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UBS maintains a "Buy" rating on STMicroelectronics with a target price of 34 euros, citing credible medium-term targets despite a focus on short-term recovery. Meanwhile, the DAX index closed lower amid mixed performances in tech and automotive sectors, while geopolitical tensions are raising concerns for financial stability. The ECB warns of potential distortions in global trade, and the Atlanta Fed predicts stable low inflation for US companies in the coming year.
Von der Leyen is considering a significant reshuffle to enhance her control over the EU budget. Meanwhile, outgoing commissioner Gentiloni advocates for reforms and investments to sustain growth, as the EU pushes for gradual spending cuts to avoid a repeat of austerity measures. Additionally, the commission is looking into transferring Russian assets to secure a €45 billion loan for Ukraine, aiming to shield Euroclear from potential retaliation from Moscow.
President Macron and Chancellor Scholz face political challenges as the EU Commission, led by Ursula von der Leyen, grapples with internal conflicts over new commissioner appointments. The hearings for candidates Raffaele Fitto and Teresa Ribera are critical, with potential delays jeopardizing von der Leyen's fresh start amid rising tensions with the incoming Trump administration. The EU needs a strong voice to navigate trade policy and transatlantic relations effectively.
Italy's economy is facing significant challenges, with growth expected to fall below government targets and manufacturing turnover declining sharply. High electricity costs and a global industry slowdown contribute to the crisis, while employment figures mask underlying productivity issues. The National Recovery and Resilience Plan's unclear execution raises concerns about the country's economic future.
Raffaele Fitto
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The information provided herein is generated by experimental artificial intelligence and is for informational purposes only.
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