Beginning of the week with a minus sign for Piazza Affari. After an essentially positive first part of the day, the Ftse Mib closed at 27,353 points, down 0.96%. What is weighing is the new rise in 10-year Treasury yields, which today exceeded 1.8% for the first time since January 2020. Goldman Sachs analysts predict that the Federal Reserve will raise fed fund rates four times this year and will start reducing the budget sooner than expected. The rapid progress in the US labor market and the hawkish signals coming from the minutes of the Federal Open Market Committee of December 14-15 suggest a faster normalization “, asserts Goldman Sachs which has now added to the more anticipated increases in March, June and September. a 4th increase in the cost of money in December.
The sell-off pronounced on technology weighs on STM which drops 4.53% to 42.37 euros. Very bad at around -4% Intermpump. CEO Montipò fears the pandemic and the possible impacts on lockdowns rather than inflation, which can be managed with price increases. On the strategic target of 2 billion euros in sales, Montipò sees an achievable goal in 2023 compared to the consensus of turnover of 1.57 billion in 2021 and 1.85 billion in 2022. According to Equita analysts, the goal is within reach whereas there will most likely be further M&A.
Worst share of the day was Nexi with -4.77%. Among the worst also Diasorin with -4.33%. Among the Bper banks, a moderate rise (+ 0.34%) is being pulled awaiting developments on the Carige front with the latest rumors that speak of a relaunch of the offer by the Modenese bank.
Fall of 1.82% for Ferrari after the announcement of the new organizational structure aimed at making the company more ready to seize the next opportunities. “We want to push the boundaries further in all areas, using technology in a unique and Ferrari way,” said Benedetto Vigna, CEO of Ferrari.
The + 0.3% of Enel is positive, approaching 7 euros with Goldman Sachs indicating it as one of its favorite utilities for 2022. Meanwhile, the latest press indications see the government at work for further allocations of 3 billion euro to reduce the burden of rising bills. Analysts do not expect significant impacts for companies in the energy sector.
Leonardo also did well with + 1.86%. To give impetus to the title is the government’s decision to allocate 2 billion for the Tempest program, the new fighter-bomber launched in 2018 by Italy, the United Kingdom and Sweden. The amount allocated concerns the first phase of the program includes evaluation, analysis and preliminary planning.