MILANO – The Federal Reserve’s work on rates has borne fruit, but they have not yet fully matured. It’s the gist of the president’s words Jerome Powellinterviewed by Cbs Sunday evening: “Inflation fell last year and sharply over the last six months. We are making progress. The work is not done and we are committed to ensuring a full return to price stability for the benefit of people,” he said. said. He therefore gave another push to the prospect of acting as early as March: “We – explained Powell – want to be sure that inflation moves towards the objective of 2 percent”. “I don’t think we will reach that level of confidence in time for the March meeting, which is scheduled for seven weeks,” he added. On the markets there is the China’s volatile session, which plummets again after a black week on the Shenzhen and Shanghai stock exchanges, then rises again, then closes lower again. The intervenes China Securities Regulatory Commission which undertakes to adopt effective measures to prevent the risks of securities foreclosure. Already on Sunday it said it was ready to prevent anomalous market fluctuations and to increase the inflow of funds.
Key points
-
EU price lists start slowly, Unicredit drags Milan
-
Chinese stock markets, sitting on the roller coaster and still closing sharply lower
12:34
Milan accelerates driven by the banks
Piazza Affari continues to rise with the Ftse Mib at +1.02% and above 31 thousand points (31,031), at the highest since 2008. The Milanese stock exchange does better than the other European stock exchanges which proceed mixed after the publication of the PMI services which are rose in Italy, Spain and GB while contracting in the Eurozone, France and Germany. Piazza Affari is driven by a ‘weight’ sector, the banking sector grappling with a crucial week on the quarterly front: Intesa +2.84%, Mps +2.76, Bper +2.03%, while Unicredit jumps by 10 .13% after the “record” results of 2023 and the announcement of a payout of between 90 and 100% for the 2023 and 2024 financial statements.
09:32
EU price lists start slowly, Unicredit drags Milan
European stock markets open cautiously and with little movement after Fed President Jerome Powell dampened enthusiasm about cutting rates. In Frankfurt the DAX marks +0.01% to 16,919.50 points, in London the FTSE 100 advances by 0.10% to 7,629.75 points, in Paris the Cac 40 shaves -0.02% to 7,590.37 points and in Madrid the Ibex-35 drops by 0.10% to 10,052.68 points. In Milan, the protagonist is Unicredit, after the accounts: it rises by 8% and drags the general price list to +1% with all the banks in good tune.
09:29
Vodafone, accounts above expectations. Confirms “interlocutions” on Italy
The Vodafone group closes the third quarter beating analysts’ estimates. Organic revenues from services grew by 4.7% to 9,383 million euros. The group, we read in a note, still expects an adjusted Ebitda after leasing of 13.3 billion euros and a cash flow of 3.3 billion euros. “Our operations in the UK and Spain are progressing well and we are in active discussions in Italy” confirmed the CEO Margherita Della Valle. After the rejection of the marriage proposal with Iliad, in the note on the Vodafone accounts he confirms: “We have confirmed that we are exploring options for consolidation on the market in Italy with various parties. There can be no certainty that a transaction will ultimately be agreed.”
09:28
The spread opens stable
The spread between BTPs and Bunds opens at 157.7 points, in line with the 157 at Friday’s close. The yield on the Italian ten-year bond stood at 3.815% from the previous 3.805%.
09:28
Chinese stock markets, sitting on the roller coaster and still closing sharply lower
The Chinese stock markets close another session on the roller coaster with heavy losses: the Shanghai Composite index drops 1.02%, to 2,702.18 points, while that of Shenzhen loses 3.93%, to 1,433 points, 10. The two lists, which fell to intraday lows of almost -4% and -7%, are falling despite Sunday’s commitment from the China Securities Regulatory Commission (Csrc), the market supervisory authority, to protect small and medium-sized investors size by “severely punishing illegal market behavior.” On the macro front, the Caixin services PMI index fell to 52.7 in January (from 52.9 in December) with lower growth in new orders.
09:27
Euro little moved at the start
The euro opens little moved below 1.080 dollars. The single currency changes hands at 1.0775 dollars (-0.06%) and is falling against the yen at 159.87 (-0.14%). Greenback stable against the yen at 148.36.
09:27
Tokyo closes higher in the wake of Wall Street records
The Tokyo stock market closed higher after Wall Street’s records, while Japanese exporters benefited from a weaker yen. The benchmark Nikkei 225 index rose 0.54% to 36,354.16 points, while the Topix gained 0.67% to 2,556.71. “Stronger-than-expected US jobs data led to the dollar rising to the mid-148 range against the yen,” IwaiCosmo Securities said. “Positive results from major domestic and foreign companies also supported buying across a broad range of stocks” in Tokyo.
07:46
China, services PMI index slows down
The PMI services index sponsored by the Caixin magazine marks a decline in January to 52.7, falling from 52.9 in December, equal to the highest levels of the last five months: the data is missing the forecasts, which were for a confirmation at 52, 9, due to lower growth in new orders. Despite remaining in the expansionary cycle for the thirteenth month in a row, the indicator confirms the difficulties of the Chinese economy. In particular, the growth of orders from abroad shows an easing, albeit fractional. Finally, confidence slipped to its lowest level in the last three months.
2024-02-05 11:22:57
#Todays #stock #markets #February #5th #Powell #Fed #moves #March #cut #Cautious #price #lists #Milan #rises #Unicredit #Crazy #session #China
