Slightly negative day for the European Stock Exchanges. While awaiting the next pronouncements on Wednesday and Thursday by the European and US central banks, investor confidence is diminishing, given that Spanish inflation started to rise unexpectedly again in January, while producer prices are growing in Italy. In short, at least the ECB could not review, but rather continue with the hard line on its restrictive monetary policies.
The data on Germany’s GDP for the fourth quarter, which fell by 0.2%, is also worrying. Fears of an aggressive ECB are boosting government bond yields. While attention remains high for the evolution of the war in Ukraine and for its repercussions on the energy crisis, then, gas at the TTF in Amsterdam drops again, below 55 euros per megawatt hour. Therefore, the price of oil is also down, with Brent and Wti slipping by around 0.3%.
In Milan, the Ftse Mib lost 0.38% and closed at 26,335.98. The spread between BTPs and German Bunds is up, around 192 basis points. The yield on ten-year bonds also grew, around 4.18%. Tim did well on the main stock exchange on Piazza Affari, gaining 4.64%. There is talk of a possible offer from Cassa depositi e prestiti by the end of February, with a valuation of around 24 billion euros, but Vivendi denies it and blocks the hypothesis.
Good results also for Recordati (+1.20%) and Saipem (+1.15%). Well, then, some banks, supported by the prospect of an aggressive ECB: Unicredit rises by 0.24%, Banca Mediolanum by 0.83%, Mediobanca by 0.36%. At the bottom, however, Hera (-2.07%), Interpump (-2.22%), A2a (-1.35%), Iveco (-1.61%), Stellantis (-1.21%), Enel (-0.95%) and Tenaris (-1.52%). (in collaboration with Money.it)
