Positive day for the European stock exchanges, with investors moved by the hope that the signs of a slowdown in inflation and in the European economy could lead the ECB and the Fed to mitigate their monetary policy. In short, it is hoped that the increases in interest rates will be limited from now on and we will be moving towards the end of the restrictive operations. For Pierre Veyret, technical analyst at ActivTrades, the market correction seen in February can then only be a temporary turbulence within a broader uptrend.
At the TTF in Amsterdam the price of gas falls, now around 45 euros per megawatt hour. Oil continues its recovery, with Brent and WTI growing by more than 0.6%. In Milan, the Ftse Mib gains 1.56% and closes at 27,825.08. The spread between BTPs and German Bunds rises, moving below 180 basis points. The yield on the 10-year bond also fell, around 4.55%.
Prysmian performed well on the main stock exchange on Piazza Affari (+4.29%). The company has announced that it has been awarded two contracts worth almost 2 billion euros, awarded by the Dutch transmission system operator TenneT for two electricity grid connection projects. Boom of Inwit (+8.17%), after the financial results of 2022. The year closed with growing revenues and profitability. Stellantis then rose by 2.89% after Rbc Capital analysts improved their opinion on the automotive giant: at this point they recommend buying the shares, based on a target price of 19 euros. At the bottom, however, Saipem (-2.15%) and Campari (-0.46%). (in collaboration with Money.it)
