MILANO – 12:45 pm. Western lists are trying to catch up after the black Friday sparked by fear for the Omicron variant, while strong sales have been staged in Asia.
The tension is easing and this is also witnessed by the rise in yields on American government bonds, which means (given that they move in reverse) a fall in prices, after the appreciation on Friday linked to the shift of investments towards safe-haven assets . Halfway through the session, the European lists recover a bit of verve, even if the variations are such that we can think of only apparently healing the gap of the latest seduction: Milano – which had lost 4.6% on Friday – marks a gain of 1.18%. The others are online: Frankfurt +0,86%, Paris salt of 1.26% e London dell’1,23%.
Unicredit analysts, in their morning note, note that over the weekend the reports of new cases have multiplied, but also the statements of health experts who have indicated that the symptoms and effects do not seem particularly different from those experienced so far. The Israeli shares, active on Sunday, have in fact recovered half of the losses. On Piazza Affari there is Tim’s weakness at the reopening after Gubitosi’s exit and pending developments on the Kkr front. Juventus under investigation for capital gains collapses, while Unicredit benefits from the sale of 2.2 billion of non-performing loans to Olympia.
Tim, JP Morgan alongside Kkr to finance the takeover bid. Consob in the field
by Giovanni Pons
Meanwhile, signs of recovery are coming from the energy sector, in particular from Petroleum that in the last session of the last week had suffered losses in double figures percentage. As regards crude oil, the OPEC + meeting on Thursday is expected, which should update the cartel’s production levels after the move by the US and other countries to free up reserves. After sinking to -13% in Friday’s session, Brent futures are up nearly 5% today and are trading at $ 76.2 a barrel mid-day. Similar change for the WTI, which is approaching 72 dollars.
Asian stock exchanges traded again negative after the news of the new Omicron variant of Covid-19. In Asia, sentiment remains negative, although not as in the session last Friday, when the hot reaction to the new South African variant sparked panic around the world. The Nikkei 225 index of the stock exchange Tokyo closed the session down 1.63% to 28,283.92 points. The Shanghai Composite closed at a par at 3,562.70 points while the Hang Seng index of Hong Kong lost 1% to 23,852.24 points. The Kospi index of Alone it lost 0.92% to 2,909.32 points, hitting a 2-month low.
Better signals can be seen on Wall Street. Dow Jones futures are up around 250 points after the index suffered its worst session since October 2020, plummeting 905 points (-2.5%). The S&P and Nasdaq slipped 2.3% and 2.2% respectively.
Among the currencies theeuro it is down to 1.1279 dollars (-0.34%) and to 127.6 against the yen (-0.54%). The spread between BTP and Bund was stable at 131 basis points, unchanged compared to last Friday’s closing. There was a slight increase in the yield of the ten-year tricolor, which stood at 0.99%, from 0.98% of the reference on the eve of the day. The president of the ECB, Christine Lagarde, has returned to reassure inflation by saying that “we are almost sure” that the phenomenon will disappear, given that it is linked to temporary factors. In the US, the president of the Fed in Atlanta Raphael Bostic has scaled down the economic risks from the new variant and said that rather he is ready to accelerate the cut in purchases of stocks to compact the price run.
The macroeconomic agenda signals concerns about the shortage of materials in German production which has deteriorated considerably. In November, 74.4 percent of companies complained of bottlenecks and supply problems with intermediate products and raw materials. This is 4 percentage points higher than in October, as revealed by an Ifo Institute survey. “The pressures have not diminished as hoped,” says Klaus Wohlrabe, head of the ifo investigation. “There is no end in sight of the manufacturing bottleneck recession.” Inflation is expected for today, which for analysts should mark an annual growth of 5.4% at the highest level since the beginning of the 1992 series. Istat instead launches yet another price alerts: in October those for industrial production increased by 7.1% on a monthly basis and by 20.4% on an annual basis. “The strong rise in prices” is driven “by the increases in the prices of energy products, particularly marked on the domestic market, where there are exceptional increases in electricity and gas”. “Even the decisive acceleration on an annual basis (+ 20.4%, from + 13.3% in September) – explains Istat – is largely due to the energy component; net of the latter, production prices industry grow by 0.5% on a monthly basis and 7.9% on an annual basis “.