Piazza Affari and the European Stock Exchanges on the rise
Business Square and the other exchanges closed well. Paris advances 1.1%%, Frankfurt by 0.58%. Madrid +0,98%. Milano it closed at +0.63%, satisfied with the scenario drawn up by the EU, according to which the recession is not the central scenario, awaiting the data on US inflation tomorrow.
The index MSCI ACWI (acronym for All Country World Index), which summarizes the snapshot of global stock exchanges, records a gain of +6.90% since the beginning of 2023. January ended with a gain of +7.10%, to find something better you have to go back as of January 2019.
The optimism of the Monetary Fund
Speaking at the World Government Summitthe director of the International Monetary Fund (IMF), Kristalina Georgievasaid financial markets have good reason to be more optimistic, noting that the US economy could avoid recession and recalling that the Chinese has reopened its activities after the restrictions against the pandemic.
Positive factors include the resilience of the labor market in the United States and the European Union, the reopening of China and “inflation which has finally come down, even if the battle is not yet won”.
Europe avoids recession
The EU Commission raised its 2023 Eurozone growth forecast to +0.9%, versus +0.6% previously expected. 2024 is seen at +1.5%. Inflation projections reduced, expected at +5.6% in 2023 for the Eurozone and at +2.5% in 2024. The autumn forecasts indicated +6.1% in 2023 and +2.6% in the 2024.
THE DAY OF THE VERY HOT
ARISTON
Goldman Sachs initiates hedging with a BUY e target a 11,50 euro. It closed at 9.85, +5.86%.
UNICREDIT
For Websim it is the preferred and confirmed to BUY, the target rises from 18 to 23 euros. It closed at €18.68, -0.33%.
TOP BANKS ACCORDING TO HSBC
The index Stoxx Banks it moves moderately up, on the highs of the last 12 months, after completing the fifth positive week of the last six last Friday. The sector reinforces its tendency to outperform the global index: since the beginning of the year it has grown by +16.50% vs +8.0% of the Stoxx 600 index. This morning, analysts from HSBC they adjusted the target prices of the main Italian banks upwards.
BPER
Target price da 3,10 a 3,70 euroBuy confirmed.
MEDIOBANCA
From 10.20 to 11.20 eurosHold confirmed.
BSTILL BPM
From 4.15 to 4.95 euros, Buy confirmed.
INTESA
From 3.0 to 3.20 eurosBuy confirmed.
UNICREDIT
Da 18 a 23 euro, Buy confirmed.
Savings management
BHIP GENERAL
From 34.0 to 37.0 eurosHold confirmed.
FINECO
And 17,60 a 19,30 euroBuy confirmed.
BANCA MEDILANUM
And 10,20 a 11,50 euro, Buy confirmed.
BONDS
The spread was slightly moved at 182 points below Friday’s closing of 183, after a momentary high at 185. The yield of the reference BTP (Isin IT0005518128) came down down the yield, to 4.184%, compared to the previous 4.22%.
ENERGIA
PETROLIUM
Down againBrent loses about 0.5%.
GAS
4% cove, on the lows since December 2021. Since January 1, it has lost -32%.
CURRENCIES
The euro comes back to 1.071 on the dollar.
ORO
A $1,855, -0,5%.