Uncertain trend for European stock exchanges after the sharp decline of the eve triggered by indications from the Federal Reserve and inflation data in Europe. Piazza Affari (FTSE MIB) stands out on the upside, more substantial drops for Frankfurt and Zurich. The market is waiting for the r contribution to US work of the month of December – which should show a growing number – with investors trying to digest the minutes of the FOMC, the monetary policy committee of the Federal Reserve, which showed the prevalence of a more aggressive attitude on the part of US central bankers, with the expectation of a first rate hike in March of this year to tackle inflation. The chairman of the St. Louis Federal Reserve, James Bullard, said the first interest rate hike in the US could be in March. And precisely on the front of consumer prices, the publication of the first December estimate for the euro zone is scheduled.
St stands out in Milan, moment of truth for Carige
At Piazza Affari pay attention to Stmicroelectronics which achieved net revenues of $ 3.56 billion in the fourth quarter, a figure above the estimates released by the company in October. Focus on banking risk after the Interbank Deposit Protection Fund, controlling shareholder of the Bca Carige, announced its intention to complete the examination of the offers received for the Ligurian bank by Monday: Banca Pop Er and Credit Agricole are the two institutions working on the operation even if a return of the Cerberus fund is possible. Run again Iveco Group, while outside the Ftse Mib the rally of Alerion.
Industrial production down in Germany and France
Industrial production down in November in both Germany and France.
The production of the German industry in November recorded a decline of 0.2% monthly, according to the indications of the Federal Statistical Office, Destatis, while on an annual basis the decline was 2.4% and compared to February 2020, month before the first restrictions taken in Germany due to the pandemic, the drop is 7%. Contraction also in France in November: for Insee, -0.4% monthly and -5% compared to the levels of February 2020.
Stock exchange, Tokyo flat, for Honda’s new plant in China
An upward start, after the slide on the eve, then a turnaround and finally a recovery to close on Thursday’s levels. The Tokyo Stock Exchange (NIKKEI 225) experienced a last week session contrasted between the desire to rise fueled by a weak yen against the dollar and a series of uncertainty factors, starting with the wait for the US employment data that will be published when in Japan it will be night. Highlights include Honda, which gained 0.64% to 3,430 yen after the announcement of the construction in China of a new factory dedicated to electric vehicles with local partner Dongfeng. The new plant will be built in Wuhan and from 2024 will have an annual production capacity of 120 thousand vehicles.
The stop of the Epiphany linked to the Fed and inflation
European equity markets suffered a severe setback on Thursday. At Piazza Affari, the Ftse Mib ended with a drop of 1.8%, Frankfurt at -1.35% and Paris at -1.74%. The indications on the monetary policy of the US Federal Reserve contained in the minutes of the last meeting in December and published the previous evening, which they had already sparked violent sales on Wall Street and on Asian markets.
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