Of Andrea Fontana e Stefania Arcudi
In Piazza Affari, all eyes are on the possibility of selling 4% of Eni. Oil and gas prices on the rise. Euro below 1.09 dollars. Spread slightly down to 156 points, ten-year yield down
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(Il Sole 24 Ore Radiocor) – Le European stock exchanges they open higher in the wake of the positive performance of Wall Street (+0.88% the S&P500) and two significant macroeconomic data in view of the central banks’ moves: the slowdown in inflation in Japan in December (2.3%) which should lead the Bank of Japan to confirm its accommodative rate policy; the sharp decline in UK retail sales in December (-3.2% compared to November) which will have to be taken into account by the Bank of England even if inflation rebounded in December.
So I’m in positive territory FTSE MIB of Milan, the CAC 40 of Paris, the DAX 40 of Frankfurt, theIBEX 35 in Madrid, l’AEX of Amsterdam and the FT-SE 100 from London. Up to this moment the week of the price lists has been rather anonymous (-0.6% the Eurostoxx and -0.4% Milan).
Focus on Eni, the banking risk and the Tim dossier
In Piazza Affari the focus is on the privatizations being studied by the Italian government and in particular on the possibility that in the spring the Ministry of Finance could sell a package of 4% of Eni . The banking risk – after the rumors from Il Sole 24 Ore about the interest of some institutions in the Banca Popolare di Sondrio -, the governance node of Telecom Italia and the dossier Rai Way after the industrial plan of the parent company Rai, these are the issues at the center of operators’ attention.
Spread slightly down to 156 points, ten-year yield down
Slightly declining trend for the spread between BTp and Bund. The yield differential between the benchmark ten-year BTp (Isin IT0005560948) and the German equivalent maturity stood at 156 points, one less than the 157 points at the closing date the day before. The yield of the benchmark ten-year BTp also fell slightly, marking a first position at 3.89% from the 3.90% recorded at the closing on Thursday.
Euro below 1.09 dollars, oil and gas prices on the rise
On the currency market, the exchange rate between the euro and the dollar remains below 1.09 (1.0879 from 1.0863 on Thursday evening). The British pound retreated slightly below $1.27 following the retail sales data. The data suggests that the British economy is “certainly not out of danger”, explain the experts at Wealth Club.
Oil prices stable at 79 dollars a barrel for the March Brent contract and at 74 for the February WTI. Rebound for gas (+3%) traded at 28.8 euros per megawatt hour in Amsterdam.
Tokyo rebounds and returns to 1990 highs
After three sessions of decline, the Tokyo stock market rebounded, reaching its highest level since 1990. The financial center rose significantly thanks to support from the weakness of the yen, a factor that helps the stocks of large exporting companies. The technological sector, in particular, was supported by the performance of the New York Nasdaq, recorded the day before. In Tokyo, the flagship Nikkei index gained 1.4% to 35,963.27 points, its highest point in 34 years. For the entire week the gain was 1 percent. The broader Topix index appreciated 0.72% to 2,510.03 points.
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Stefania Arcudi
Radiocor editor
Andrea Fontana
Radiocor editor