Piazza Affari fails to rebound, at the top of Stm after the quarterly report

Change of course for Piazza Affari after a positive opening with the Ftse Mib index which closed the last session of the week down by 0.13% to 27,618.47 points. The December US employment report confirmed operators’ fears about the risk of a continuing flare-up in US inflation, indicating, among other things, growth in new jobs by about half compared to consensus forecasts. In fact, just 199,000 new jobs were created in December.
The parameter included in the employment report, which measures the inflation trend, is worrying: that of hourly wages which, on average and on an annual basis, have jumped by 4.7%, to the record of recent decades and over + 4.2% estimated by consensus. On a monthly basis, growth was + 0.6%, over the expected + 0.4%. The wage trend rekindles fears about a more hawkish Fed, a dominant theme in this first week of trading in the new year, which has destroyed the first earnings of 2022 reported by Wall Street.
In Italy, the new 30-year BTP benchmark (maturity 1 September 2052 and annual coupon of 2.15%) received a total demand of approximately 55.9 billion euros, or almost 8 times the 7 billion euros allocated . On the macro side, Istat announces that in the third quarter of 2021 the net debt of public administrations (PA) in relation to GDP was equal to -6.2% from -9.8% in the same quarter of 2020. Still Istat announces that in the third quarter of 2021 the disposable income of consumer households increased by 1.8% compared to the previous quarter, while consumption grew by 3.6%.
Returning to Piazza Affari, the + 3.7% of STM stands out among the individual stocks of the Ftse Mib, which released preliminary data for the 4th quarter of 2021, which marks net revenues of 3.56 billion dollars, an increase of 11 , 2% on a sequential basis and 140 basis points above the highest value of the forecast range released last October. “We ended Q4 2021 with net revenues above the forecast range and gross margin at or slightly above forecast, mainly thanks to better-than-expected operations in a market that continues to be dynamic.” commented Jean-Marc Chery, President & CEO of STMicroelectronics.
Banco Bpm (+ 2.4%), Banca Mediolanum (1.8%) and Azimut (+ 1.2%) also performed well. On the other hand, Nexi (-3.1%), Campari (-2.9%) and Moncler (-2.5%) suffer.