A decidedly positive day for the European stock exchanges, which benefited from the positive macroeconomic data arriving from the United States. Fourth-quarter US GDP is higher than expected and jobless claims are lower than analysts’ estimates. The US gross domestic product rose by 2.9% on an annual basis, while the PCE inflation indicator, again in the fourth quarter, slowed down to 3.2%. Investors are once again investing in a possible easing of the Fed’s monetary tightening, in the face of steadily slowing price growth.
The price of oil is on the rise, with Brent and Wti both rising by more than 1.3%. On the other hand, gas at the TTF in Amsterdam is still below 60 euros per megawatt hour.
In Milan, the Ftse Mib gains 1.32% and closes at 26,217.56. The spread between BTPs and German Bunds is up, around 186 basis points. The yield on ten-year bonds also grew, around 3.99%. Bankers are doing well on the main list of Piazza Affari. Intesa Sanpaolo gains 2.07%, Unicredit 2.78% and Banco Bpm 2.09%.
However, the result of Stmicroelectronics stands out (+8.20%). The company has filed fourth quarter results. Net revenues grew 24% year over year and net income for the quarter was $1.248 billion, up 66%.
On the other hand, Campari (-2.81%), Erg (-1.48%), Hera (-0.51%), Inwit (-1.09%), Recordati (-1.10%) and Terna (-0.81%). (in collaboration with Money.it)
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