European stock exchanges lengthen pace, Stellantis and Tim do well in Milan. Gas still down

(Il Sole 24 Ore Radiocor) 2023 is off to a good start for the European stock exchanges. The main indices, after a positive start, lengthened their pace and began to march at a fast pace – In Milan the FTSEMIB marks a progress of more than 1%, while lo spreads moves in area 212 points and the yield on 10-year government bonds at 4.61%. On the other hand, last week the markets of the Old Continent recorded a weak performance, which aggravated the 2022 budget already in deep red. Last year Milan left more than 13% on the parterre. The loss, however, would have been far worse if the indices hadn’t run in the last months of the year: at the end of September, the Ftse Mib was down around 26%. Today the European markets do not have the beacon of Wall Street, which is closed for holidays. And the Japanese square has also remained closed.

In December, European manufacturing improves, but remains in contraction

At the macro level, it emerged that European manufacturing activity improved in December, despite remaining in contraction. the maximum in three months. “During the last month of 2022, the intensity of the contraction in the Eurozone manufacturing sector decreases, with the easing of inflationary pressures and more stable conditions of the supply chain, factors that have given respite to producers of goods”, he remarked the Ihs Markit institute which calculates the PMI indices, which however also focused the index on the weakness of customer demand in the form of a drop in new orders received. «Companies have transferred the greater production capacity in the reduction of outstanding work. At the same time, in December, despite the collapse in the volume of purchasing activity and production, new increases were recorded in inventories of production factors and finished products. Having said that, employment growth continues”.

Telecom and Stellantis are highlighted in Piazza Affari

At Piazza Affari Stellantis it gains 1.4%, pending the data on Italian registrations (with the market closed), even if by now the group records the bulk of its turnover in the States. They run Stmicroelectronics (+1.1%) and oil shares are well positioned, with Tenaris and Eni up by more than 1%. They also run Telecom Italy, following the words of optimism on the network dossier expressed by Minister Adolfo Urso in the pages of Il Sole 24 Ore (last December 31st). They also turned upwards Moncler, despite a subdued start due to fears caused by Covid infections in China. I’m going against the trendamplifier. Out of the main basket, Mps Bank jumps by more than 4%, after the Sienese institute he reiterated that the significant doubts regarding the company’s continuity have been overcome which had been declared in previous reports after the 2.5 billion euro capital increase, which was successful in recent months.

Euro in the 1.06 dollar area, gas still down

On the foreign exchange market, theEUR it is worth 1.0673 dollars (Friday closing at 1.0680) and 139.73 yen (140.85), while the dollar/yen cross stands at 130.93 (131.82). The price of gas in Amsterdam continues to slide, after the 14.5% slowdown on Friday: the February future stands at 73 euros per MWh, down 4.3%.

We would love to say thanks to the writer of this short article for this amazing material

European stock exchanges lengthen pace, Stellantis and Tim do well in Milan. Gas still down

Check out our social media accounts as well as other related pages