Piazza Affari returns to decline with the boom in US employment

Negative closing of the week for Piazza Affari and most of the European stock exchanges, after the collapse of the Asian stock market. Overall investor sentiment turned negative again, following good news of uncertainties over the Fed’s interest rate moves and the possible easing of Covid restrictions in China.

Indeed, in November 263 thousand jobs were created in the United States, more than the 200 thousand expected by analysts and this could push the Fed to continue with aggressive monetary policies. According to Filippo Diodovich, senior market strategist at IG Italia, the reaction on the markets has been significant because now for investors the chances of a rate hike contained to 50 basis points are much less than before. At the same time, however, Putin has once again opened up to peace talks with Ukraine, even if the basis for a possible agreement, according to the Kremlin, is hampered by the positions of the United States.

In Milan, the Ftse Mib lost 0.26% and closed at 24,414.63 points. The spread between BTPs and German Bunds rises, but remains within 190 basis points. The yield on ten-year bonds also rose, around 3.8%. Amplifon (+3.22%), Banca Generali (+2.38%), Azimut (+1.86%), Campari (+1.99%) and Fineco (+1, 94%).

At the rear, however, Tim (-2.06%), after the strong volatility of the last two sessions, with the now practically certain exclusion of a total takeover bid. Stellantis then loses 2.05% despite the data on November registrations growing compared to the same period of 2021. Oil companies are also bad, given the drop in the price of crude oil. Eni loses 1.40%, Tenaris 1.65%. (in collaboration with Money.it)