(Il Sole 24 ore Radiocor) – Le European stock exchanges they move higher after an uncertain start to the week: to support investors’ greater risk appetite good indications on the Covid front coming from Shanghai, on the third day without infection, and the possibility that China will loosen the restrictive measures on the technology sector introduced in the last year and a half. The focus is on central bankers with the intervention of Christine Lagarde tonight at a Soroptimist International event, while the Federal Reserve’s number one Jerome Powell will be interviewed at an appointment organized by the Wall Street Journal.
«L‘inflation it is becoming an increasingly serious problem – underline the analysts of Mps Capital Services – in the Eurozone, the second level effects are limited for now, but energy and food inflation remains high and is starting to worry more and more ». BoE Governor Bailey said central banks are “powerless” in the face of accelerating inflation largely caused by “apocalyptic” increases in food (and energy) prices exacerbated by the war in Ukraine. On the macro front, in addition to industrial production and the confidence of US manufacturers, eyes will be on retail sales in April, useful for understanding the health of US consumers.
Meanwhile, in Italy, inflation slows down by 0.1% in April to + 6% on the year. The figure acquired for 2022 is + 5.2%. In the Eurozone, seasonally adjusted GDP increased by 0.3% in the first quarter of 2022 and by 0.4% in the EU compared to the previous quarter.
Iveco runs to Piazza Affari, Unicpol seeks redemption
In the basket of the big 40 in Milan, he is looking for redemption Unipol after two sessions in the red due to the management’s desire not to proceed with the merger with Unipolsai. Well both industrial stocks (Saipem, Cnh Industrial, Stellaris) and bankers (bpm bank, Bper). Stmicroelectronics e Moncler take advantage of Chinese news on the tech front and possible reopening. Rally of Iveco Group which benefits from the guidance of Daimler Truck on 2022. Out of lFTSE MIB new exploit of Saras thanks to quarterly accounts and management projections on refining margins.
Euro recovering, oil rises
On the currency market the euro recovers still ground against the US currency remaining above 1.04: last week it closed with the exchange rate at its lowest since December 2016 below that level. On the rise the petrolium, thanks to expectations of a relaxation of the restrictive measures in Shanghai after the second day of contagion in the city. The gasoline future rose above 4 dollars a gallon for the first time with records also in US retail prices: “It should be remembered – say the analysts of Mps Capital Services – that at the end of the month the driving season in the country will begin, with consequent probable strengthening of the demand for fuels (which in reality is already starting to strengthen) ».
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