Colorless session for European stock exchanges. I’m still looking for ideas to take a specific direction after the end-of-year rally. Above all, I am awaiting the data on US inflation scheduled for tomorrow, which will allow us to understand more about the central banks’ next moves. Europe therefore closes weak. Milan, on the other hand, showed a slight increase (+0.14%) thanks to the stability of the banks and industrialists.
Campari drunk with Courvoisier
Campari slipped (-6.53% to 9.278 euros), which aligned with the price of the shares placed for the capital increase intended for the acquisition of the Courvoisier cognac house. Also decreasing, Terna -1.7%, Snam -1%, Telecom -1.7% On the rise: FinecoBank +2.3%, closes 2023 with net collections of 8.79 billion euros, 1.2 billion in December. Iveco +2.3%, Ferrari +1%, Azimut +1%.
The ECB will not lower rates
On the ECB front, Isabel Schnabel, member of the governing council, confirmed that rates will have to remain at sufficiently restrictive levels “for as long as necessary to ensure that inflation returns sustainably to 2%”. The rally has moderated but underlying price pressures remain high. On the currency market, the weakness of the dollar continues with the euro rising to 1.0954 (1.0927 at the close yesterday) against the greenback. The single currency is also indicated at 159.753 yen (from 158.45 yen), while the dollar/yen ratio is at 145.7 (144.36). The price of oil is slowing down with US inventories rising beyond expectations: the February future on the WTI loses 0.25% to 72.06 dollars while Brent for March delivery loses 0.43% to 77.25 dollars. The price of natural gas on the Amsterdam TTF platform increased by 1.4% to 31.075 euros per megawatt hour
The article Piazza Affari ends flat. Wait for US inflation comes from Truth and Business.