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(Il Sole 24 Ore Radiocor) – While waiting for the Christmas break and the data on American inflation, the European stock exchanges they are traveling weakly, despite the optimism of Wall Street, which rebounded the day before. So they oscillate around parity the FTSE MIB of Milan, the CAC 40 of Paris, the DAX 40 of Frankfurt, theIBEX 35 of Madrid, the FT-SE 100 of London andAEX in Amsterdam.
Investors’ eyes are focused on PCE inflation in the United States in November, the data preferred by the Federal Reserve, which is expected to decline and will be released in the early afternoon (Italian time) and could be useful for obtaining indications on the next monetary policy moves . Meanwhile, in Japan, inflation slowed in November, returning to the lowest level since July 2022, thanks to the fall in gas and electricity prices. In Italy it is the turn of the data on consumer and business confidence in December (both rising to 106.7 and 107.2 points respectively), while in Spain and the United Kingdom the spotlight is on the GDP in the third quarter (rising 0.3% in the quarter in Spain and down 0.1% in the UK). In France, consumer confidence rises to 89 points in December.
Profit taking on Juve, news on capital increase
Juventus Fc down after the rally the day before. The company has appointed Citigroup and Unicredit as joint global coordinators in the context of the capital increase under option up to a maximum of 200 million euros and in which the majority shareholder Exor, “further demonstrating its long-term commitment to of the company and of the trust in its intrinsic value”, has undertaken to subscribe to the newly issued shares that are not subscribed at the end of the offer period. Following the commitment to subscribe to the new shares in proportion to its current shareholding (equal to approximately 63.8%), Exor will subscribe and release, at the subscription price, the newly issued shares that are not subscribed at the end of the auction of unexercised rights, up to a total amount of approximately 72 million. The capital increase is expected to be completed, approximately, in the first quarter of 2024. Furthermore, in line with the commitments previously undertaken, Exor has made a second payment towards a future capital increase for 47 million. Taking into account the first payment made on 27 October for 80 million, Exor paid a total of 127 million, which essentially represents its portion of the capital increase.
Tim still brilliant, oil companies doing well
At Piazza Affari Telecom Italia is on the rise, in the wake of the risk of telecommunications with the expectation of Swisscom’s counter-proposal for the marriage between Fastweb and Vodafone, also contested by Iliad. Oil companies are also doing well (in particular Eni, Tenaris e Saipem). At the bottom of the list Brunello Cucinelli, Bpm Bank e Banca Pop Er. Outside the main basket, De’ Longhi it is increasing well after an initial leap of 4.5%, following the announcement of the creation of a maxi coffee machine hub.
Spread in area 162 punti
Little change in the spread between BTp and Bund. The yield differential between the benchmark ten-year BTp (Isin IT0005560948) and the German equivalent maturity stood at 162 basis points, little changed compared to the previous closing. The yield of the ten-year BTp is increasing and opens trading at 3.60% from 3.57% at the closing the day before.
2023-12-22 08:39:22
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