September 25, 2022

Wire Service Canada

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Calm return in the markets, European Union stock exchanges rise, oil and gas decline. Milan + 1.7%

(Il Sole 24 Ore Radiocor) The week begins with a positive session for most managers European indicators. Investors’ attention always remains on the war in Ukraine And negotiations with Russia, which are taking a “technical break” until tomorrow. At the diplomatic level, the meeting between representatives of the United States and China in Rome is also considered. Moreover, for this week, one of the focal points is a meeting Federal Reserve, which on Wednesday March 16 is expected to make its first rate hike since 2018: according to forecasts, it is likely to be “only” by 25 basis points, due to the uncertainty brought about by the Russian invasion. Meanwhile, oil, after the last race, is taking your breath away today, also thanks to the increase in Covid cases in China. On the European listings, we saw sales on many oil stocks and on the more defensive stocks that were better from where the swing sessions last week while strong buying returned to the banking and auto sector. As for the indices, the Ftse Mib in Milan rose by 1.67%, in Paris the Cac40 rose by 1.75%, in Frankfurt the Dax40 rose by 2.2%, while in Amsterdam the Aex lags further (-0.07%). It’s moving Wall Street thwartedwhich opens until next March 25 at 2:30 p.m. Italian time, after anticipating the introduction of daylight saving time.

The Moscow Stock Exchange is closed all week

The Central Bank of Russia decided to close stock trading on the Moscow Stock Exchange for the whole week, from March 14 to 18. Instead, some sections with regulation will be opened in rubles. Regular trading in the foreign exchange and precious metals markets. The Central Bank announced that the stock exchange operating hours for the week of March 21-25 will be announced at a later time.

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In Rise Team Avary Arena, the cars run well too

In Avary Square, among the addresses in the directory Tim (+4.95%), after yesterday it was announced that the Board of Directors had given authorization to President Salvatore Rossi and CEO. Pietro Labriola to start a formal dialogue with Kkr, beyond those already held informally in recent months by consultants. Achievements have fallen Leonardo (-1.62%) that recorded in the last octave jump by 20.8% Tenaris (-2.48%), down from +11.9% last week. Among the stocks with the highest capitalization in Piazza Affari, Buzzi Unicem (+5) and Interpump (+4.39%) stood out. Banks also reward purchases: Mediobanca (4.12%) Bper (+ 4.09%), Intesa Sanpaolo (+ 3.68%), Unicredit (+ 3.32%) and Banco Bpm (+ 2.86%). Regarding the latter, CFO Eduardo Ginevra clarified on Friday that the institute is evaluating a sale or partnership of merchant acquisition activity, payment points in commercial enterprises. This is a strategy that has already been adopted in recent months by organizations such as Intesa Sanpaolo and Bper: they both sold the company to Nexi (+0.5%). The session was also a strong recovery for Auto sectorIn Milan, Stellants rose by 3.73%, with Iveco Group + 4.27%, Cnh Industrial + 3.29%, while Ferrari lagged further (+1.4%). Exor Holdings rose 1.9 percent.

The euro recovers slightly against the dollar

In the foreign exchange market, the single currency is trading at $1.0992 (1.0941 at the beginning and 1.0940 at the end of Friday) and at 129.683 yen (128.83 and 128.12), with the dollar/yen exchange rate at 117.986 (117.75 and 117.11).

BTP/Bund spread trend

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The spread narrows in the final to 158 basis points

Heavy session of government bonds traded on the electronic secondary Mts. As a result, a recovery in equity markets leads to strong sales on fixed income that does not even provide bonds, closing the BTp-Bund price differential with minimal variance compared to Friday while the Italian 10-year yield heads towards 2 percent. In the end, the yield differential between the ten-year BTp benchmark and the same German maturity settled at 158 ​​basis points (161 points initially) not far from the 157 points that were finally recorded Friday. The decline in the prices of government bonds traded in the electronic secondary sector led to a rise in yields: Italian 10-year bond yields 1.97% at the end of the session (1.90% at the open), up sharply compared to 1.87% from the eve’s close. The yield on the 10-year bonds is 0.38% (0.29%). Spanish bonuses 1.39% (1.29%).