(Il Sole 24 Ore Radiocor) – The reassurances of the ECB, which does not see the conditions for a rate hike in 2022 and estimates inflation to fall over the next year, continue to support continental equity markets. THE European price lists they thus move slightly upwards, after the positive session on Monday while the FTSE MIB of Piazza Affari, which has updated the annual top, lags behind the others. Investors continue to monitor the outlook for inflation on both sides of the Atlantic. On the rise the Wall Street indices.
Wall Street up slightly and eyes on the Fed
Wall Street indices slightly up thanks to the quarterly positive results of large retailers and after a increased retail sales (+ 1.7%) in October higher than expected. Inflation remains the focus of attention, having caused the end of a streak of five consecutive weeks of high for the indices. If inflation does not slow down, the Federal Reserve may decide to pick up the pace of the tapering, for now expected at 15 billion a month to end the $ 120 billion a month bond purchase program by mid-2022; moreover, it cannot be ruled out that the Fed may then decide to raise interest rates already in the first part of next year. Speaking of the Fed, President Joe Biden’s announcement on the next president it would be “imminent,” according to Sherrod Brown, the chairman of the Senate Banking Committee.
FTSE Mib stock market trend
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«The tone of the central bankers is changing – he says Luigi Nardella di Ceresio Investors – acknowledge that i signs of inflation they are more persistent and the economies recover faster than expected. The interest rate markets have noticed this and are pricing one Fed hike already in June of next year “. However, he continues, “the awareness of not putting the recovery at risk with excessive restrictive measures” remains strong. For this reason, “as long as economic growth remains sustained and the action of central banks is gradual, stock markets should not take great risks”.
Tim is fine in Milan, utilities are weak
Among the main Milanese titles it continues to shine Telecom Italia thanks to the boost coming from the Vodafone accounts and the new strategies being studied by the British telecommunications group Bene Tenaris, Ferrarii eMoncler, as they lose ground Amplifon, Hera e Italgas. It did not price at the opening, on the first day of listing on Euronext Growth, Racing Force, a Ligurian company specializing in safety equipment for motor sports, such as helmets, suits and gloves (in the last 10 years it has won more than 60 FIA world titles with its products).
