Fluctuating end of the week for Piazza Affari that at the end with the markets that welcomed the unexpected slowdown in the US labor market without worries. Job shortages continue to persist overseas and only 210,000 new jobs were created in November, less than half what analysts predicted and the lowest pace since late 2020. Wall Street’s bullish reaction can be interpreted. from the possible effect that this slowdown can have on the Fed, which may decide not to press too hard on the accelerator in its tapering path.
Meanwhile, the Omicron issue remains in the background. The new Covid variant continues to grow in South Africa with hospitalizations in Gauteng on a worrying increase. We will have to wait for the next few weeks to understand how dangerous this variant is.
At the end of the day, the Ftse Mib scores -0.26% in the area of 25,938 points. Oil stocks did well (+ 0.59% ENI and + 0.29% Tenaris) in the wake of the strength of post-Opec + oil. Among the banks only Unicredit did well with + 1.09% pending the new business plan coming next week.
Among the minus signs, Enel (-0.97%) and Stellantis (-1.16%) stand out. Leonardo is down (-0.15%) despite the latest rumors that KMW + Nexter Defense Systems (KNDS) is close to making a binding offer of 650 million euros for Leonardo’s subsidiaries, Oto Melara and Wass, in a move which could strengthen the consortium’s position in the land defense sector.
Finally, among the worst TIM (-2.2% to € 0.4644) with the Minister of Economic Development Giancarlo Giorgetti who pointed out that at the moment the KKR proposal is a mere non-binding expression of interest, not accompanied by formal and that therefore it is premature to evaluate the possible exercise of the golden power.