Inflation in the US slows on an annual basis but increases on a monthly basis.
Consumer prices in January rose annually by 6.4%, compared to 6.5% in December, while monthly prices increased by 0.5%.
In January, the core price index, excluding energy and food, grew by 5.6% on an annual basis and by 0.4% on a monthly basis.
Inflation is therefore slowing down very little on an annual basis for the seventh consecutive month but according to analysts the rise on a monthly basis is worrying, with +0.5% after -0.1% the previous month.
The European stock exchanges confirm the rise
The main European stock exchanges continue to rise after the US inflation data in January, slightly above estimates.
Milan and Madrid rose by 0.7%, Paris by 0.5%, Frankfurt by 0.4% and London by 0.3%. US futures were positive less than an hour after the start.
The differential between German ten-year BTPs and Bunds drops to 176.8 points, with the Italian annual yield down by 2.5 points to 4.14%, while the German one gains 1.2 to 2.378%.
The dollar fell to 0.929 euros, 132.06 yen and 0.818 pounds.
Crude oil dropped (WTI -1.51% to 78.94 dollars a barrel) in view of the advances on US weekly inventories according to the API (American Petroleum Institute).
On the other hand, natural gas increased (+2.11% to 52.8 euros per MWh).
Purchases focus on telecommunications with Vodafone (+4.37%), Bt (+4,
14%) and Telefonica (+3.62%).
Tim cautious (+0.24%) on the day of the Board of Directors on the accounts.
Purchases on oil TotalEnergies (+1.14%), Eni (+0.72%) and Shell (+0.7%), more cautious instead BP (+0.25%), while Saipem rebounds (+1.94 %) after the eve slip.
In no particular order, the banks, with increases for Bnp (+1.75%), Unicredit (+1%) and Intesa (+0.6%), cautious Banco Bpm (-0.05%), instead sell Commerzbank (- 0.35%), MPS (-0.55%) and Standard Chartered (-1.18%).
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55%) and Standard Chartered (-1.18%).
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55%) and Standard Chartered (-1.18%).
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