The start of the week fell for the European stock exchanges, of which today only the Ftse 100 was the exception, with an increase of 0.12%, while the Dax and the Cac40 fell by 0.03% and 0.16% respectively %.
Ftse Mib in black jersey in Europe. Risks ahead?
Piazza Affari was worsted, with the Ftse Mib lagging behind its European colleagues, with a drop of 0.56% to 27,595 points, after reaching a maximum of 27,851 and a minimum of 27,589 points in the intraday.
The blue chip index practically doubled last Friday’s high, just below Thursday’s 27,876 points.
In the 27,850/27,870 area there is therefore the risk of a triple maximum which, if confirmed, will have the effect of bringing the prices back lower than the minimums seen in recent days.
The first support to monitor is that of 27,500/27,400 points, below which the descent will continue towards 27,200/27,000 points.
The abandonment of this last threshold was negative, a prelude to a continuation of sales towards 26,500 points first and 26,000 later.
The scenario just described will be denied by the Ftse Mib with a decisive break of 27,850/27,875 points, with the first landing in the 28,000 area and subsequent extension. up to 28,200 points.
With the violation of this last obstacle too, there will be room to rise towards the 28,500 area.
I market movers in America
The reopening of the American stock market is expected for tomorrow, which was closed today for holidays.
On the macro front, in addition to the weekly Redbook index relating to retail sales in the major US chains, the preliminary data of the manufacturing PMI index will be known, which in February should rise from 46.9 to 47.1 points, while the PMI services in the February preliminary release is estimated to increase from 46.8 to 47.2 points.
Existing home sales in January are estimated to have increased from 4.02 to 4.05 million units.
On the corporate side, the results of the last three months of Home Depot should be followed before the opening of Wall Street, with an EPS expected at 3.27 dollars.
Wal-Mart and Medtronic will also be called to test the accounts which, in order not to disappoint expectations, will have to hit the target of earnings per share of $1.51 and $1.26 respectively.
Macro data and events in Europe
In Europe, the preliminary data of the composite PMI index will be known, which in February should rise from 50.3 to 50.5 points, while the manufacturing PMI index is estimated to grow from 48.8 to 49.3 points and the index Services PMI from 50.8 to 51.1 points.
In France, the manufacturing PMI in the February preliminary version should rise from 50.5 to 50.9 points and the services PMI from 49.4 to 49.9 points.
In Germany, the manufacturing PMI in February is estimated to have increased from 47.3 to 47.8 points and the services PMI from 50.7 to 51 points.
Again in Germany, we note the Zew index which is expected to rise from 16.9 to 20 points in February.
In Germany, the auction of government bonds with a 5-year maturity for a maximum amount of 5 billion euro should also be followed.
The titles to follow in Piazza Affari
In Piazza Affari under the lens of Campari which will present the 2022 results and at the same appointments Recordati will be called which will also disseminate an update of the 2023-2025 business plan. Covivio, Relatech and Wimi Fasteners also tested.
To follow Stellantis in view of the data on car registrations in Europe with reference to the month of January.
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