Another positive day for the European stock exchanges, in a climate that seems less tense than a few weeks ago. The possible moves of central banks remain in the foreground. The Fed’s beige book is awaited, while the member of the executive council of the ECB, Francois Villeroy de Galhau, explained that the guidance for increases of 50 basis points in rates offered by the president, Christine Lagarde, remains valid.
In the Eurozone, inflation confirmed its slowdown to 9.2% annually in December. The ECB could therefore consider smaller rate hikes than expected. The price of gas on the TTF in Amsterdam is rising again, above 60 euros per megawatt hour. Then the euro strengthens against the dollar. In Milan, the Ftse Mib rose by 0.27% and closed at 26,052.39. The spread between BTPs and German Bunds is decreasing, below 180 basis points. The yield on the ten-year bond then falls, to 3.7%.
Eni performed well on the main stock exchange in Piazza Affari (+0.61%). The six-legged dog has announced that subscriptions to the public subscription offer of the bonds of the “Eni bonds sustainability-linked 2023/2028” loan have exceeded the amount of one billion euros, after just over two days of the offer of the title. Tenaris (+4.15%), Saipem (+7.06%) and Bper (+3.30%) also rose.
On the other hand, Stellantis is negative (-0.65%). The Acea data on car registrations in the European Union today show an increase of 12.8%, but a decrease of 7% for the group. However, the EU Commission has given the green light to the joint venture between the automaker and Hon Hai Precision Industry (Taiwan) to produce semiconductors. Lastly, Campari (-1.93%), Intesa Sanpaolo (-0.49%) and Mediobanca (-1.12%) were down. (in collaboration with Money.it)
