La Consob raised the level of guard, with a call for attention on the behavior and risks that the war has triggered. With the approval of the financial statements, or at the latest with the next shareholders' meetings, in fact, every listed company will have to tell the story the impact of the Russian invasion of Ukraine on your business and financial life.
In the meantime, after a week of recoveries (+4,70% in Milan), the financial markets are moving towards a cautious opening, waiting to verify how well-founded the Turkish Foreign Minister's anticipations are on a possible imminent ceasefire in Ukraine. futures of Wall Street signal a start down by half a point, brakes in the night Hong Kong, the great protagonist of the rebound of tech stocks.
To raise the price of Petroleum (+3,8% to 108 dollars the WTI, 111,5 the Brent), meanwhile, provides for the missile attack on Saudi oil installations by the Houti of Yemen. But the Saudi giant, which is celebrating a 120% increase in profits in 2021, has guaranteed the increase in investments for 50 billion dollars in response to US requests. The Wall Street Journal writes this morning that in recent weeks the United States has moved some batteries of Patriots interceptor missiles to Saudi Arabia: it is time for missile diplomacy, alas.
La China it has disappointed those who hoped for a new wave of stimuli on price lists. The reference rate on one-year loans was confirmed at 3,7%. In recent days, after the pro-market statements made by Deputy Prime Minister Liu He, someone had considered the possibility of cutting the cost of money.
The CSI 300 index of the lists of Shanghai and Shenzhen it is down by 0,6%, on the day the lockdown in the technology capital ends. Evergrande, the sick brick colossus, is suspended in communications surrender.
Closed Tokyo for the spring festival (day dedicated to visiting cemeteries), it lost 0,4%. The latest trade balance data released tonight highlight a worrying increase in the cost of fuel imports and a decline in exports, penalized by the stop on car sales in Russia.
Il dollar it appreciates this morning on the main Asian currencies, especially on the South Korean won and the Indian rupee. Euro dollar down 0,2%, to 1,104. The Treasury Notes at 2,14%, little moved.
The index Bloomberg Commodities opens up 1,3%, to 125 points, from -2,4% last week. European natural gas, always in the spotlight, ended the week down 19%, at 105 euros per mWh.
Europe is speeding up international negotiations for reduce dependence on Russian gas. Federal Economy Minister Robert Habeck (Greens) is considering opening a new strong commercial link with Qatar, the world's leading exporter of liquefied natural gas.
The war is raging, but Europe is making the first calculations on the economic cost of the conflict. Today the Germany announces producer prices for February, Wednesday will be the turn of Britain, which will also publish inflation data. Also expected on Wednesday is the preliminary consumer confidence index for the Eurozone in March.
But the first reliable test will come on Thursday with the publication of data on the performance of the indices on themanufacturing and service activities in February. Reuters expects the Eurozone to fall to 53,8 points (from 55.5). But quite a few economists believe that the decline in the economic situation has been much heavier, so as to push the index below 50, the borderline of the recession. The next day, the Ifo, the indicator of German business confidence, will be released. A drop of at least five points is estimated.
The numbers on the impact of the war on the economy come at a time of strong contrasts at the top of the ECB. Christine Lagarde, who will speak this morning, has already underlined that the central bank is ready to review the decision to cut growth stimulus in the face of worsening data. However, a part of the directorate insists on speeding up the fight against inflation. An indication of the bank's guidelines will arrive on Thursday with the publication of the ECB's economic bulletin.
But the financial community is also focused on the major diplomatic appointments of the week. The wait is all for the European Council scheduled for Thursday and Friday, preceded by the NATO summit. The big news this time is that US President Joe Biden will also participate on Thursday the 24th. A sign of support and cohesion with the European allies.
A Moscow, having avoided default for now, the financial market partially reopened this morning. The share listing remains suspended, but trading on government bonds resumes.
Urgent information is expected in Montecitorio on Tuesday Roberto Cingolani on energy cost increases and on the measures taken to counteract their effects, after the government passed a decree on Friday that aims to mitigate price increases, which was hotly contested by Confindustria, which is more sensitive to public energy giants than to manufacturing companies.
Once the central bank appointments have been filed, the stock exchanges are called to confirm whether last week's sprint (the best since 2020 for the Nasdaq) marked the end of the declines, or, as seems more likely, whether it was a violent reaction oversold technique.
On the corporate front, they're settling accounts on Wall Street tonight Nike, an excellent indicator of the trend in consumer demand. Attention Thursday to the budget of Nio, among the greats of the Chinese electric car.
On the front of the accounts of Piazza Affari, the quarterly reports of will arrive on Tuesday Italian post, Wednesday will be the turn of Hera, Thursday that of Exor e Daimler Truck Holding, while Friday Saipem will present its strategic plan.
Today the board meetings will be held Rcs Media Group, Finnat Bank, PharmaNutra, and Dry.
Standard's & Poor's upgraded its long-term credit rating by Stellantis to “BBB” from “BBB-”, stable outlook. The decision reflects the assessment that the group's cost flexibility will be able to partially offset the impact of higher supply disruptions in 2022 and 2023. The upgrade follows "the group's solid performance in 2021". despite the chip crisis.
