A little start for Piazza Affari, fresh from the underperformance of the eve of which saw the Ftse Mib close down, not following the rally on the new all-time highs of EU equities. Today the Ftse Mib index marks + 0.17% at 27,853 points after the first few minutes of trading.
Markets yesterday found backing in stronger-than-expected US retail sales growth. The strength of the US economy, however, is leading some traders to believe that the Federal Reserve may be encouraged to further reduce its support measures even in light of severe inflationary pressures. The numerous Fed interventions scheduled to be monitored today, including that of Bowman (voter), Mester (voter 2022) and Waller (voter).
Meanwhile, this morning new signs of overheating prices with UK inflation which went up to + 4.2% on an annual basis in October compared to + 3.1% in the past survey and 3.9% in the Bloomberg consensus. Indications fueling expectations for a BoE rate move next month, with EUR / GBP falling to a 20-month low.
Telecom Italia’s positive streak is confirmed in Piazza Affari (+ 1.3% to € 0.3424) with the rumors of the eve that spoke of a possible revision of the contract with Dazn to make it more profitable in light of the current results lower than expected . Among the hypotheses there would be a change to the revenue share, that is the share of revenues held by Telecom.
Moncler also rose (+ 0.2%) which yesterday closed on new all-time highs, benefiting from the good indications from Kering with the Gucci brand, which should close the year with revenues in line with the pre-pandemic levels of 2019 .
Among the minus signs Diasorin stands out with -0.92%. Half a percentage point drop for Atlantia and Nexi.