Positive day for the European Stock Exchanges, with all the main lists of the Old Continent recovering a climate of cautious optimism. Investors are now betting on less aggressive decisions by the central banks of the United States and the European Union. In short, interest rates could rise less than expected, although they certainly will not fall quickly.
The price of oil rose, with Brent and Wti rising by more than 1%. On the other hand, gas at the TTF in Amsterdam dropped considerably, at around 65 euros per megawatt hour. The price of gold also rose, driven by the drop in the dollar which makes the metal a more attractive safe haven asset. On the currency front, the euro is strengthening precisely against the greenback.
In Milan, the Ftse Mib rose by 0.72% and closed at 25,546.86. The tension on government bonds is still decreasing. In fact, the spread between BTPs and German Bunds drops to around 186 basis points. The ten-year bond yield falls again to 4%. On the main price list of Piazza Affari, oil products are positive. Eni gains 1.90%, Tenaris 1.20%. Utilities also performed well, starting with A2a (+3.60%) and Hera (+5.48%), as well as Iveco (+5.20%).
At the bottom of the list, instead, Unicredit (-1.49%). The institute has issued a one billion euro senior preferred bond with a 6-year maturity and the possibility of early repayment after 5 years, obtaining demand for over 2.85 billion euro. Amplifon (-4.25%) and Saipem (-4.09%) were also bad. (in collaboration with Money.it)