January 31, 2023

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Borsa Italiana, suspension of January 5, 2023 hearing

The main indices of the Italiana Stock Exchange and the main European financial centers took a break. An uncertain session for stocks of banks and oil companies

The main indices of the Italiana Stock Exchange and the main European financial centres They took a breakAfter the increases achieved in the first three cycles of 2023. the stock markets of the old continent were not affected by Preliminary data on inflation in Italya, Results are in line with the analyst consensus.

the FTSEMib It recorded a partial decrease of 0.11% to 24,833 points, after fluctuating between a low of 24,759 points and a high of 24,939 points. The same difference to FTSE Italia All Share (-0.11%). Negative performance also for Medium hat from FTSE Italia (-0.15%) and l Star of FTSE Italy (-0.37%). In the session of January 5, 2023, the value of trades decreased to 1.54 billion euros, compared to 2.4 billion on Wednesday.

the Bitcoins I was left with just under $17,000 (about 16,000 euros).

the BTP-Bund spread It is back above 200 points, with the 10-year BTP yield hovering above 4.3%.

L’euro It fell below $1,055.

An uncertain session for bank stocks. According to Federico Vetrella – Market Strategist at IG Italia – the sector will be the one that best defends itself in the new macroeconomic context dictated by rising interest rates. According to the expert, the sharp increase in profits over net interest income should compensate for the growth in financing costs and the increase in costs associated with a possible decline in economic activity, although much will depend on the performance of the Italian economy in 2023. As a result, Federico Vetrella confirmed his preference for Intesa San Paolo (-0.61%) f UniCredit (+0.72%) are the two Italian banks that are able to show higher profitability than their competitors thanks to better asset diversification, de-risking strategies and business efficiency plans.

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Oil stocks also fluctuatedafter the price of crude oil in New York (contract expires in February 2023) fell to $73.5 per barrel.

Where is it? It recovered 0.24% to 13,608 euros. Also positive performance Saipem (+0.39%) f Tenaris (+2.91%).

Sales prevailed among services. bowing Hera (-3.42%).

stellants Among the best in FTSEMib (+1.04% at €14.34). The automotive group has announced its intention to expand the partnership with Archer Aviation to produce the Midnight Electric, an electric vertical take-off and landing aircraft. Stellantis will provide up to $150 million in equity capital for potential use at Archer’s discretion in 2023 and 2024, subject to certain company milestones that Archer expects to achieve in 2023.