Piazza Affari volatile in the aftermath of the Fed. After a weak start, dominated by fears of a more aggressive Fed in rate hikes, the Ftse Mib recovered, closing with a sharp rise (+ 0.99% to 26,882 points) below the check of good macro feedback from overseas. In particular, the US GDP surprised positively with + 6.9% in the fourth quarter, closing 2021 at + 5.7% (best year since 1984).
Returning to the Fed, the market focused on the words of Jerome Powell who did not rule out the possibility of a series of non-stop tightening over the course of 2022. “I have a strong feeling that we can raise rates without jeopardizing employment – Powell said – There is a lot of room to raise rates without damaging the job market. ” Expectations of a proactive Fed pushed higher US Treasury yields as the dollar strengthened.
In Piazza Affari today the banks are in tune (+ 1.87% Intesa and + 0.88% Unicredit) waiting for Unicredit to open the quarterly season tomorrow. Sponda came from the numbers beyond expectations released by Deutsche Bank, with a quadrupled profit in 20212, return of the dividend and the start of a buyback of 300 million euros.
Among the best of the Ftse Mib stand out the two big ones Enel and ENi, both climbed by about 2%. STM is also doing well today (+ 1.93% at 40.61 euros) which closed the fourth quarter of 2021 with revenues of 3.56 billion dollars (+ 9.9%), above the guidance which was 3.4 billion. . STM for 2022 estimates revenues between $ 14.8 billion and $ 15.3 billion. The quarterly net profit is 750 million dollars (+ 30.2%).
Stellantis is also positive (+ 0.79% to € 17.54) which aims to increase its shareholding in GAC-Stellantis from 50% to 75%.
Leonardo also did well (+ 1, xxx%) who specified that no formal decision was made on the enhancement of Drs, thus responding to press rumors about a potential sale of a Leonardo Drs business line.
Finally, among the stocks lagging behind, Telecom Italia stands out (-0.37%) with the new CEO Pietro Labriola who obtained the mandate from the board to explore strategic options aimed at maximizing the creation of value for shareholders. As regards the KKR proposal, the board reports that the ad hoc committee is continuing its work to analyze the proposal and compare it with the group’s perspectives and with the strategic options under consideration.