Tuesday , May 30 2023

Bags, Piazza Affari in red. Broaden BTp / Bund in zone 315


The Brekit theme works in financial markets. After the British government began to withdraw from the EU,
which will be delivered to the European Council in ten days and the first resignations to the English Parliament by the end of the year
from London (those Ministers Brekit Raab and Secretary of State for Northern Ireland) increase turbulence
The pound bank (which slips by one percentage point and returns for at least two weeks) and contributes to the position
cautious operators. After the initial growth, the stock markets slowed down and FTSE MIB Piazza Affari entered the red: in Milan paid attention to the quarterly, but also to the case of Italy, with the remaining expansion in the area 315 points following the demands of Austria and the Netherlands to initiate the procedure of violation against
Rome for excessive deficit. Other indices are weak (follow the trend here) with a sharp correction of the car and sales sector in the retail and traffic sector.

A clear correction of the pound after the ministers of Brekit and Northern Ireland resigned
After a good start, and London return (good companies of mining and mining, but real estate, banks and retailers)
while the pound sterilized the recovery trend over the past few weeks against other currencies: the euro / pound rate was
leads to 0.8833 (with 0.8705 last night), the pound / dollar exchange rate is stable at 1.2801 (1.2980). Right after publication
London yesterday, the euro / pound rate rose to 0.8685, and the pound / dollar at 1.3058). Euro / dollar at 1.1310 from 1.1335. Pound, explains David Madden (market analyst at CMC Markets UK), collapsed this morning after that
Theresa suffered a blow: Dominik Raab, Secretary Brekit, resigned. This move has shaken self-confidence
in the ability of the prime minister to obtain consent for an outgoing agreement. In addition, retail
in the United Kingdom, fell by 0.5% in October, completely lacking in growth forecasts

At Prismian and Sv
Returning to Piazza Affari, Prismian's sales are measured, following accounts that recorded a 5.7% decline in the first nine months of € 183 million and a confirmation
goals at the end of the year, and at Stmicroelectronics: the decline is linked by some operators to reducing the guidelines of the Austrian group Ams (among suppliers
Apple), which lost about 7% in Zurich after reviewing Thursday's fourth-quarter lead. By the way, Leonardo is punished
exposure to the United Kingdom. Among the best Pirelli & C after nine month accounts above the forecast and confirmation of profitability goals 2018. Emphasizes A2a still on quarterly effect and other utilities. On the other hand, the oil was positive, while the price of the soda was given
to $ 56.26 in December Vti and $ 66.58 in January in Brent: official weekly inventory statistics awaited
United States, yesterday, US Petroleum estimated the sixth increase in six-week stocks (+8.79 million
barrel forecast).

Flat Telecom Italy: The market is looking at the new CEO's appointment who should leave the board next week: it is today
The Appointing Commission did not dispel doubts about who would be the manager. Precipita El.Endopo is a quarterly and downward revision of the operating profit forecast for 2018: at the beginning, the Tuscan group
lasers for industrial and medical use estimate an increase of 10% from year to year, and now simply predicts this result
2018 will be higher than the previous year. Brillante Salini Impregilo yesterday updated the trend of new orders, which rose by about 14% in the nine months of 2018 to 4.9 billion euros. heavy
Mondadori after the quarter to which the devaluation of French property was acquired in view of the sale of these assets.

Sales in the automotive sector across Europe
Significant sales in the automotive sector across Europe: the Stokk600 industrial index drops 1.8%. This morning, Acea
widespread data on European registration in October: registration of new cars in Europe has declined
7.4% during the year, with 1,118,859 vehicles. As a result, the continuation trend continues, although lower than in September
(-23.4%). In the first 10 months of this year, registration increased by 1.4% to 13,424,360. For the Fiat group
Chrisler's drop was 13.3% compared to the same month of 2017.

Spread returns to 315 points
After the evening (with a maximum of 316 points), the BTP / Bundle range drops to 312 (307 points, the first mark on the opening
on the telecommunications market Mts). Yesterday's decline was linked to the negative response of Italy to the letter
Commission of the EU with the request to change the budget maneuver. The difference in yield between the reference value
Italian (Isin IT0005340929) and German 10-year-old 15/8/2028, and then a little bit compared to 313 final
Eve. The yield of ten-year Italian bonds to 3.50% (3.47% after the first exchange) of 3.54% of the final on Wednesday.

Tokyo mildly reverses with a recovery in the final (-0.2% Nikkei)
The Tokyo Stock Exchange concludes a two-person session mildly. The first one is characterized by a sharp fall
this morning, in line with the fourth consecutive fall in Wall Street and the strengthening of the yen against the dollar.
The second appeared in the Asian afternoon when the purchases on inventories and the Nikkei index returned, which is
lost more than 1%, began to grow in the light of returns in other Asian markets. In closing the index
Nikkei of 225 leading titles scored 21,803.62 points, down from 0.2%, (-42.8 points) and Topik index of the main list
yield 0.14% to 1,638.97 points. The US dollar remains weak in the finals to 113.5 yen against 113.91 yen in the final

From US data to light and shadows, encouraging retail sales
Numerous data on light and shade have been published today in the United States. Sales were particularly good
retail, up to expectations in October exceeded 0.8% on a monthly basis and 4.6% per annum on a seasonally adjusted level
511.5 billion dollars. It also showed that import prices in the US increased in October
more than expected by analysts. According to what was announced by the US Department of Labor, the import price
recorded an increase of 0.5% compared to September, compared to expectations for growth of 0.2%. Annually, that is
compared to October 2017, the number increased by 3.5%. And again, the Empire State Index, which measures the trend of activity
production in the New York area is climbing more than estimates in November. The data, compiled by the Federal Reserve of New York,
increased by 2.2 to 23.3 points. The largest data forecasts, given that analysts expect 20 points, after i
21.1 of the previous month. However, the conditions in the Philadelphia manufacturing sector slowed down
November is more than expected by analysts. A fall in the index that was calculated by the Federal Reserve Philadelphia
to 12.9 from 22.2 points in October. Finally, initial claims for unemployment benefits have increased over the week
November 10, 2000 to 216,000, a thousand more than the expectations of analysts. Four-week moving average
Instead, it climbs to 1,500 units at 215,250. Applications for unemployment benefits fell to the lowest level for 49 years
202,000 in mid-September before a slight increase due to an increase in the impact on the labor market
South of the United States of two hurricanes.

(Il Sole 24 Ore Radiocor)

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