(Il Sole 24 Ore Radiocor) – In the first session of the octave i European stock exchanges move in the name of weakness, after the rises in last week and after the Christmas break (on 24 December many European squares, including Milan, were closed): the very rapid rise of Omicron variant infections, which risks blocking many activities starting from air travel, makes investors fear new impacts on the economy while in Asia analysts look to the indications received over the weekend by the Chinese central bank which wants to have a “proactive” attitude of support for real economy with a focus on the real estate sector.
So they travel at a slow pace, albeit with some attempts to steadily bring themselves into positive territory, the FTSE MIB of Milan, on CAC 40 of Paris, on DAX 40 in Frankfurt, theIBEX 35 of Madrid andAEX of Amsterdam. Closed for London holidays both today and on December 28th. Few significant data from the macroeconomic calendar in the last week of the year: the most relevant, the Chinese SME indices, will arrive on Friday 31st when several markets will be closed (Piazza Affari for example) or will observe a short session.
However, the last sessions of the year are generally characterized by reduced trade i due to the holiday period, which make the performance of financial markets unpredictable. Added to this is a scenario of uncertainty caused by the spread of the Omicron variant of the coronavirus, which casts doubts on the trend of economic activity. The other big unknown is the resistance ofinflation. Last Thursday in the United States the prices of the PCE basket, watched by the Federal Reserve for its decisions, increased by 5.7%, as had not happened for 40 years.
Cnh Industrial runs, health sector good
In Milan it stands out Industrial Name after the extraordinary shareholders’ meeting approved the spin-off of the Iveco Group which will be effective from January 1st and will see the two companies listed independent in Piazza Affari from January 3rd. Well the health sector with Amplifon, Diasorin e Recordati in light. Lazy Nexi ed Eni. Flat Bper after the Interbank Deposit Protection Fund has for the moment decided not to grant the Modenese bank an exclusive right to negotiate for Carige. Little move outside the Ftse Mib Saras: on Christmas Eve, the oil refining group received notification of the conclusion of investigations by the Public Prosecutor of Cagliari relating to a proceeding concerning alleged irregularities in the purchase of crude oil from Iraq in 2016.
Spread jumps to 145 points
Departure in sharp decline for the BTp traded on the electronic secondary Mts. The yield differential between the ten-year Italian benchmark (IT0005436693) and the same German maturity is indicated at 145 basis points, from the 142 of the opening and from the 133 points of the final on Thursday 23 December, with a yield of the Italian ten-year jumping to 1.14 percent from 1.05 percent last week. The tensions on the markets due to the spread of the Omicron variant are also reflected in European fixed income. The ten-year Spanish Bonos also fell sharply, with the spread with Bunds widening to 82 basis points.
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