October 3, 2022

Hardwood Paroxysm

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Arm wrestling on gas folds bags. In the Milan Saipem and Generali race, Tim collapses

(Il Sole 24 Ore Radiocor) – In a session already weakened by the stalemate in the peace talks in Ukraineraceeconomic inflation And the sudden stop petroleumis finally the confrontation on Gas to send me European price lists. Shy throughout the first part of the session, in fact indicators succumbed in the face of Putin’s threats to “stop gas supplies to Western countries if they don’t pay in rubles”, followed by the equally harsh response from German Chancellor Olaf. Schultz: “We’ll continue to pay it in euros or dollars, so it’s written in the contracts.” It was enough for the old continent’s stock exchanges, including Wall Street, to extend losses, while the clash over raw materials between the European Union and Russia rises to warning levels.

Meanwhile, investors are hoping for concrete developments in negotiations between Russia and Ukraine to at least reach an agreement on a ceasefire, with slowing Chinese manufacturing and the potential use of strategic reserves by the United States putting the brakes on the oil price. Meanwhile, the Old Continent is dealing with the latest inflation data, which reached 6.7% annually in Italy and 4.5% in France in March. In Piazza Avari FTSE MIB So it moves under parity, with paris (CAC 40), Frankfurt (Dax 30), London (FT-SE 100and madridIBEX 35). In any case, European stock exchanges are preparing to close in March, restoring the levels of the end of February and with a recovery of more than 14% compared to the lows of March 7. Wall Street indices also fell after the jumpeconomic inflation “Basic” PCE in February at +6.4% year over year, on top since 1983.

General leap before assembly, Tim collapses

“We believe the stock will receive short-term technical support from other potential market buying before the record date on April 14.” This is how Banca Imi analysts summarize the in-session appeal on stocks general In view of the meeting of shareholders on April 29 and the confrontation of the renewal of the Board of Directors between the list drawn up by the Board of Directors, with the support of Mediobanca, and the list drawn up by Francesco Gaetano Caltagirone with the support of Del Vecchio. To further reignite the bet on new purchases, the rumor that Del Vecchio could rise to the 10% threshold, from the current 8.2%, while also the Crt Corporation, which was part of a shareholder agreement with the two entrepreneurs, the current package could be rounded up by 1.7%. However, it was placed at the bottom of Milan’s list Telecom Italia After a comeback, that within three weeks sent the stock up 52%. These achievements are favored by rumors financial times The possibility of the Kkr private equity fund making an offer is questionable. Among the best of the course ternaAnd the Sanam retight gas And the Mediobanca While on the other side of the Ftse Mib they end up IVECO GroupAnd the Nixi And the Pop eh bank.

All ready for sale Aspi, Atlantia on top for two years

Atlantia It tests again a maximum of 19 euros in two years while everything is ready to close the sale of Autostrade in Italy. With the Board of Auditors registering the ministerial decree approving the addition and the economic and financial plan, all previous terms stipulated in the sale agreement were verified by the 88% holding company of Aspi for the consortium led by Cdp Equity in which Blackstone and Macquarie are participating. Closing is now expected in 30 business days. “Clearly positive news” for Banca Akros, given that it definitively removes uncertainty about the definition of the transaction. Equita Sim analysts, who raised the target price to 20.5 euros with the recommendation that remains “buy”, are already looking into implementing the buyback program of up to 2 billion euros approved by the shareholders’ meeting in December: the sale of Aspi, Atlantia will raise 8.2 billion euros.

In the US, personal consumption expenditures (PCE) inflation increased +6.4% in February, the highest level since 1983

Meanwhile, inflation in the US continues to rise. In fact, in February, the measure the Fed prefers to calculate, the Personal Consumption Expenditure Expenditure (PCE) price index, grew 0.6% MoM and 6.4% YoY, after +6% in January (highest number since 1982) . The “core” component of the data, net volatility, grew 0.4% from the previous month and 5.4% from a year earlier, after 5.2% in the previous month, the highest level since 1983.