Positive closing of the week for European stock exchanges, with a cautious rebound after Christine Lagarde yesterday explained that the European Central Bank will continue with its restrictive monetary policies, raising interest rates. You reiterated the same today from the Davos forum, where you explained that the possible Chinese growth above expectations, together with the massive purchase of LNG by Beijing, will determine greater inflationary pressures.
Gas at the TTF in Amsterdam rises above 65 euros per megawatt hour. Oil also rose, with Brent and WTI continuing in the wake of an upward trend. Tension, then, on European government bonds, given the bleak prospects of the EU economy and the restrictive monetary policies, with the cut in purchases of bonds and BTPs arriving in Europe.
In Milan, the Ftse Mib gains 0.70% and closes at 25,775.52. The spread between German BTPs and Bunds rose sharply, around 185 basis points. The yield on the 10-year bond is also growing, reaching almost 4%. Some banks are doing well on the main list of Piazza Affari. Bper earns 1.91%, Unicredit 2.31%. On the other hand, Intesa Sanpaolo is down (-1.91%).
Leap for Saipem (+8.56%). The company announced that it has been awarded two offshore contracts for a total amount of almost 1 billion dollars. Generali also performed well (+2.25%). which announced the launch of the buyback of treasury shares to service the “2022-2024 LTI Plan” and the group incentive and remuneration plans currently being implemented. The transaction concerns the purchase of a maximum number of treasury shares for 10.5 million.
At the bottom, then, Amplifon (-2.72%). Equita sim analysts reduced the target price of the stock to 29 euro after the revision of the financial estimates for the 2022 financial year. (in collaboration with Money.it)
