January 28, 2023

Wire Service Canada

Complete Canadian News World

European stock exchanges are charging in the first session of 2023. Gas is still falling

(Il Sole 24 Ore Radiocor) 2023 is a good start for European stock exchanges. The leading indicators, after a positive start, lengthened the pace and started to go at a brisk pace – in Milan FTSEMIB It represents a progression of more than 1%, while a small one indicates a progression Margins It moves in the region of 212 points and The yield on 10-year government bonds by 4.61%. On the other hand, the markets of the Old Continent last week recorded a poor performance, exacerbating the 2022 budget which was already in a heavy fog. Last year, Milan left more than 13% on the saloon. However, the loss would have been much worse if the indices had not run in the last months of the year: at the end of September, the Ftse Mib fell by about 26%. Today’s European markets do not have the beacon of Wall Street, which is closed for holidays. The Japanese arena also remained closed.

In December, European manufacturing improved, but is still in contraction

On a macro level, European manufacturing activity appeared to have improved in December, although it remained in contraction. maximum in three months. He pointed out that “during the last month of 2022, the severity of the contraction in the manufacturing sector in the euro area decreases, with the easing of inflationary pressures and more stable conditions for the supply chain, which are the factors that gave a respite to commodity producers.” The Markit Institute that computes PMIs, which also focused the indicator on weak customer demand in the form of a decrease in new orders received. «Companies have diverted the largest production capacity in reducing outstanding business. At the same time, in December, despite the collapse in the volume of purchasing activity and production, new increases were recorded in stocks of factors of production and finished products. Having said that, employment growth continues.”

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Telecom and Stellantis are highlighted in Piazza Affari

In Piazza Avari stellants rose 1.4%, pending data on Italian recordings (with the market closed), even if the group now accounts for the bulk of its sales in the United States. They run stmicroelectronics (+1.1%) and oil stocks are in a good position, with Tenaris And the Where is it? by more than 1%. They also run Telecom ItaliaAfter the expressions of optimism on the profile of the network expressed by Minister Adolfo Urso in the pages of Il Sole 24 Ore (31 last December). They also turned up Moncler, despite a weak start due to fears stemming from the COVID-19 infection in China. I oppose this trendamplifier. outside the main basket, Mps Bank It jumps by more than 4%, after the Sienese Institute He assured that the big doubts about the continuity of the company had been overcome Which was announced in previous reports after the €2.5 billion capital raise which was successful in recent months.

The euro is in the $1.06 area, gas is still low

In the foreign exchange market, theeuro It is worth $1.0673 (Friday closed at 1.0680) and 139.73 yen (140.85), while the dollar/yen cross stands at 130.93 (131.82). The price of gas in Amsterdam continues to fall, after slowing 14.5% on Friday: the February future stands at €73 per MWh, down 4.3%.