September 27, 2022

Hardwood Paroxysm

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Stocks are cautious on ECB day. Gas drops to less than 200 euros per megawatt-hour

(Il Sole 24 Ore Radiocor) – Caution prevails European stock exchangeswhich gradually lost its momentum after a positive start. The wait revolves around the decisions of the European Central Bank, which according to observers It will raise interest rates by 50 or 75 basis pointsAnd the. But regardless, markets will want to understand the future course of monetary strategy, in light of growth concerns and persistently high inflation.

Today, the US Federal Reserve Chairman is also expected to deliver a speech from Jerome, the number one ranked in the United States Powell. It could also give clues about the future moves of the US central bank, which should raise interest rates by another 75 basis points on September 21st. So the European Central Bank and the Federal Reserve: a Central banks focus that could have an impact on the financial markets.

“The European Central Bank will raise interest rates and the reason is easy to understand: the inflation level in the eurozone is 9.1% and it continues to rise. Core inflation, which excludes volatile components such as food and energy, is 4.3% and is rising as well. The European Central Bank is aiming for 2% inflation, so the current level of interest rates is definitely not appropriate”, confirms Egon AM analysts.

Facilities retreat after tonight’s euphoria

As for the titles, on FTSE MIB weak Exor After calculations that in the first half of the year showed a sharp decline in net profit (-68% to 265 million euros), marine shipping of 25.505 billion (from 31,069 billion on December 31) and net debt of 4.5 billion. Banks support the list with Banco Bpm In light of this, at a time when utilities, parties to the session held on the eve of this, are retreating, in the wake of the blunders over the measures that the European Union is considering on the roofs of electricity prices. weak ternaAnd the italgas And the A2a.

Gas: still falling and falling below €200 awaiting EU cap

And after -11% on the eve of tonight, the price of gas drops again, dropping below the level of 200 euros per megawatt-hour and returning to the values ​​of the first ten days of August. October contracts traded on the Ttf platform in Amsterdam, after the first price of 200 euros per megawatt-hour, fell to a minimum of 196.05 euros and then settled at 199, with some fluctuations around the 200-euro threshold. All this in anticipation of the meeting of EU energy ministers tomorrow, when measures to contain the exorbitant prices should be discussed, with a proposed ceiling for Russian import prices and potential credit lines. emergency energy market operators.