September 30, 2022

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Stock markets today september 13th. US Inflation Kills Lists: Europe in Red, Wall Street Crash

EU stock exchanges proceed with caution

European stock exchanges are under the banner of caution with the spotlight on US inflation, the last important data before the Fed meeting. It is expected to slow to 8.1% (from 8.5%) which should not have a significant impact on the US central bank’s decision to raise interest rates by 75 basis points.

The pan-European index, the stoxx 600, edged up 0.25% with stocks related to consumer goods and health in the spotlight as energy, financials and real estate all slipped.

Among the odd squares, Milan scored +0.05% (Ftse Mib 22,594 points) with Mps always under the lens, and between Stop & Go theoretically earns +3%. Frankfurt posted +0.02% waiting for the Zew index while coordinated inflation was confirmed in August at 8.8 from 8.5 in July. The Paris index rose to +0.35% while the London price settled at -0.01%.

The rise and fall of the spread. The spread between the BTP and the Bund is back in the region of 227 pips with the Italian ten-year yield falling to 3.93%. Gas confirms landing, awaiting EU energy package. The boxes are set at €183 per megawatt-hour (-4%). Oil is up with WTI over $88 a barrel (+0.9%) and Brent crude close to $95 a barrel (+0.86%).

The frontal exchange rates for the euro continue to rise against the dollar, which is trading at 1.014.

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