August 12, 2022

Hardwood Paroxysm

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European Stock Exchanges Try to Recover, Euro Drops Below $1.02

(Il Sole 24 Ore Radiocor) – The European stock exchanges Looking to bounce back after slipping from Eve, with fears of Recession And the inflation That continued to hold, while oil rose to 100 euros and the euro fell below the $1.02 threshold, a 20-year low against the dollar. A better-than-expected number of orders from the German manufacturing industry, which rose 0.1% month-on-month in May versus an expected 0.3% decline, helped mood the listings.

Investors, meanwhile, are waiting for the final minutes to be read at the end of the day feed itThe cost of borrowing was increased by 75 basis points. The market is allocating an approximately 85% chance of squeezing another 75 points this month and expects interest rates in the US to be in the range of 3.25-3.5% by the end of the year. “In the past two weeks I Economic recession fears “We have actually seen raw material prices and cyclical sectors correct sharply, while government bonds have made a good recovery,” says Luigi Nardella of Ceresio Investors. But for Nardella, “Despite the current slowdown, it is by no means certain that we are heading into a deep recession. The pessimism level Among investors it is very high. The first signs of declining inflationary pressures, elasticity in consumption and positive quarterly numbers could lead to a Market recovery“.

In the meantime, the bond is narrowing Spread In the area of ​​205 points, while the index achieved gains in Milan FTSE MIB. The main financial centers of the Old Continent, such as Paris (CAC 40), Frankfurt (Dax 30), London (FT-SE 100and madridibex 35).

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In Piazza Avary, eyes are on Tim, Well St. Banks are underappreciated

At Piazza Avari, managed savings are good Mediolanum BankAnd the Banka GeneralAnd the Finecobank And the azimuth. At the top of the list, among the best moves Stmicroelectronics, when moving banks face with Intesa San Paulo Which holds up best, and when Banco Bpm under pressure. Investors’ eyes focus on Telecom Italia On the day of the board of directors which, in addition to the accounts, will redesign the overall strategy of the group (from reorganizing the business, with the split between NetCo and ServCo, to issuing the creation of a single network, after signing the Memorandum of Understanding with Cdp Equity, Kkr and Macquarie funds). Major pharmaceutical stocks are in red.

FTSE Mib stock market trend

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Germany: +0.1% industry orders in May

Orders to German industry in May rose 0.1% monthly, versus an expected 0.3% decline and recorded a 3.1% year-over-year decline according to data released this morning by Destatis. Domestic monthly orders fell 1.5% while incoming orders grew 1.3%. German traders are also anticipating supply problems until the middle of next year, according to a survey by the independent research institute. Ifo. Indeed, in June, 75% of the sample of retailers in Germany complained that not all ordered goods were delivered, slightly lower than that recorded in May (80.1%).