Putin lights up the stock exchanges, the markets believe in his openings

(Il Sole 24 Ore Radiocor) European stock markets up after mid-day, encouraged by the words of the Russian president, Vladimir Putin, according to whom “some progress” and “some positive changes have been achieved in the talks between Russia and Ukraine” “. With the indices of Wall Street contrasted after a positive start, also in Europe, the price movement slowed down. The FTSE MIB, which left 4.2% on the parterre yesterday, is up while the spread drops to 160 points. Same movement for the other European indices. The Tokyo market, on the other hand, closed down 2%, in the wake of the negative performance accused by Wall Street, as well as news of bombings in Ukraine which occurred at dawn. The shares of Leonardo – Finmeccanica are popular in Piazza Affari, also entered in the volatility auction after the publication of the 2021 accounts. Tim is also highlighted.

Eyes still on the war in Ukraine

Investors, today March 11, 2022, will once again keep their eyes on the conflict in Ukraine and the informal European Council held in Versalles. The news delivered by the Russian president during a meeting with the Belarusian president, Alexander Lukashenko, bodes well. Putin spoke of progress in the talks that take place every day between Russians and Ukrainians. Meanwhile, from the European front, the Commissioner for Economic Affairs, Paolo Gentiloni wrote on Twitter: “Exactly two years have passed since the pandemic was declared. Then the European response was strong and swift. Today, in the face of the invasion of Ukraine and its humanitarian and economic consequences, we still need strength and speed ”. The day is instead lacking in macro data. Yesterday. instead, the markets retreated after the sprint two days ago, paying duty to the disappointment caused by the summit held in Turkey between the Russian foreign minister, Sergej Lavrov, and the Ukrainian one, Mytro Kuleba. Summit that ended with a stalemate. More the European Central Bank has confirmed that it will continue with monetary tightening to fight inflation, expected for this year at 5.1%. Pepp purchases, those introduced with the pandemic, will end at the end of the month. In addition, the Eurotower Governing Council has opened to an early end – perhaps already in the third quarter – of net purchases of Quantative easing, unlike the latest indications which envisaged purchases for the whole of the second and third quarters. However, a possible rise in interest rates is moving away: if until last month the ECB claimed that Qe would end shortly before the first interest rate hike, now it has instead indicated that the first rate hike will take place “some time after the end of Qe, and it will be gradual ». As if that weren’t enough, yesterday the data on the data created discomfortUS inflation, which rose to 7.9% in Februarylevels not seen for 40 years.

Leonardo and Tim fly to Piazza Affari

In Piazza Affari the Leonardo – Finmeccanica race continues, with the shares that have also entered the volatility auction. The company published (yesterday with markets closed) the accounts for the fourth quarter, better than expected results. Analysts also appreciated the forecasts for 2022, with the indication of cash flows higher than expected. In addition, the company benefits from the prospect that European states are planning an increase in military spending. Telecom Italia also continues to remain in the spotlight, which has risen almost 8%, pending Sunday’s board of directors which should give a final word on the expression of interest advanced by Kkr last autumn. The fund is ready to put € 0.505 on the table for each share. The shares of Iveco Group are also flying on the day the unions signed a new agreement for the 2022 award, as well as for CNH Industrial. The Atlantias are also under the lens, after the publication of the 2021 accounts, closed with a loss of 0.5 billion due to write-downs. In any case, a dividend of 0.74 euros will be distributed. The company provided guidance to 2024, which predicts an average annual growth of motorway traffic by 5% compared to 2021 and airport traffic in strong recovery with a return to 2019 levels in 2025. Based on this, investments have been estimated for 5.1 billion in the period 2022-2024 supported by revenues and EBITDA growing respectively to 7.7 billion and 5.1 billion by 2024. Out of the main basket, Brunello Cucinelli flies almost 10% following the publication of the accounts in growth in 2021 and the upward revision of the estimates for both 2022 and the medium-long term with the doubling of the turnover seen in 2026 instead of 2028 compared to the levels of 2019.

Euro floats at 1.10 dollars, rising crude oil value

The euro / dollar exchange rate is floating around 1.10 (in line with yesterday evening, 1.1006). Oil rose by about 1% in London to 110.83 dollars a barrel in the May Brent contract and to the same extent in the April delivery of the WTI trading at 107.1 dollars a barrel. Gas prices are down by 5% to 119.85 euros per megawatt hour in Europe. Finally, gold fell slightly to 1,988 dollars an ounce and bitcoin is stable above 39 thousand dollars.

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About David Martin

David Martin is the lead editor for Spark Chronicles. David has been working as a freelance journalist.

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