Wall Street expects negative Europe

European stock markets remain in negative territory ahead of Wall Street, where futures fall. Markets are concerned about central banks’ reluctance to cut interest rates and China’s economic growth. Government bonds showed little movement, the spread between BTPs and federal bonds was 156 points and the yield on the ten-year Italian bond was 3.85%. The Stoxx 600 index lost 0.2%. Madrid (-1%), London (-0.4%), Frankfurt (-0.3%), Paris and Milan (-0.2%) are in decline following the collapse of industrial production in December. The main European price lists are weighed down by energy (-1.7%), according to the quarterly reports of some big names in the sector and due to the rising oil price. WTI rose 0.6% to $73.7 a barrel. Brent rose 0.6% to $79. Among equity sectors, banks (-0.9%) and utilities (-0.5%) also fell, the latter on rising gas. In Amsterdam, prices rose by 0.3% to 28.7 euros per megawatt hour. Cars are racing in the Old Continent (+1.5%), with the market speculating on the hypothesis of consolidation in the sector with Renault (+2.5%) and Stellantis (+2.4%). The luxury sector is positive (+0.6%) while analysts expect the sector to recover in China. MPS flies in Piazza Affari (+4.3%), with the balance sheets for 2023 and the return of the coupon after thirteen years. Ferrari (+2.1%) and Fineco (+1.9%) stand out. Intesa is at the bottom of the main list (-2.8%). The other credit institutions also performed poorly with Banco Bpm (-1.7%), Bper (-1.3%) and Unicredit (-0.3%). Tim moved little (+0.07%) after the Brazilian balance sheet is in and he waits for the board to consider the Mef’s offer for Sparkle.