Home » A cautious start to the week for EU stock exchanges. In Milan, eyes on Carige

A cautious start to the week for EU stock exchanges. In Milan, eyes on Carige

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(Il Sole 24 Ore Radiocor) – The European stock exchanges, after a modest upward start, prefer caution and are unable to continue on the path of the first week of the year, which saw the indices record a positive balance, however, held back by the prospect of an anticipated hike in Federal Reserve rates .
However, the issue continues to hold its own, as does the expectation for the American inflation data for December, scheduled for January 12, while futures on Fed Funds now give almost 90% probable a first squeeze in March (the second in June is over 90% listed). Against this backdrop, investors initiated a sector rotation on equities to ease their positions in high-growth stocks, which have already raced a lot. Thus the FTSE MIB in Milan, the CAC 40 in Paris, the DAX 40 in Frankfurt, the Ftse 100 in London, the IBEX 35 in Madrid and the AEX in Amsterdam all move at a very uncertain and mostly declining pace. .

In Milan, eyes on Bper and Carige

Among the main Milanese stocks in the spotlight Moncler, Leonardo and Banco Bpm, Iveco Group still down, down in the previous eighth after the start of trading on January 3 following the spin-off from Cnh Industrial. At a slow pace also Diasorin and Amplifon. Bper for sale after, according to rumors, the board of directors improved the offer for Banca Carige to overcome the competition from Credit Agricole Italia. During the day, the Fitd shareholder met to evaluate the proposals on the table.

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Ferrari in the spotlight with a new organizational structure

In Piazza Affari under the spotlight Ferrari, which announced a new organizational structure, defined after the arrival of the new CEO Benedetto Vigna. The CFO Antonio Picca Piccon, Enrico Galliera at the head of Marketing & Commercial and Mattia Binotto at the Sports Management have been confirmed. As explained in a note, this is “consistent with the strategic objectives of enhancing the exclusivity of the brand, enriching the excellence of the product, remaining faithful to its sporting DNA and focusing on carbon neutrality by 2030”.

The euro / dollar exchange rate

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Euro strengthens, oil little moved

On the foreign exchange market, the dollar strengthened to 1.1324 for one euro (from 1.1349 on Friday at the end) and 115.78 yen (115.61 on Friday). Euro / yen at 131.11 (from 131.21).
Finally, the price of oil slightly increased: the February WTI future rose by 0.48% to 79.28 dollars a barrel, while the March delivery on Brent rose 0.53% to 82.18 dollars.

Spread clearly up over 140 points

Significant upward trend for the Btp / Bund spread. The yield differential between the ten-year Italian benchmark (IT0005436693) and the same German maturity is indicated at 144 basis points, up from the 139 basis points recorded at last Friday’s closing. There was also a sharp increase in the yield of the ten-year benchmark BTp which marked a first position at 1.41% from 1.32% at the previous close.

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