Home Business Start up for Piazza Affari, Tim flies (+11.7%) with KKR offer for the network

Start up for Piazza Affari, Tim flies (+11.7%) with KKR offer for the network

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Start up for Piazza Affari, Tim flies (+11.7%) with KKR offer for the network

Positive start for the European stock exchanges and for Piazza Affari, in the aftermath of the Fed meeting and waiting for the ECB.

The Ftse Mib trades up 0.6% to 26,860 points, with Telecom Italia (+11.7%) at the top after receiving a non-binding offer from KKR to purchase a stake in Netco, the company to be incorporated coinciding with the managerial and infrastructural perimeter of the fixed network. Money also on Stm (+2.6%), Nexi (+2.5%) and Amplifon (+2.2%), while the oil companies Eni (-0.75%), Saipem (-0.8%) ) and Tenaris (-1.4%).

On the bond front, the Btp-Bund spread stands at 188 basis points. On Forex, the euro/dollar is back above 1.1 for the first time since April, while among raw materials, oil has lost ground, with Brent at 83 dollars a barrel, after the increase in US inventories that emerged yesterday from EIA data.

Positive closing yesterday for Wall Street, after the Fed meeting which raised rates by 25 basis points. Chairman Jerome Powell said there would still be a couple of hikes to counter inflation, but he also opened to a review of plans in case price pressures ease fast. The chairman acknowledged that the US economy is now in a “disinflation” phase, while stressing that more data will be needed to declare victory.

The resolutions of the ECB and the BoE are expected today, which will raise rates by 50 basis points. In this case too, attention will be paid to the tone of the statements, in order to capture signals on future monetary policy moves.

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The US data on weekly unemployment claims, factory orders and durable goods are expected from the macro agenda, while the January job report will be published tomorrow. On the quarterly front, the accounts of Meta have been released, which takes off in the after market (+20%) after reporting better than expected revenues during the holiday quarter.

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