(Il Sole 24 Ore Radiocor) – They move up European stock exchanges In the first session of the week, it is still supported by the positive trend of Banking Services. Without the indicators of the Chinese and South Korean lists, closed for holidays, investors are waiting for the release of new data onInflation in the United Statesscheduled for tomorrow. Continental markets continue to get support in banking sector securities, after Bundesbank President, Joachim Nagel, signaled over the weekend the need for more decisive interventions on the interest rate front. Meanwhile, the Nikkei in Tokyo closed at its highest levels in more than two weeks. The lists are also buoyed by the hope, which apparently has not yet been verified, that Ukraine’s recent military victories can help bring peace with Russia closer. The FTSE MIB In Milan, as well DAX 40 Frankfurt and CAC 40 Paris.
After the massive ECB hike of interest rates by 75 basis points last week, the wait is now Federal Reserve: Investors are now aiming for another 75 point increase, which will be the third in a row, at the FOMC meeting on September 20-21. The strength of the labor market also indicates that the Fed will maintain its aggressive policy, with new claims for unemployment benefits falling for the fourth consecutive week.
Banks are still on the rise, and assets under management are doing well
The increases in banks continue, which last week pushed the jump in the last two sessions: starting at 2 pm on Thursday, September 8, the sector indices rose 7.6% in Milan and 7.32% in Frankfurt. Banks benefit from higher interest rates, which increases their interest margin. But also the decision to increase the interest rate on deposits that the same banks hold with the European Central Bank. This is 670 billion euros that as of Thursday have not generated any returns and are now starting to generate profits for credit institutions in the Eurozone. In Piazza Avari, they are especially visible in the light Pop eh bankAnd the Banco BpmAnd the Unicredit And the Mediolanum Bank And the Finecobank Among the assets under management. in the guide IVECO Group And the Stilantswhen moving below par prismian And the Stmicroelectron.
Single currency regains momentum, gas below 200 euros
In the currency market, the euro rose to a three-week high against the dollar. The single currency is worth $1,0159 from 1,0034 on Friday and 145.17 yen (from 143.03), while the dollar/yen ratio is 142.85 (from 142.54). On the energy front, the price of oil loses due to concerns about the flexibility of energy consumption: November future on WTI drops 0.59% to $ 92.29 a barrel, while October delivery on Brent crude loses 0.76% at $ 86.13. The price of natural gas on the Ttf platform in Amsterdam has fallen to less than 200 euros per megawatt-hour: the October future is down 4.2% to 198.4 euros. On Friday, the European Union energy ministers called on the European Commission to propose measures to reduce expensive energy by mid-September, including setting a ceiling for the price of gas.
High BTp/Bund difference, yield 4.07%
Btp/Bund spreads begin to rise in the context of the general weakness of government bonds in the Eurozone. In the early stages, the yield spread between the ten-year BTp benchmark and the same German maturity widens to 233 basis points, from 231 points overnight. The benchmark 10-year BTp yield also increased sharply, crossing the 4% limit, settling at 4.07% initially, from 4.01% at close overnight.
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