May 20, 2022

Hardwood Paroxysm

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Positive markets, oil is on the rise. Atlantia march in Milan

(Il Sole 24 Ore Radiocor) – The European stock exchanges They are about to close a volatile session, which has seen the indicators change several times and even go so far as to get a single point. So they move in no particular order FTSE MIB Milan, dated CAC 40 Paris, dated DAX 40 in FrankfurtIBEX 35 in Madrid, the Ftse 100 in London andAEX Amsterdam.
Highlighting the development of the war in Ukraine, while new sanctions are assessed in Moscow and the continued tug-of-war over Russian gas, the real balance was the choices of central banks: if investors believed the ECB would take a softer approach, and also wait to understand the effects of the conflict on the economy And growth, the Fed has made clear it will favor a more aggressive path, with increases of 50 basis points in upcoming meetings. On the other hand, St. Louis Fed Governor James Bullard was hoping that the US central bank would quickly raise interest rates to combat inflation, soon reaching 3.5% (at the March meeting it was decided to increase 25 basis points to 0.25% -0.50%).

Wall Street in red. Support is at its lowest level since 1968

Wall Street is down for the third consecutive session. Investors are preparing to put pressure on the Federal Reserve, which is preparing to act quickly and more aggressively to rein in inflation. Meanwhile, the number of workers who filed for unemployment benefits for the first time in the week ending April 2 dropped from 5,000 to 166,000, according to the Labor Department. The forecast was for a figure of 200,000. This is the lowest number since 1968. The impact of the invasion of Ukraine by Russia still needs to be assessed: according to US Treasury Secretary Janet Yellen, “it will have enormous economic repercussions for the world.”

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Focus on central banks, the European Central Bank refrained from uncertainty

After the minutes published on Wednesday evening by the US Federal Reserve, which confirmed the upcoming strong monetary tightening in the US, in Thursday’s session came the turn of the European Central Bank. From the minutes of the March 10 meeting, when the Frankfurt Institute stunned the market s What role is more restrictive than expectedIt turns out that conservatives have tended to go the route of withdrawing the monetary stimulus, believing that the conditions for an increase in rates have been met or are about to be met. At the same time, “he mentioned that It remained uncertain how long the rise in core inflation indicators would continueGiven the role of temporary factors associated with the pandemic and the indirect effects of high energy prices.” It was also noted that even if the forward guidance criteria could be considered fulfilled, The uncertainty at this moment was very high Compliance with the standards was a necessary but not sufficient condition for the first hike in official prices.

In Piazza Afari, the whole focus is on Atlantia and Tim

Eyes on Milan price list Atlantia Which was not priced at the opening (theoretical + 10%) and then entered into a bullish trade, support FTSE MIB, after Gip and Brookfield Trusts confirmed they had made a non-binding initial offer to the Benettons to take over the company. Moreover, according to rumors, the Ponzano Veneto . family couldLaunching a defensive show with Blackstone.
In the spotlight too Telecom Italiawith the The growing interest of investment funds for the group’s assets. As reported by Il Sole 24 Ore, private equity firm Apax has begun investigations indicating some activity will flow into Tim Services Corporation (ServCo). The Apax nomination appears to be the most credible (and could repeat the hub with Iliad already tried on the occasion of the bid on Vodafone Italia) and join the CVC interest and the subject of Kkr’s takeover bid, but the file will also be on the schedule for other international operators, including Apollo.

Oil price starts to rise again

Change direction several times oil priceThen it rises decisively after being hit by sales in Wednesday’s session in light of the sudden increase in US stocks and the decision of members of the International Energy Agency to release 120 million barrels of strategic reserves, including 60 million US barrels. The price of gas fell to move around 104 euros per megawatt-hour.