European stock markets start the session on the rise, while the opinion of a pause in monetary tightening by central banks is consolidating among investors. In the background, attention remains high on the performance of the global economy and on geopolitical tensions. In Milan, the Ftse Mib rose by 0.45% on the day of Moody’s report on Italian debt. All the other European indices are also rising: Paris (+0.39%), London (+0.38%) and Frankfurt (+0.27%). The spread between BTPs and Bunds changed little at 174 points, with the yield on the Italian ten-year bond falling to 4.28%, here is the trend of the spread.
Positive trend for the banks in Piazza Affari. Mps shows its muscles (+2.4%), which has been in great shape for a few days. Bper (+1.5%), Banco Bpm (+1.3%), Unicredit and Intesa (+0.5%) also performed well. Contrasted performance for insurance companies with Unipol gaining 1.6% and Generali losing 1.1%, the latter after the results of the first nine months. Purchases on utilities with the price of gas at 46 euros per megawatt hour. Hera (+1.1%), Enel (+1%), A2a (+0.9%) and Erg (+0.3%) increased. The energy sector also rose, where Saipem gained 1.2%, Eni 0.6% and Tenaris 0.5%. Pirelli and Nexi stand out (+1.5%). Among the smaller capitalization stocks is Anima (+3.3%), after the acquisition of Kairos, here is the price list trend.
Asian stock exchanges
Asian stock markets close mixed, while the opinion of a pause in monetary tightening by central banks is consolidating among investors with the drop in oil prices reducing the risks of a recovery in inflation. In the background, attention remains high on the latest quarterly reports and geopolitical tensions. Closing higher for Tokyo (+0.48%). On the exchange rate front, the weakening phase of the yen against the dollar comes to a halt, at 150.50, and against the euro at 163.40. While negotiations are still ongoing, Hong Kong slips (-2.1%) with the collapse of Alibaba (-10%), after canceling the spin-off of the cloud computing division. Shanghai moved little (-0.02%), Shenzhen rose (+0.3%), Seoul fell (-0.7%) and Mumbai (-0.1%).
Energy and currencies
On the currency market the euro remains in the 1.08 area but slightly decreasing, while oil remains weak. Brent in January at 77.37 dollars a barrel (-0.05%) and WTI in December at around 73 dollars a barrel (+0.11%).