Uncertain session for European stock exchanges, while Wall Street shows little movement. Piazza Affari ends not far from parity, with the Ftse Mib almost unchanged (-0.01%) at 30,361 points.
Purchases in particular on Telecom Italia (+5.75%), after the news that the F2i infrastructure fund would be ready to set up a vehicle with KKR to invest around 1 billion euros in Tim’s fixed network. Iveco (+1.4%) and Inwit (+1.3%) also increased while A2a (-1.5%), Banco Bpm (-1.45%) and Bper (-1.2%) lost ground .
Wall Street remains cautious, after macro data that showed an improvement in consumer confidence in December and a recovery in home sales, while the shipping giant FedEx collapses on the stock market after recording profits below expectations. Now traders await tomorrow’s numbers on US GDP and Friday’s on core PCE, the Fed’s preferred measure of inflation.
Data on inflation from the United Kingdom were also released during the day, which slowed sharply in November (3.9% headline CPI, 5.1% core index).
The latter fueled a new decline in bond yields, with the US ten-year Treasury at 3.91%. The Bund yield fell below 2% for the first time in nine months, while that of the BTP stood at 3.6%, with a spread slightly rising to 162 basis points.
On Forex the euro/dollar remains at 1.097 and the dollar/yen is stable at 143.7 while the pound drops to 1.267 dollars in the wake of inflation.
Among raw materials, oil prices continue to gain ground, with Brent above $80 a barrel, supported by problems in the Red Sea, despite the increase in weekly US inventories.