(Il Sole 24 Ore Radiocor) – They move at two speeds i European financial markets, with Asia in the red and the dollar under pressure and at two-month lows. The data oninflation in the United States for the month of December, which stood at 7% (the highest level since 1982 and over 6.8% in November), it did not frighten the markets and confirmed to investors the words of Fed chairman Jerome Powell, namely that the central bank aims to curb the rise in prices without damaging the economy and that every move will be linked to the performance of the data and the recovery.
Attention now returns to the increase in Covid-19 infections, which weighed above all in the Tokyo session, and to the repercussions on the economy. In China, bank lending figures were particularly disappointing, which fell more than expected. So they move on AC the FTSE MIB of Milan, which looks at the industrial production figure for November (+ 1.9%, above pre-Covid levels), the CAC 40 of Paris, on DAX 40 in Frankfurt, the Ftse 100 in London, theIBEX 35 of Madrid andAEX in Amsterdam.
ECB: inflation above 2% in 2022, ready to adjust instruments
For the moment, the bulletin published by the ECB does not affect the performance of the markets very much. The Eurotower stressed that “the recovery of the economy continues in the euro area. Growth is moderating, but in the course of this year it should return to a vigorous recovery ». However, risks linked to inflation remain, which rose further to 4.9% in November and will remain above 2% for most of 2022, albeit with a gradual moderation. For this, “the Governing Council is ready to adjust all its instruments, where appropriate and in any direction, to ensure that inflation stabilizes at the 2% target over the medium term”.
FTSE Mib stock market trend
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Pay attention to the bankers, St and Iveco take off
On Milanese equities, banking stocks from Unicredit, after the slip of the eve. Also pay attention to Diasorin in the pharmaceutical industry after the company announced a new Simplexa molecular test for research use that includes variants with the Omicron mutation. Still good Azimut which announced a year with record profits. Well bought Stmicroelectronics with Credit Suisse raising the target price to € 60 with an outperform judgment, the auto sector did well Stellantis which rises after Jefferies who improved the price target from € 22-26 per share to € 25-29. Iveco Group e Industrial license.
Weak dollar, the euro returns to 1.145 on the greenback
US inflation met expectations, although it jumped 7% in December to levels not seen since the early 1980s, and this was enough to push the dollar back to its lows since mid-November. The euro took advantage of this, returning to 1.1453 on the greenback. Dollar also down against the yen around 115.
Tokyo closes sharply, Covid-19 worries again
The Tokyo Stock Exchange closed down, with the Nikkei index marking -0.96% at 28,489 points. The stock market had already opened lower, despite the positive trend on Wall Street on Wednesday 12 January, with Japanese investors worried about the rapid increase in Covid cases. More than 2,000 positive cases were recorded Wednesday in Tokyo, more than five times more than a week earlier, and the Japanese capital is preparing, according to some media, to raise the alert to the second highest level on a scale of four. The Topix index lost 0.68% to 2,005.58 points.
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