Weekly turning point without jolts for Piazza Affari, returning from the underperformance of the eve. The Ftse Mib index thus closed at + 0.07% at 27,824 points. Global equities struggled a bit today with the re-emergence of concerns that inflation could pose a challenge to economic recovery, forcing central banks to hike rates earlier than expected. In the morning, a cold shower came from across the Channel with inflation jumped more than expected in October (+ 4.2% to 10-year highs) fueling expectations of a monetary tightening by the Boe next month. Eurostat, on the other hand, confirmed the jump to a 13-year peak in euro area inflation in October (+ 4.1%).
From overseas, weak indications from the real estate market, with the data that measures the start of new construction sites which unexpectedly dropped in October, also thanks to the crisis in the supply chain. The numerous Fed interventions scheduled to be monitored today, including that of Bowman (voter), Mester (voter 2022) and Waller (voter).
Telecom Italia’s positive streak is confirmed in Piazza Affari (+ 0.18% to € 0.3386) with the rumors of the eve that spoke of a possible revision of the contract with Dazn to make it more profitable in light of the current results lower than expected . Among the hypotheses there would be a change to the revenue share, that is the share of revenues held by Telecom.
The best title of the day was Ferrari with + 3.24% at 236.1 euros (new all-time highs), finding support in the desire for M&A in the luxury car sector with rumors of interest for McLaren by Audi and BMW, rumors denied from the British house. Bloomberg also reported today the possibility of Audi exploring the possibility of deals with McLaren to enter Formula 1 racing and promote its electric car technology.
Instead, Moncler retraces (-0.17%) which in the morning had reached new all-time highs over € 70, further approaching the top 10 of the companies with the largest capitalization in Piazza Affari.
Among the minus signs, Nexi stands out with -4.6 per cent. Also bad was Diasorin with over -4% and Tenaris dropped by 2.1%.