The Milan Stock Exchange rises driven by Saipem and by the banks
The Milan Stock Exchange is the best in Europe with an increase of 0.36% to 27,118 points. Little moved the others. The markets await the moves of the central banks given the doubts about the economic prospects of the main countries. In Berlin, industrial production in December fell more than estimated. According to the president of the Bundesbank, the “hawk” Joachim Nagel, more “significant” rate hikes are needed. The focus in Europe is on the new common anti-inflation fund and the new rules on state aid to deal with the US support plan. The discussion between the 27 becomes bitter, with Germany and France seeking mediation
Two titles in particular are highlighted: SAIPEM +5% flies to the tops since July, new push graphic signals.
FINECO +2% came close to the historic highs of 17.29 euros, after the excellent quarterly performance. In the finale it slows down to 16.85 euros.
THE DAY OF THE VERY HOT
ITALGAS
Rbc raise the judgment a Interesting. tp at 7.5€. It closed at €5.63 up 1.26%
PIRELLI:
Pis Goldman Sachs subtraction SELL, Ila closed at 4,6€ down from €2.33
SNAM
Rbc lifts the judgment a Interesting with Tp 5.5 and 6.5 euros. It closed at €4.78, up €0.63
BOND
Closing up for the spread to 188 points from 186. The yield of the 10-year benchmark BTP (Isin IT0005518128) al 4,18% dal 4,13%
ENERGIA
PETROLIUM
Rising prices for oil contracts. Brent increased by 1.4% to 82.12 dollars a barrel.
GAS
Prices down by 6.2% to 54.5 euros al megawattora.
CURRENCIES
The euro goes down at 1.0690 against the dollar.
ORO
at $1,873, +0.3%. Ned Naylor-Leyland, Gold & Silver investment manager at Jupiter AM says “gold is apolitical money and a real store of value, unlike government-issued currencies”. Last year, annual gold demand increased by 18% to 4,741 tons. “This sharp increase was fueled by both a dramatic increase in coins and bullion (retail buyers started to think like central bankers) and the official sector (central banks and sovereign wealth funds) which bought 1,135 tonnes – the amount largest official central bank purchases since 1967,” Naylor-Leyland continues. “It is clear that central banks are now reluctant to hoard more dollars and that the existential battle for the status of globally risk-free is moving back to gold, as agreed at Bretton Woods in 1944.”