Political crisis destroys Piazza Avari (-3.4%). Spread at 223 pips

Political crisis destroys Piazza Avari (-3.4%).  Spread at 223 pips

(Il Sole 24 Ore Radiocor) Closure for European stock exchanges But above the bottom of the sitting, with Milan black jersey burdened by the internal political crisis. In Avary Arena, the Ftse Mib lost 3.44%, the lowest level since mid-November 2021 with the fourth negative session, when the Cac40 in Paris fell by 1.41% and in Frankfurt the Dax40 by 1.86%. As for other European stock exchanges, the Aex in Amsterdam fell by 0.93%, the Ftse100 in London by 1.63%, and Ibex35 in Madrid by 1.87%, while in Milan the Ftse All Share lost 3.29%.

US inflation continues to weigh on, and economic concerns

Stock markets are still weighed down by yesterday’s US inflation data, which rose to its highest level since 1981, and are starting to rule out the possibility – considering a 75 basis point rise at the next Cabinet meeting. Federal Reserve The US central bank could be more aggressive and move forward with a 100 basis point increase. And only today, Christopher WallerThe Fed member, said he is ready to consider a rate hike “bigger” than the 75 basis point increase decided in June to tackle inflation. Meanwhile, the quarterly season has begun in the United States and the accounts of the first two major banks – JP Morgan and Morgan Stanley – They disappointed expectations. This morning, then The European Union Commission revised downward estimates for eurozone GDP and raised those for inflation. For Italy in 2022, growth is expected to grow by 2.9% (a positive number), while in 2023 the estimate drops to +0.9%, lagging behind the Eurozone.

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Draghi gathers his confidence in the Senate and goes to Cooley

On the political front, de LA AUTI moved to the Senate with confidence, but the Five Stars, as it was announced, did not vote, and the Prime Minister, Mario Draghi, gave an interview for about an hour with the President of the Republic, Sergio Mattarella. Against this background, the spread between BTp and 10-year notes also touched 228 basis points before closing at 223, when the euro fell below the level with the dollar before recovering. Down Wall Street too, when the quarterly season for the “big” American banks began. On the macro front, the weekly orders of unemployment benefits An increase of 9,000 to 244,000, according to the Labor Department; Expectations were for a figure of 235,000. This is the largest number recorded since November 2021. Producer prices in June rose 1.1%, above estimates.

Saipem is trying to recover poorly for the banks

In Avary Square, among the addresses, Saipem It sought a rebound (+5.69%). resist ampliphone (+2.06%) with St (+0.32%), after Taiwanese Semiconductor Manufacturing (Tsmc), one of the world’s largest chip giants and major supplier to Apple and Qualcomm, announced above-expected second-quarter results and raised revenue guidance. Opposite the banner for the banking, financial and energy sectors, in a generalized sales session. Tim With a decline of 6.4%, it recorded the worst performance among the largest capital stocks. The banking sector was among the most sanctioned sectors, with Bper (-6.17%) and Unicredit (-6.11%) at the bottom of the main segment, when Intesa Sanpaolo lost 5.54% and Banco Bpm 5.54%.

Negative energy and finance session

Also strong sales on Enel (-5.7%), in a weak session for many financial stocks: Finecobank – 5.07%, Mediobanca -4.7%, Unipol -4.39% and Nexi -4.22 for a hundred. Other managed assets are also shown in red: Banca Generali -4.12%, Azimut -4.07% and Banca Mediolanum -3.54%, after the first rating assignment by S&P (BBB with a positive outlook). Poste Italiane, which is linked to the asset management segment, lost 5.08%. Facilities with Sanam (-4.39%) and Terna (-4.26%), were also damaged, when Eni left 4.25% and Tenaris 4.04% on the ground, thanks to weak crude oil.

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