EU stock exchanges become weak. Government bonds improve
Weak start to the session for European stocks as investors look favorably on the easing of protests in China and hope for a softening against Beijing’s ‘zero Covid’ policy. Paris loses 0.2%, Frankfurt 0.3% and Milan 0.4% while London advances by 0.4%. The markets, which receive the good data on inflation in Spain, down in November, and await the German one at 2 pm, are expecting confirmation from the Fed president tomorrow, Jerome Powell, on the possible slowdown of monetary tightening. Government bonds in the Eurozone are thus on the rise, with yields declining sharply and the BTP (-11 basis points to 3.78%) pulling the sprint, while the spread with the German Bund narrows by one point quota 189. Oil is running, in the wake of bets for a reopening of China and on the possibility that OPEC+ may proceed with new production cuts to support prices. Gas also rose sharply, with TTF futures in Amsterdam up 4.2% to 128.5 euros. In Piazza Affari Juventus reduces the declines (-3.1%) after the collapse of the startup in the wake of the resignation of the board, while Amplifon (-2.4%), Unicredit (-2.3%) slip on the main list and Tim (-2.1%), with the government taking time until the end of the year to develop a solution for the single grid. Sales also on Ferrari (-1.6%), which announced the divorce from its team principal Mattia Binotto. On the other hand, Erg (+1.8%), making its debut on the Ftse Mib, Saipem (+1.3%) and Tenaris (+0.9%) did well.