(Il Sole 24 Ore Radiocor) – There is no respite on world markets which, after starting the year at a good pace, have begun to lose ground in the last few sessions in the wake of the hypothesis of a monetary tightening by the Fed, faster than expected, to counteract the inflation in the US. Goes on the jump in bond yields, with the 10-year Bund returning positive (+ 0.01%) for the first time since 2019 and the Treasury now back to pre-Covid levels and with sales continuing to hit tech stocks in particular. The yield of the Italian ten-year and, therefore, the BTp / Bund spread also rose.
The belief of traders is now that the Federal Reserve will raise interest rates at least four times in 2022. All this while concern remains high over the spread of Covid-19 and its effects on the economy, with Germany registering more than 100,000 new cases in 24 hours for the first time since the beginning of the pandemic, with 239 deaths.
Oil continues its upward race on geopolitical tensions, with the Brent which moves around 88 dollars a barrel, always close to the maximum since October 2014.
Tim still falls in Piazza Affari
Milan is no exception, where the FTSE MIB index is in the red with the continuous decline of Telecom Italia. In Milan there were also drops in Prysmian and Stmicroelectronics. The crude oil rush instead pushes Tenaris and Saipem. Weak Stellantis who on March 1 will lift the veil on the new long-term strategic plan, as well as Generali where the tension at the top remains, with the board of directors discussing the recent resignations of Caltagirone and Bardin, defining the reasons “unfounded and offensive”.
Tokyo in heavy decline (-2.3%) led by Sony and Toyota
Heavy session for the Tokyo Stock Exchange dragged by sales against the backdrop of persistent fears related to the future maneuvers of the US Federal Reserve to control inflation in the United States and the fall of major stocks such as Sony and Toyota. The Nikkei index of leading stocks closed down 2.8% to 27,467.23 points.Sony, the p producer of PlayStation video game consoles fell by 12.78% to 12,410 yen, the largest single-session drop in years. To weigh the announcement of its competitor Microsoft, of the project to acquire the famous publisher Activision-Blizzard for almost 69 billion dollars, a record transaction that threatens to threaten the Japanese giant in the sector. Toyota, for its part, fell by 4.97% with investors have taken very badly to abandon the goal of producing 9 million vehicles in the financial year 2021/22 which ends on March 31, due to the continuing shortage of semiconductors. The imminent return of health restrictions in fifteen departments in Japan in the face of the Omicron surge also weighed on investor morale.