MILANO – Positive closure in Asia and cautious openings in Europe, with positive futures on the United States, after the weakness on the eve and awaiting Jerome Powell’s words which could shed further light on the Fed’s next moves. After two days of strong bets on the fact that the US central bank will be forced to keep the bar straight on rates – in light of the strong US jobs report on Friday – today the dollar has returned to yield ground and yields on Treasuries have also cooled. Movements that had arrived in the middle of the best start of the year since 1987 now.
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Baidu will launch its own ChatGpt: fly to Hong Kong
Stellantis changes trading symbols on Euronext
Starting Monday before the opening of the stock markets, the trading symbols of Stellantis ordinary shares listed on Euronext will change. For the former Borsa Italiana (MTA) in Milan, the symbol will become ‘Stlam’ and the Euronext Paris price list in Paris will become ‘Stlap’. This was communicated in a note which explains that “following the migration of Borsa Italiana markets to the Euronext trading platform, it was necessary to create two distinct trading symbols since the two order books will now be traded in the same environment” The trading symbol ‘Stla’ for the New York Stock Exchange will remain unchanged.
Stock exchanges, cautious openings in Europe
Weak and cautious opening for European stocks ahead of today’s speech by Fed Governor Jerome Powell. In the first trades in Frankfurt the Dax scores +0.07% to 15,356.15 points, in London the FTSE 100 rises by 0.16% to 7,145.68 points, in Paris the Cac 40 rises by 0.12% to 7,183 .87 points, in Madrid the Ibex-35 is flat at +0.05% at 9,163.79 points. In Milan, the Ftse Mib gains +0.24%.
Baidu will launch its own ChatGpt: fly to Hong Kong
Baidu is also entering the race for artificial intelligence services. In Hong Kong, its shares soared more than 13% after the Chinese company announced it will complete an internal test of a ChatGpt-like product in March.
Rising oil prices, suspended a terminal in Turkey
Oil prices edged higher in Asian markets, with WTI and Brent crude futures rising for second consecutive sessions on supply concerns and optimism about a recovery in Chinese demand. A barrel of Brent is traded at 82 dollars (+1.25%) and one of Wti at 75.18 dollars (+1.45%). Operations at Ceyhan Oil Terminal in southern Turkey, which can export up to 1 million barrels of crude oil a day, have been suspended as a precaution after a major earthquake hit the region.
Flat Tokyo
Japan’s Nikkei index closed flat on unchanged amid continued uncertainty over the path of monetary policy in the country, as media reports fueled speculation about the next Bank of Japan governor. According to information from the Japanese business newspaper Nikkei, the deputy governor of the Boj, Masayoshi Amamiya, would have been “contacted” by the government to succeed the current governor Haruhiko Kuroda, whose second and last term expires in early April. The Nikkei closed by 0.03% to 27,685.47 points, while the Topix advanced 0.21% to 1,983.40 points.
Asia closes positive, looking at central banks
Asian stocks close moderately higher as we look to the next steps of the central banks. Investors are awaiting Federal Reserve Chairman Jerome Powell’s speech at the Economic Club of Washington. Also in the spotlight are geopolitical tensions and the trend in gas and oil prices. Flat closing for Tokyo (-0.03%). On the exchange rate front, the yen weakened against the dollar, trading at a one-month low, at 132.10, and slightly below at 142 against the euro. While negotiations are still ongoing, Hong Kong and Seoul are up (+0.5%), Shanghai and Shenzhen (+0.2%), while Mumbai is down (-0.2%). On the macroeconomic front, industrial production is arriving from Germany and the trade balance from France. From the United States, the weekly change in oil inventories (API) and the trade balance are expected.