US inflation jumps to 8.5%, the highest since 1981. Wall Street goes up, EU stock exchanges in red

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(Il Sole 24 Ore Radiocor) – Inflation in the United States touches its highest since 1981, reaching 8.5% per annum in March and + 1.2% compared to the previous month. However, the “core” inflation figure turned out to be lower than expected and traders are hoping that expensive prices have reached their peak. The US data, however, gives support to the US dollar while le remains in the red European stock exchanges, already weak in the morning and weighed down by pharmaceuticals and banks even if supported by energy stocks, raw materials and technology. Yields on US government bonds are slowing down, returning below 2.8% and government bonds are recovering in the eurozone, so much so that the BTp at 10 years it goes to 2.4% compared to 2.5% of the opening. In sharp rise Wall Street.

Uses top inflation since 1981, but given “core” slows

In March, US consumer prices increased by 1.2% compared to the previous month, against expectations of + 1.1%, after + 0.8% in February. This was announced by the Labor Department. The “core” figure, ie the one without the component of the prices of food and energy goods, grew by 0.3%, after + 0.5% in the previous month, against expectations for + 0.5%. On an annual basis, the general figure recorded + 8.5% – more than 8.4% of expectations and above 7.9% in February – which is the largest increase since December 1981. The “core” figure it grew by 6.5%, after + 6.4% in the previous month, the highest figure since August 1982; expectations were + 6.6%. The prices of the food sector and those of energy grew on a monthly basis by 1% and 11% respectively. Over the past year, energy prices have increased by 32%, those of food by 8.8%, the largest increase since May 1981.

Covid in China under the lens of investors

Markets continue to monitor the spread of Covid cases in China, with Shanghai aiming for a gradual reopening following restrictions that led to a new lockdown. Investors are keeping a close eye on the war in Ukraine with the Russian offensive focusing on the Donbass. European stock exchanges in red: the FTSE MIB of Milan, on DAX 40 in Frankfurt, after consumer prices in Germany rose by 2.5% in March, up 7.3% annually, theIBEX 35 in Madrid, the Ftse 100 in London, theAEX of Amsterdam and the CAC 40 of Paris, with France grappling with the results of the first round of the presidential elections and President Emmanuel Macron who will go to the ballot with Marine Le Pen.

In Milan Leonardo stands out, banks are down

On the Milanese stock market, at the top of the list Leonardo – Finmeccanica which collects the positive opinion of Deutsche Bank, while Stmicroelectronics suffers from the downgrade of Barclays. Generalized sales on banks, while Banco Bpm must evaluate the offer of Credit Agricole. Always high focus on General, on the last day to build positions in view of the assembly of 29 April that will elect the new board of directors. In focus again Atlantia: according to rumors, the takeover bid by Edizione / Blackstone could start as early as tomorrow, the price would be 25 euros per share. They hold utilities and energy, with Tenaris in light, while oil prices are on the rise thanks to the easing of the anti-Covid restrictive measures in Shanghai, which penalized prices yesterday due to fears of a drop in demand.