Stock exchanges, Europe wary on the day of the US occupation. Gas prices on the swing

(Il Sole 24 Ore Radiocor) – The European stock exchanges they travel little moved on Epiphany day, with low trading volumes, in the aftermath of a sluggish session. The week, after the rally of the first sessions of the yearshould, however, close in broadly positive territory. The FTSEMIB of Milan is above parity, like the CAC 40 Paris. Further back the DAX 40 of Frankfurt andIBEX 35 of Madrid, while traveling at a slightly better pace the FT-SE 100 from London.
Investors are also snubbing the performance of Wall Street, which instead closed on the eve of a marked decline, especially on the side of tech stocks (-1.47% on the Nasdaq). Moreover, investors fear that the Federal Reserve will continue to raise rates, a belief that has also pushed government bond yields higher: the two-year Treasury has gained almost six basis points, reaching 4.445%. In the meantime, expectations are rising for the American report on the job market for Decemberwhich will be published today. On the other hand, the fact that in December does not seem to affect much inflation in the Eurozone continued to fallregistering the first decline since December 2020.

Eurozone inflation falls in December, economic confidence rises

In December, the inflation rate in the euro area is expected at 9.2%, down on the 10.1% recorded in November. Consensus stood at 9.7%. This is Eurostat’s flash estimate. This is the first drop since December 2020 (-0.3 percentage points compared to the previous month). This may be the confirmation that the price increase reached its peak in October at 10.6%. On the other hand, confidence in the economy is improving: in December the figure rose by +1.8 points to 95.8, while expectations on employment are stable.

In Milan eyes on Stellantis and St, Tim observes special

All eyes will be on Piazza Affari Stellantis, in the wake of the slowdown in the European auto sector and after the words of the CEO, Carlos Tavares, who flew to Las Vegas for CES 2023. The manager has opened up to “unpopular choices” such as possible closures or downsizing of some plants while excluding job cuts work and spoke of the need to continue working to reduce the cost of technology, in order to make electric vehicles, the keystone of the group’s future, accessible to the general public. It remains at stake Stmicroelectronics, affected by worse-than-expected Samsung Electronis fourth-quarter data. It also remains under the lens Telecom Italywhile a thousand rumors are being chased about the solutions that will be adopted to bring the network under the state hat.

Trend of the Btp / Bund spread

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Stable spread just above 200 points

Stable trend for the BTp/Bund spread. The yield differential between the ten-year benchmark BTp (IsinIT0005494239) and the same German maturity is indicated at 202 basis points, unchanged compared to the previous day’s reference. The yield of the 10-year benchmark BTP shows a fractional decrease, indicated at 4.30% from 4.32% of the closing on the eve.

Euro little moved, oil on the rise

On the foreign exchange front, the euro is traded at 1.0513 dollars, quite in line with the previous day’s values ​​(1.0525 dollars at the close). The currency also changes hands at 141 yen (140.64), while the dollar/yen exchange rate is at 134.12 (133.58). Oil is up slightly: February’s WTI gains 0.3% to 73.89 dollars a barrel, March’s Brent from the North Sea gains 0.2% to 78.89 dollars a barrel .

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Stock exchanges, Europe wary on the day of the US occupation. Gas prices on the swing


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