftse 100 differs by +2.08%. Alerion gained 4.4%, StM 3.3%, De Nora 2.6%, Saipem 2.5%, Banco Bpm 2.4%.

Of Germany Meanwhile, good news is coming. pending national information oninflation CPI update for 2 p.m The state of Saxony. THERE IS December inflation increased8.3%vs. 10% in November, 10.5% in October and 10.1% in September 2022. Inflationary pressures eased in Europe’s biggest economy in December after the government’s poverty reduction action plan. lower gas bills for households.

During this time, Elisabeth Borne, Prime Minister of France stated that inflation expected to peak in early 2023 before declining. Investors are also reassessing the outlook for growth and monetary policy. CFO on the business news front Deutsche Bank told a local newspaper that the bank is on track to meet its restructuring goals, while the German chemical retailer Brenntag said that he has finished negotiations with his American rival Univar Solutions about a possible purchase.

9:15 – Piazza Affari regains its height in anticipation of inflation. Saipem recovers, Terna and Hera are wounded

Piazza Affari opens volatile on Tuesday, January 3, with Ftse Mib trying to maintain parity after closing yesterday up 1.9%. After a few minutes, it starts to turn red (-0.15%), then regains its height at 9:30 (+0.4%).

Sales were concentrated in the utilities sector, with Terna (-1.6%) leading the losses, followed by Hera (-1.3%), Italgas, Snam and Erg (less than 1%). On the other hand, Saipem also made good progress today (+3.2% to €1.22).

8:30 – Red European stock markets on expectations of inflation in Germany. Note the Banco Bpm

After a bright start to 2023, 1.9%, Piazza Affari is preparing for a more volatile session on Tuesday, January 3rd. As of 8:15 a.m., Eurostoxx 50 index futures were down 0.8%. In Asia, Chinese stock markets rose despite a sharp decline in Caixin manufacturing PMI data.

It will be important to see how inflation develops in Germany today and how the PMI sector improves in the US in December. Minutes of the Fed’s last FOMC meeting, which slowed the pace of rate hikes in December, will be released tomorrow. Meanwhile, Wall Street futures fell 0.3% to 0.2% in Asian trade.

Today’s calendar

09:55 German unemployment rate for December (consensus 5.60%, previous 5.60%);

10:30 S&P Global Dec UK Manufacturing Pmi (consensus 44.7, prev 44.7);

14:00 Adjusted inflation in Germany in December (consensus 10.50%, previous 11.3%);

15:45 US S&P Global Dec manufacturing Pmi (consensus 46.2, previous 46.2)

16:00 November monthly construction spending (consensus -0.40%, previous -0.30%)

Be careful in Piazza Affari…

Stellantis It ended 2022 with a 35% market share in Italy and a 16% drop in registrations. Overall, car registrations fell by 21% in 2022, according to the Department of Transport.

As for Bank BpmA group of endowments and scholarship funds, as of December 31, joined a consulting pact with the European Union bank.8.3%according to the document published on the website.

general finance It closed the 2022 fiscal year with total revenue of 2.01 billion euros and cash flow of 1.67 billion euros, which are in line with the company’s market expectations when it presented its new 2022-2024 business plan on November 4.

Consob suspended the preliminary conditions of the investigation into the takeover bid initiated by Femto Technologies for a maximum period of 15 days. Prima Industry to request additional information from bidders. (repeated in secret)

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