November 28, 2022

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European stock exchanges are stuck, inflation fears remain high

(Il Sole 24 Ore Radiocor) – The European stock exchanges They chose caution, after tonight’s solid session. Indicators, assessing positively on the one hand the decline in infections in China and positive US data on Tuesday, and on the other dealing with the aggressive tones used by Jerome Powell, are teetering around parity and looking for an opportunity to take firm. Hold on positive, like FTSE MIB Milan, dated CAC 40 Paris, dated DAX 40 in FrankfurtIBEX 35 Madrid FT-SE 100 London andAEX Amsterdam.

Concerns about the trend in inflation and, on the geopolitical front, the war in Ukraine remain on top. On Tuesday, Federal Reserve Chairman Jerome Powell Use ‘hawk’ ringtones especially, noting that the Fed would have to see “clear and convincing” evidence of low inflation, or else the central bank would have to act “more aggressively”. On the energy front, the European Union Commission presents the second part of the plan to strengthen the Union’s energy security and accelerate renewable energy. Signs of weakness also came from the Japanese economy, where GDP fell 1% in the first quarter, amid rising energy prices and the resumption of the pandemic.

In Milan, eyes are on the Generali, with Mediobanca at the rear

On Milan shares, data public which will be announced on Thursday morning. Cattolica Asicurazione And Trevi Vin. The meeting is also scheduled Pirelli and C. Well buy utilities with Hira And In the Among the best, among the banks that have arisen Pop eh bank And Banco Bpmwhile the best title is Saipem. At the end of the price list Leonardo – Finmeccanica And Mediobanca, with press rumors talking about the ECB stopping in Delphine rallying more than 20%. Shop on Sweatwhich is touching new historic highs: While interest in renewables remains high, the potential interest of Australian Ifm Investor Pty to acquire a minority stake in the company is back in circulation.

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The spread moved slightly in the area of ​​190 pips

The trend was not very smooth as the spread between BTp and Bund remained close to Tuesday’s values ​​with Italian 10-year bond yields falling in part after the jump that brought the price back one step away from the 3 per cent threshold. The yield differential between the ten-year BTp benchmark (Isin IT0005436693) and the same German maturity is actually quoted at 190 basis points, from 191 points recorded at the previous close. The yield of the benchmark ten-year BTp fell slightly to 2.96% from 2.97% at the end of the previous day.

Euro is down, oil is up a little

In the foreign exchange market, after the dollar’s eve dips, the dollar started to rise again while the euro fell to $1,052 (from 1.0534 last night). Euro / yen at 135.83 (from 136.27), dollar / yen at 129.14 (129.35).
Oil prices rose, with expectations of a recovery in Chinese demand and with US data showing a drawdown in inventories: Brent crude in July was trading at $112.03 a barrel (+0.16%), and WTI for June at $112.84 (+0.39%). Natural gas decreases by 0.7% in Europe at 93.5 euros per megawatt-hour.