Slow start for Milan and the other European stock exchanges, after the positive closure of Wall Street and the colorless session in Tokyo. Squares in mainland China are still closed for the Lunar New Year holiday.
The Ftse Mib travels just below parity (-0.06%) in the area of 26,200 points. Purchases on CNH (+2.1%), on which Berenberg started coverage with a Buy rating, saying the prospects for demand are solid and that the company is well positioned to capitalize on post-Covid trends. Buzzi Unicem (+1.7%) and Tenaris (+1%) also did well, while Tim fell back (-1.1%) and partial sales were triggered on Stm (-0.9%).
On bonds, the Btp-Bund spread widens slightly to 182 basis points, with the Italian ten-year yield rising to 4.07%.
Euro/dollar in the 1.087 area while oil trades slightly with Brent slightly above 87 dollars a barrel.
The above-expected data on Tokyo inflation, the highest since 1981, has come from the macro agenda, putting pressure on the BoJ to abandon its accommodating monetary policy. Scheduled for today are the US reports on personal income and consumption and the University of Michigan sentiment index.