The closure of the Milan Stock Exchange
Piazza Affari falls despite inflation in January, according to preliminary estimates it fell to 10% in January with a minimal change (+0.1%) compared to December. The FTSE index wears the “black shirt” of the session with a loss of 1.12% weighed down by income from banks and asset management, from Fineco (-4.8%) which pays for the rejection of Ubs to Bper (-4.4%). Among the few stocks to save Campari (+1.3%), Tim (+2.8%) with the Kkr fund which extended the validity of its offer on the network by one month, and Stellantis (+2.2%) after accounts defined «record» by the group.
FED MINUTES TONIGHT
At twenty Italian time, the minutes of the last meeting of the Federal Open Market Committee come out. Loretta Mester and James Bullard, two members of the monetary policy steering body, they let it be known a few days ago that they would have preferred to proceed with a fifty basis point increase in rates, rather than a twenty-five basis point increase, as was later decided.
It will therefore be important to understand how many thought like the two of them at that time. The macroeconomic data arrived nhe last few days have shown that the hold monetary policy has not significantly slowed down the expansive drive of the economy, so there is room to proceed without delay with significant increases in the cost of money.
THE DAY OF THE VERY HOT
The buyback starts. Buy. The stock closed at €7.5 (-0.53%)
Jefferies raises the target from 1.40 to 1.80 euros. Buy. Closing at €1.41 (-1.9%)
: Announces a 1.5 billion buyback. Buy Closing at €16.2 (+2.12%)
Spread up to 195 basis points, with the Italian 10-year yield at 4.48%. Istat announced that in January the consumer price index marked an increase of 0.1% on a monthly basis and +10% on an annual basis, from +11.6% in the previous month. The preliminary estimate was +10.1%. This was communicated by Istat underlining that inflation shows “a clear slowdown”.
Brent at $82.09 (-1.2%). Senior Chinese diplomat Wang Yi met with Russian President Vladimir Putin and pledged to strengthen cooperation between the two countries. This was announced by the Beijing Foreign Ministry. China is willing to work with Russia to build political confidence, expand cooperation and play a constructive role for both countries in promoting world peace and development, Wang told Putin.
Prices are back above 50 euros per megawatt hour. Futures are up 5% to 50.8 euro/mWh.
The euro closed down below $1.07 as investors banked on the greenback on expectations that the Fed maintains its aggressive monetary policy longer after the release of strong macro data on the US labor market and hotter-than-expected inflation data. The European currency changes hands