MILANO – 2.45 pm. Mid-day trading on European markets weakens with uncertain futures for Wall Street. The eyes are still on the decisions that governments will take to counter the resurgence of the pandemic. On the macro data front, disappointment was recorded by the Ifo index which measures the confidence of German companies (which fell to 96.5 points in November, more than estimates) and the quarterly growth of 2.1% of the US GDP, also in this case below the expectations which were + 2.2% (but still above + 2% of the previous reading). It should be noted, however, that at the same time requests for unemployment benefits fell to 199 thousand in the last week, the best figure since the beginning of the pandemic.
In the Old Continent, Milano clears the gains (-0.1%) of the opening, London salt by 0.1%, Paris turns red by 0.4% e Frankfurt 0.7%.
Conflicting signals also came from the Asian stock exchanges: the focus of investors’ attention were fears related to inflation and expectations of a tighter monetary policy by the Fed. Tokyo closed 1.58% lower at 29,302.66 points. Bad also the bag of Seoul -0.14% while Hong Kong advances by 0.6% e Shanghai fa +0.17%.
Piazza Affari: here is the Enel plan, focus on Tim
In Piazza Affari, eyes always focused on Tim, which fell yesterday after Vivendi clarified that he does not want to sell his stake and therefore makes the takeover bid proposed by Kkr complicated. Today the stock moves sharply up again. But also onEnel, cautiously rising (follow) after it presented the new industrial plan: it plans to mobilize investments for a total of 210 billion euros between 2021 and 2030, of which 170 billion invested directly by the Enel Group (+ 6% compared to the previous plan ) and 40 billion euros catalysed by third parties. The number one spoke of “great turning point”, Francesco Starace presenting a coupon policy that provides for a fixed dividend per share (“Dps”) which is expected to grow by 13% from 2021 to 2024, reaching € 0.43 / share. The group then anticipates its ‘Net Zero’ commitment by 10 years, from 2050 to 2040, both for direct and indirect emissions, forecasts a gross operating margin (ebitda) between 18.7 and 19.3 billion in 2021 until at 21-21.6 in 2024. Profit in 2021 is expected to be 5.4-5.6 billion up to 6.7-6.9 in 2024.
Finally, great attention is paid to the Petroleum which travels higher on Asian markets awaiting data on crude oil inventories in the US. Yesterday the United States announced that it will release millions of barrels of oil from strategic reserves in coordination with China, India, South Korea, Japan and Great Britain, to cool energy prices. Just today, Beijing confirmed that it will draw on its reserves to bring down the prices of black gold. “There China will draw on its national oil reserves and will take other necessary measures to maintain market stability, according to its current needs and conditions, “Chinese Foreign Ministry spokesman Zhao Lijian told reporters. But the market fears it will become a boomerang with an OPEC response. . In fact, oil prices drop only slightly, after having risen on the eve, and futures on WTI crude oil drop 0.29% to 78.27 dollars a barrel while those on Brent fall by 0.44% to 81.95 dollars a barrel.
The judgment of Financial Times at this point it is clear: the plan of the president of the United States fails, Joe Biden, to tame the price of oil with the release of 50 million barrels from US reserves. This is what the City newspaper expresses in the aftermath of America’s decision to release millions of barrels of oil from strategic reserves in coordination with China, India, South Korea, Japan and Great Britain, to cool energy prices. Indeed, the risk is that the initiative could be counterproductive. After many appeals to OPEC + to increase the offer, Joe Biden has decided to go it alone, explaining that this move will help reduce the problem of expensive gasoline. Yesterday Biden also accused the US oil giants: “Companies are paying less, but they are earning a lot more. And this is unacceptable.”
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