Direct from the markets | A bunch of coupons from Enel and Snam are drawn at Ftse Mib. Oil goes up, gas goes down
Ftse Mib remains in negative territory at the midpoint, weakened by the separation of Snam and Enel, the largest capitalization of the Italian stock market. At 13:00, Milan was up 0.55% (about 0.5% technical decline), London was up 0.3% and Frankfurt and Paris were flat.
Enel remains at about 4%. The energy company is paying an interim dividend of €0.2 per share for 2022, up 5.3% from the €0.19 interim dividend allocated last January. Snam also loses ground (-3.7%) by 5% from 2021 and 2022-2026 dividend policy after the €0.11 coupon.
Commodity traders are uncertain
Purchase, however, with a commodity front oil both benchmarks rose on the list: Wti +0.93% to $82 a barrel and Brent +0.97% to $88.5. After a rocky start to 2023 that saw prices fall more than 10%, crude oil futures rallied, supported by an improving economic outlook and rising demand from China, two factors fueling market optimism. for Valid KudmaniAccording to Xtb’s chief market analyst, OPEC’s production target is unlikely to be changed in the short term, especially if demand increases significantly. Meanwhile, at Ttf in Amsterdam gas decreased by 3.7% to 64.38 euros per megawatt hour.
At 10:30 Piazza Affari is in the red as the rest of Europe rises slightly
By 10:30 a.m., the day is winding down, the stock markets are reeling, Wall Street futures are trading below par. Markets try to evaluate the actions of central banks. Expect a hawkish ECB after a day of boardroom talks (see note at 8:30am) and a more cautious Fed. The result is the appreciation of the euro (+0.4% to 1.09) and the return of construction to 4%. Other European stock markets are currently developing in a moderate, positive direction.
Piazza Affari Gvs (+3%), Credem (+2.2%), Intesa Sanpaolo (+2%), Sesa (+2%), Leonardo (+2%) are increasing, on the other hand, sales are concentrated in Juventus. (-6.9%), Enel (-3.5%), Snam, where the interim dividend (-2.8%) is also heavy.
9.10 am – Nervous Piazza Affari on ECB day. Well Tim, Intesa and Unicredit, their rates hurt Snam and Enel.
Piazza Affari opens above parity on Monday, January 23 (+0.3% at 25,815 points) then turns nervous (-0.2% at 9:30), with the euro crossing 1.0914 (+0.53%) against the dollar , a level not seen since April 2022. The market is betting on a more combative ECB and a more accommodative Fed in the upcoming meetings. The difference is 181 points.
At the opening, Intesa Sanpaolo (+2.4%), Unicredit (+1.3%), Mediolanum and Pirelli (+1%), Telecom Italia (+1.15%). Sales were mostly at Snam (-3%), Enel (-2.8%), Tenaris (-1.5%) and Saipem (-1%), with Eni slightly down.
8:30 – European stock markets should be positive due to the ECB day. Look out for Eni, Intesa and Unicredit.
The week starting Monday, January 23 sees China closed for the Lunar New Year holiday and positive Asian stock markets. Meanwhile, at 8:10 Eurostoxx 50 futures are below par (-0.10%), rising to 8:45 (+0.25%) in a day full of meetings. You are in Europe and in the center with the ECB.
At 3:30 p.m Fabio Panetta, a member of the Board of the Central Bank will speak in the European Parliament. Index at 16.00 Consumer confidence in the euro area for January (consensus -20, previous -22.2). Talk to Vienna at 17:00 Robert HolzmanMember of the ECB Executive Board and President of the Central Bank of Austria. At 6:45 p.m., the turn arrives Christine LagardeGovernor of the ECB.
What the node (ECB) said
The European Central Bank (ECB) will increase interest rates by 1.5%. 50 base points It will continue to increase the value of money in February and March and beyond, a member of the ECB’s governing council explained on Sunday. Klaas knotThe president of the Dutch Central Bank said this in an interview with WNL TV channel.
In a separate interview with an Italian newspaper La Stampa Also speaking on Sunday, Mr Knot said it was “too early to say” whether the ECB would slow the pace of interest rate hikes over the summer. Meanwhile, reports from the ECB’s December meeting showed that some board members had initially advocated a 75 basis point hike, expecting inflation to be too high for too long and a larger rise than markets expected.
However, most members eventually agreed to a lower increase of 50 basis points. The ECB increased the value of money 250 basis points from summer 2022 and markets have already discounted interest rates to their peak 3.2% by August 2023.
Be careful in Piazza Affari…
Claudio Descalzi most likely, he will be appointed as the CEO of Eni for the fourth time during the appointment period expected in the spring. Descalzi deserves credit, according to two government sources interviewed by Reuters Prime Minister Meloni and his closest comrades-in-arms should not be questioned.
The contract that Descalzi will sign with the Algerian state group Sonatrach By using the TransMed gas pipeline, Italy’s gas supply will increase to 35 billion cubic meters (currently about 20), writes Il Messaggero.
Intesa San Paolo It closed almost 2% after Bloomberg reported that it was trying to cut the cost of the bank’s services by 20 billion euros. Rwanda (risk-weighted assets) to comply with the ECB’s comments on internal risk rating models identified as inadequate.
Because he took the reins unicreditannouncement Andrea Orsel “Financial Times” writes that it has drastically reduced its expenses on foreign consulting.
between the alliance signed last month Azimut Holding According to press rumors, and UniCredit may cause risk in the wealth management sector in Italy this year. the french Amundi could tighten his grip Anima Holding, Mediobanca always interested Bank General to work Banca Mediolanum he could search for new ways Intesa San Paolo.
Telecom Italia has successfully placed a five-year bond of €850 million.
As for Cnh IndustryMembers of two unions at the group’s factories in the US states of Wisconsin and Iowa agreed on a new contract on Saturday, ending a strike that began last May, the United Auto Workers union said.
The FIGC Federal Court of Appeal imposed a penalty of 15 points Juventus as part of the capitalization process in player transfers. The company has appointed Francesco Calvo as the director of football. ()