European markets in a bad mood at the end of the eighth, as well as Wall Street where the thud of JPMorgan weighs after the quarter. The Ftse Mib closes the trading day at 27,543 points, down 1.08%, thanks to the marked decline of big names such as Enel and Ferrari. From the macro disappointment of US retail sales, which in December recorded -1.9% in December (consensus was -0.1%), the strongest decline in ten months. Reading that suggests how the surge in inflation (+ 7% y / y) is having repercussions on consumer choices. Meanwhile, the start of the learning season on Wall Street saw JPMorgan report earnings down to $ 10.4bn in the fourth quarter, higher than analysts’ expectations, but the market did not like the weakness in trading revenues.
On the Piazza Affari parterre, sales on STM (-2.13%) which pays for the widespread weakness of technology. Worst performer of the day, however, was Ferrari with -3.87% in the 213.4 euro area. Moncler was also very bad at -3.6% and Iveco at -3.43%.
Enel is also under pressure today (-2.21% to € 6.807) in the wake of the negative newsflow linked to the bills puzzle. Investors look to the warning launched by the French EDF which quantified the impacts deriving from the exceptional measures taken by the French government for 2022, which include, among other things, a reallocation of the 2022 tariff hike for a period of 12 months. EDF has communicated a potential impact of around 8.4 billion euros at end-2021 prices and will consider actions to protect the balance sheet and cancel the debt guidance. In Italy, the fear is of possible government measures that will negatively impact the performance of energy stocks.
Focus on Generali (-1.52% to 18.44 euros) after Francesco Gaetano Caltagirone, Deputy Vice President and owner of about 8% of the share capital, announced his resignation from the Board of Directors, motivating his departure, recalling a context in the which his person would be `clearly opposed, prevented from making his own critical contribution and from ensuring adequate control`, referring to the working methods of the Board of Directors (including the presentation and approval of the strategic plan and the procedure for the presentation of a list from the Board). In the last few months, the board of directors of the Leone di Trieste has welcomed by a majority the availability of the CEO Donnet for a further mandate, while the pact members (Caltagirone, Del Vecchio and Fondazione CRT) ask for discontinuity on governance.
On the other hand, Leonardo was against the tide (+ 1.9% to 6.76 euros) after the announcement of contracts for E-scan radars for German and Spanish Eurofighter Typhoon aircraft for a value of over 260 million euros.