Stock market, Piazza Affari slightly down. Spread little moved below 170 basis points
The stock market closed the session down, in line with the rest of Europe, which failed to benefit from the positive trend on Wall Street at the start. The Ftse Mib index ends with -0.44% to 30,241 points. Business Square weak and without momentum at the start of the week after the conflicting indications from central banks on the path to easing monetary policy.
While overseas operators appear optimistic about the next rate cuts, in Europe they are aware that there is still some way to go. On the macro front, meanwhile, note the surprise drop in Germany in the Ifo business confidence index, which in December stood at 86.4 against the 87.8 expected by analysts and after a revised reading of 87.2 in November.
It holds sway on the price list Tim (+4.50%) with interest in the telecommunications sector revitalized by the proposal presented by the Iliad group to Vodafone for the merger of the Italian activities of the two companies. The oil sector is recovering, with the rise in the price of crude oil also resulting from the suspension of transits on the Red Sea following security problems due to terrorist attacks. Eni closes with a +1.20%, Saipem +0.53%, Tenaris +1.12%.
On the downside, -3.42% stands out Ferrari, which after a positive series is penalized by the negative opinion of a report which lowers its target price. Also decreasing Fineco (-2%), Moncler (-2.29%), Stm (-2.88%). Mixed banks with Bpm +0.93% e Unicredit +1.84%, Understanding negative.
Spread under 170 basis points
Declining trend for the spread between ten-year BTPs and German Bund counterparts. The differential stood at 168 points at the end of the session compared to 170 at Friday's close, with the yield of Italian securities at 3.75%, practically unchanged.
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