Positive day for the European stock exchanges, in contrast with the American indexes, which are negative. In the United States, Fed number one Jerome Powell nonetheless sounded balanced, emphasizing that the process of halting inflation is in its infancy and that more interest rate increases will most likely be needed. The ECB could follow the same line, with inflation falling more slowly in Europe, given that it is more linked to the energy crisis than to reasons for an internal imbalance between supply and demand.
At the TTF in Amsterdam the price of gas falls, which is around 53 euros per megawatt hour. On the other hand, the value of oil rose, with Brent and Wti rising by around 0.5%. In Milan, the Ftse Mib grew by 0.16% and closed at 27,160.73. Then, the spread between BTPs and German Bunds increased, around 179 basis points. The yield on the 10-year bond then rose significantly, exceeding 4.25%.
On the main price list of Piazza Affari, Intesa Sanpaolo is tied (+0.02%). Analysts see revenues and profits rising sharply in 2023. Goldmans Sachs increased its target price by 14.5% to 3.55 euros and maintains its Buy recommendation. Also up were Saipem (+5.98%), protagonist of an upward trend that has lasted since last October, Eni (+1.83%) and Tim (+1.91%). The telephone company has released analysts’ estimates on its financial results for 2022, with revenues of 15.67 billion euros, down 1% compared to the 15.83 billion obtained in 2021.
At the bottom, however, Bper (-1.39%) and Banco Bpm (-2.00%). The bank led by Giuseppe Castagna has announced the preliminary results for 2022 and has provided valid financial indications for 2023, which should close with an increase in net profit above 60 euro cents per share. A dividend of €0.23 has been proposed for 2023. (in collaboration with Money.it)
