Piazza Affari closes on the rise (+1.01%). Leonardo rally in Milan
The stock market closed the session on a good note, which accelerates the pace in the afternoon also benefiting from the good performance of Wall Street. In London the Ftse 100 index gains 0.51% to 7,721.67 points, in Frankfurt the Dax 0.48% to 16,617.58 points and in Paris the Cac40 advances by 0.52% to 7,450.63 points. In Madrid the Ibex rises by 1.26% to 10,180.50 points. While the Ftse Mib index marks +1.01% at 30,403 points.
Toned Business Square, among the best in the patrol of European stock exchanges, continues the swing of the beginning of the year, with moods and orientations that seem to change day by day. Today, after an uncertain opening, the price list has gradually changed pace. At the start, the Fed's minutes had little impact, with central bankers reiterating that there will be a rate cut in 2024 without balancing much on the timing, which will be determined by the next data.
Precisely on the macro front, note the solidity of the data on the US labor market, with private companies hiring 164,000 workers in December 2023, a figure higher than the 101,000 units revised downwards in November and which beats the forecasts of 115,000 unit. The ISM services index performed well in the USA but also in Europe, with numbers growing beyond expectations, while in France and Germany inflation began to rise again in December. Tomorrow it will be the turn of Italy and the Eurozone.
Energy stocks were the protagonists of the day, who have remained on the sidelines in recent sessions. Highlights are Enel (+1.48%), Hera (+1.93%), A2A (+2.31%), Snam (+2.53%), Terna (+3%), Italgas (+1, 88%), among the oil companies Saipem stands out (+3.22%). The banking sectors remain very active, with Unicredit +3.08%, Intesa +2.32%, Bpm +4.05, Bper +3.14% and among the financial sectors Generali and Unipol. Among the other blue chips, Leonardo's new surge rose by 5.73%. Downward, STM lost 3.86%, Moncler and Diasorin down.
The spread between ten-year BTPs and German Bunds closes at 168 points, little changed compared to the 166.8 points at the opening. The 10-year yield rises to 3.785%. After the sharp decline in yields observed in the last two months, the market is reevaluating its expectations on the monetary easing expected during the year by the Fed and the ECB.
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