Every day from Monday to Friday, we offer you a selection of financial news from the leading Italian financial magazines.
Here is an overview today, May 13, 2022
Crypto collapses. Male Bitcoin, Ethereum, Dogecoin
- In intraday trading on Thursday, Bitcoin fell to $ 26,350.49 and ETH reached $ 1,748.30 due to a crash in the cryptocurrency market.
- Over $ 200 billion was wiped out of the crypto market in a single day; in fact, investors fear the repercussions caused by the loss of anchoring to the dollar USD mark (FSO) and its implications for the price of Bitcoin.
- The panic only got worse when Tether (USDT), the largest stable currency by market value, has begun to lose its peg to the dollar; investors began to redeem the dollar currency.
- Edward Moya, senior market analyst at OANDA, said that “we are nearing the end of market sales”; he added that Bitcoin’s recovery “will not hold if risk appetite does not stabilize soon”.
- At the time of publication, equities, with futures on the S&P 500 and Nasdaq indices, rose 0.6% and 0.9%, respectively; The 10-year government interest rate fell by 7.1 points to 2.843%, in a recession that worried investors, according to a Reuters report.
Alibaba and Nine on Rise: What’s Happening in Hong Kong?
- Technology stocks such as Alibaba Group Holding Ltd (NYSE: BABA), JD.Com (NASDAQ: JD), Tencent Holdings (OTC: TCEHY) e Baidu Inc. (NASDAQ: BIDU) noted increases of up to 6%; in the electric car segment, Xpeng Inc (NYSE: XPEV) led the rally, followed by Nio Inc (NYSE: NIO).
- At the time of publication, the Hong Kong Hang Seng Index was up about 1.83% on positive signals from global markets.
- US indices closed Thursday’s session mixed; in other markets, the Japanese index Nikkei 225 had an increase of almost 2.61%, the Australian ASX 200 rose 1.40% and index SSE Composite Shanghai rose 0.31%.
The sun 24 hours
Italy, target of 500 thousand births
- Italy risks losing 5 million inhabitants over the next thirty years, falling below 55 million as in the early 1970s.
- The average number of children per woman, today equal to 1.2, requires urgent and long-term measures, according to future data illustrated by Istat President Gian Carlo Blangiardo. 5 million fewer citizens means 52% of the working-age population, forced to support both under 16s (16%) and pensioners (32%).
- France may also show the way for Italy, which has a similar population but twice as many newborns.
- The goal for Italy will be to reach the threshold of 500,000 newborns per year in 10 years.
Gazprom closes Yamal-Europa pipeline
- While relations between Europe and Russia are deteriorating day by day, the blockade of transit in the Polish part of Yamal-Europe was announced yesterday. This is the main road for Russian gas that comes from Arctic fields and goes to European markets.
- Yamal-Europa transports one-sixth of European imports from Russia, or 33 billion cubic meters per year.
- Now there is a risk that Moscow will suspend deliveries to Finland due to the country’s decision to join NATO.
Trento is investing 930 million in high-speed trains
- In anticipation of the last formal step, namely the services conference, Trento is getting closer and closer to the realization of a basic infrastructure project such as high-speed.
- A railway bypass is planned to move freight train traffic away from the city center, bury the city railway and restore the 16 hectares currently occupied by the tracks to create a large linear park.
- 1.3 billion resources will be allocated to the region for 51 investments and reforms in the areas of digitalisation, health, sustainable mobility and tourism to be implemented by 2026.
MF – Milan Finance
The only network has been unlocked
- Closed the trade agreement between Open Fiber and Fibercorp for the creation of the only network.
- The signing of the MoU (Memorandum of Understanding) between Tim and CdP is expected between Tuesday and Wednesday.
- The contract will allow Open Fiber to use the flight infrastructure and connections up to customers’ homes, for a total countermeasure of over 200 million. Kkr, a shareholder with 37.5% of Open Fiber, expresses dissatisfaction with the financial part of the agreement.
Vodafone and Three close to merging in the UK
- According to the Financial Times, the third and fourth British telecom operators are negotiating the details of a merger that would reduce competition in a market that is currently suffering from low margins.
- The significance of the merger is both industrial and financial. However, investors are cautious and the pistons closed unchanged on the stock exchange.