Borsa Milano today, Piazza Affari continues to rise

Clash over the new EU fund

Day in chiaroscuro for the European Stock Exchanges, still fearful with respect to the moves of the central banks and given the doubts on the economic prospects of the main Western countries. According to the president of the Bundesbank, the “hawk” Joachim Nagel, further “significant” increases in interest rates by the ECB are needed. The focus in Europe is then on the new possible common anti-inflation fund and the new rules on state aid to deal with the United States’ IRA plan. The discussion between the 27 becomes bitter, with Germany and France seeking the solitary path against the countries of the South and the North. In Berlin, industrial production in December fell more than estimated.

At the TTF in Amsterdam the price of gas is decreasing, which is around 55 euros per megawatt hour. On the other hand, the value of oil rose, with Brent and Wti rising by around 1%. In Milan, the Ftse Mib rose by 0.36% and closed at 27,118.74. The spread between German BTPs and Bunds is also growing, around 178 basis points. The yield on the ten-year bond also rose, in addition to 4.19%.

Tim did well on the main stock exchange on Piazza Affari (+2.26%), with Equita analysts raising the target price to 0.41 euros and moving the recommendation from Buy to Hold. Snam (+0.86%), Italgas (+1.26%) and Terna (+1.28%) also rose, with Royal Bank of Canada analysts raising the target price. Fineco therefore rose (+1.65%), after the publication of the 2022 accounts, in which the bank recorded a record net profit of 428.8 million, up 22.8% on 2021.

At the bottom, however, Amplifon (-2.46%), Buzzi Unicem (-0.86%), Campari (-1.27%), Interpump (-1.46%), Pirelli (-2.21%) and Prysmian (-0.77%). (in collaboration with