(Il Sole 24 Ore Radiocor) – The jump in bond yields, with the ten-year Bund close to becoming positive (-0.015%) and the Treasury at pre-Covid levels (1.845%), sent the stock exchanges into the red, and in particular Wall Street, which reopened after the long weekend. The specter on the horizon is always that of the Fed with experts continuing to practice forecasts on the upcoming monetary tightening: more will be known after the FOMC meeting next week, which will prepare the ground for the decisive one in March.
To pay the price of this scenario, and of a context of uncertainty linked to Omicron and the Chinese slowdown, are above all the tech stocks, with the NASDAQ 100 which accuses heavy losses and closes at -2.6, while in Europe the main lists contain the declines and in closing Milan marks -0.74%. The case is held in Piazza Affari Telecom Italia. Labriola is ready to illustrate in a pre-council the plan for the reorganization, which if implemented risks definitively removing the Kkr takeover bid: the title pays for it, which also discounts the fears of Iliad’s entry into fixed telephony. Heavy liabilities also for Diasorin e Prysmian while with crude oil at the highest levels (WTI at 85 dollars, + 1.1%) they lead the list Tenaris ed Eni; final blaze of General on the day when the board of directors will draw up the long list for the renewal of the board and while the clash over governance is raging. On the foreign exchange market, the single currency is worth $ 1,133 ($ 1.404 closing yesterday), and yen 129.84 (130.65) when the greenback is worth yen 114.58 (stable).
Usa, Wall Street closes negative: Nasdaq -2.6%
In January, the Empire State index – which measures the performance of manufacturing activity in the New York area – collapsed compared to December, disappointing expectations. According to data released by the New York Federal Reserve, the index fell from 31.9 to -0.7 points, against expectations for 25 points; it is the first negative reading after 18 consecutive positive readings. At the end of the session, Wall Street closed down, with the Dow Jones closing its worst session of 2022 and losing 1.51% to 35,369.39 points, the Nasdaq losing 2.60% to 14,506.90 points while the S&P 500 leaves 1.83% on the ground at 4,577.34 points.
Earnings down for Goldman Sachs, Activision Blizzard soars
On the list of concerns, there is the mixed start of the quarterly season: Goldman Sachs is down after closing the fourth quarter with falling profits and below estimates and due to the weakness of trading activity, while revenues rose and beat forecasts, also thanks to the good performance of investment banking activities. In the whole year, however, profit and turnover were up sharply. The title of Bank of New York Mellon is in the red, after revenues up 4% to $ 4.01 billion and earnings of $ 1.01 per share, up from 79 cents a year earlier, in line with expectations. In the tech sector, the news stands out that Microsoft Corp will buy video game giant Activision Blizzard (+ 38%) for 68 billion dollars.
Oil price – Brent
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They hold only the energetic, Milan weighted by Tim
Piazza Affari limits losses in Europe while Paris drops 0.94% and Frankfurt 1%; Madrid also defends (-0.65%). In Milan, in addition to General, at the top of the blue chips are oil stocks, first and foremost Eni e Tenaris, favored by the rush of crude oil to the highest levels; above par too Leonardo – Finmeccanica e Terna. Also Atlantia closes on par after the analysts’ promotions for the purchase of the German Yunex which in fact inaugurated the new course of the post Autostrade holding. At the end of the price list Diasorin e Telecom Italia Besides Prysmian e Saipem; realized on managed savings with liabilities higher than 2% per Banca Generali, Mediolanum Bank e Finecobank; sales on Iveco Group after the recent rally. On the rest of the list it continues to run Fopeafter the accounts released yesterday.
Brent is over $ 88, its highest since 2014
Crude in the running, with the Brent which reaches a top of 88.13 dollars a barrel, a level it had not seen since October 2014, before falling back. To push the rally the tensions in the Middle East caused by a drone attack on the outskirts of Abu Dhabi (United Arab Emirates), the third producer among the OPEC countries, claimed by the Yemeni Houthi fighters. To this, the analysts of Mps Capital Services underline, we must add the fact that Russia seems to confirm the difficulties in respecting the programmed rate of increase in production. During the day, the monthly OPEC report will be published, “interesting for the updates on market estimates by the Cartel,” analysts say, while a similar EIA report is scheduled for tomorrow.
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