Today’s Stock Exchanges, January 19th. Uncertain markets, record bonds: 600 billion already issued
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MILAN – A weak start is announced for the European stock exchanges, after the mixed session in Asia and with the wind continuing to push bonds: the yield on US Treasuries has fallen to its lowest level since mid-September. In general it was a start to the year with a bang for bonds: as certified by Bloomberg, the excellent trend in quotations prompted the sale of government and corporate bonds on the market. While the market rallied 4.1% – the best year-to-date performance since 1999 – bond issuance was close to $600 billion.
Snam, in the new profit plan +3% on an annual average
Snam’s new strategic plan envisages net profit growth of around 3% on average per year in the period 2022-2026, despite the increase in interest rates.
Snam “will increase investments significantly compared to the past, in order to strengthen our infrastructures and contribute to the greater energy security of the country for the next few years and for the more distant horizon”, says the managing director Stefano Venier. The plan for 2026 provides for 10 billion in investments.
Oil down, euro at 1.08 dollars waiting for Lagarde
Oil prices are trading lower in Asian markets as recession fears fueled by US retail sales and manufacturing production data signaling a slowdown in economic activity, while US crude inventories rose by surprise. Brent futures dropped 1.33% to 83.85 dollars a barrel. Wti US crude lost 1.60% to 78.21 dollars a barrel.
Among the currencies, the euro opens slightly above the edge of 1.08 dollars pending the publication of the minutes of the ECB and the intervention of Christine Lagarde at the World Economic Forum in Davos. The single currency lost ground against the yen at 138.04.
EU futures in red, eyes on the ECB minutes
A negative start is expected for the European stock exchanges after the closure of Wall Street in the red. Investors are looking at the ECB’s next steps and await the indications that will come from the publication of the minutes of the last board meeting. Christine Lagarde’s speech is expected during the day at the World Economic Forum in Davos. Futures on the Eurostoxx 50 drop 0.62%, those on the Dax fall by 0.53% and those on London’s FTSE 100 mark -0.51%
Mixed Asia, Tokyo down sharply
Asian stock markets are proceeding mixed, weighed down by fears of a recession fueled by weak US macroeconomic data signaling a slowdown in economic activity. The Nikkei index in Tokyo ended the session down by 1.44% at 26,405.23 points following the decision by the Boj to maintain its ultra-accommodative monetary policy. The data on the trade deficit, which in 2022 reached record levels, also weighed. The Shanghai Composite Index rose 0.2% while the Shenzhen Composite Index of China’s second largest stock exchange gained 0.54%. Hong Kong’s Hang Seng index, on the other hand, travels below parity.
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