Home Business Weak day for Piazza Affari (-0.4%), Tim closes at +4.6% with rumors on the network

Weak day for Piazza Affari (-0.4%), Tim closes at +4.6% with rumors on the network

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Weak day for Piazza Affari (-0.4%), Tim closes at +4.6% with rumors on the network

An uncertain session for the European stock exchanges, awaiting this week’s key appointments with the central banks. In Piazza Affari, the Ftse Mib closed down by 0.4% to 26,335 points.

Among the most capitalized companies, Telecom Italia stands out (+4.6%) in the wake of rumors according to which CDP could present an offer for the fixed network of around 24 billion euros in the second half of February. Recordati (+1.2%) and Saipem (+1.2%) also rose, while Diasorin (-3.2%), Interpump (-2.2%) and Hera (-2.1%) fell back. Little move Unicredit (+0.2%), which tomorrow will present the results of the fourth quarter.

On bonds, the Btp-Bund spread widens to 187 basis points, with the Italian ten-year yield rising to 4.18%. Euro/dollar slightly moved in the 1.086 area while oil trades slightly down with Brent slightly below 86 dollars a barrel.

The data on German GDP for the fourth quarter of 2022 was released during the day, down by 0.2% and below analysts’ expectations. Spanish consumer prices were also worse than expected, accelerating to 5.8% per annum in January.

Numbers that fuel pressure on the ECB, ahead of Thursday’s meeting, the day after the eurozone inflation data. Discounting a rate hike of 50 basis points, traders will focus on the tone of President Lagarde and on indications regarding the next adjustments and quantitative tightening.

The Bank of England will also meet on the same day, while on Wednesday the Fed will raise rates by 25 basis points, further slowing the pace of monetary tightening. Again, focus on the words of Jerome Powell, who so far has always rejected the hypothesis of a rate cut by the end of this year.

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The quarterly season should also be followed, which foresees the accounts of giants such as Apple, Amazon and Alphabet in the coming days, while data on the American job market will be released on Friday.

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