A negative closing week for Avary Square and most European stock exchanges, after the collapse of Asian stocks. Overall investor sentiment has turned negative again, after the good news of uncertainty over Fed interest rate moves and a potential easing of Covid restrictions in China.
Indeed, in November, 263,000 jobs were created in the United States, more than the 200,000 that analysts expected, and this may prompt the Federal Reserve to continue its aggressive monetary policies. According to Filippo Dudovic, Chief Market Strategist at IG Italia, the reaction in the markets was great because for investors, the chances of a contained interest rate hike to 50 basis points are much less than before. However, at the same time, Putin has again opened up to peace talks with Ukraine, even if the basis for a possible agreement, according to the Kremlin, is hampered by US positions.
In Milan, Ftse Mib lost 0.26% and closed at 24,414.63 points. The spread between BTPs and German bunds rises, but remains within 190 basis points. The yield on 10-year bonds rose by 3.8%. Amplifon (+ 3.22%), Banca Generali (+ 2.38%), Azimut (+ 1.86%), Campari (+ 1.99%) and Fineco (+1, 94%).
At the rear, however, is Tim (-2.06%), after the strong volatility of the last two sessions, with the now practically certain exclusion from the total bid. Stellantis then loses 2.05% even though registration data has increased in November compared to the same period in 2021. Oil companies are also bad, given the decline in crude oil prices. Eni loses 1.40%, Tenaris 1.65%. (in association with Money.it)