Positive session for the European stock exchanges, despite the weakness of Wall Street. In Piazza Affari, the Ftse Mib closes trades up by 1.15% to 24,436 points, with Pirelli (+4.5%) on the comeback, thanks to the positive data on December car registrations in Italy. Money also on Unicredit (+3.45%), Enel (+2.5%) and Intesa Sanpaolo (+2.3%), down instead Tenaris (-3.45%), Leonardo (-0.6% ) and Moncler (-0.5%).
On bonds, the Btp-Bund spread remains little moved at 209 basis points, with the Italian 10-year yield down to 4.46%.
German data on the labor market and inflation were released during the day, which respectively highlighted an unexpected drop in the number of unemployed (-13,000) and a slowdown to 8.6% per annum.
In the USA, on the other hand, the manufacturing PMI recorded a sharp slowdown to 46.2 points in December, signaling a deterioration of the sector at the fastest pace since May 2020. A dynamic that held back American stock markets after a positive start, upon reopening after the new year festivities.
Also noteworthy is the fifth consecutive slowdown in the Chinese Caixin manufacturing PMI (49 points in December from 49.4 in November), while operators continue to monitor the trend of Covid, in view of the Lunar New Year holidays which will lead to a sharp increase travel, increasing the risk of contagion.
Over the next few days, the focus will shift predominantly to the Federal Reserve Minutes (Wednesday), the US Job Report and Eurozone Inflation (both out on Friday).
Euro/dollar exchange rate down to 1.055, oil down with Brent at 83.2 dollars while natural gas in Europe drops again to 71.5 euro/MWh, thanks to mild temperatures which are holding back demand.