European stock exchanges start to rise again. The markets are looking at a series of macroeconomic data, with fears of further interest rate hikes by central banks, the Fed and the ECB. In fact, the European and US economies are improving and the scenarios are more positive than a few months ago, but inflation, which is not falling rapidly, still frightens everyone.
At the TTF in Amsterdam the price of gas, in decline, is around 52 euros per megawatt hour. The value of oil continues to decline, with Brent and Wti decreasing by 0.2%. In Milan, the Ftse Mib gains 1.16% and closes at 27,853.74. The spread between BTPs and German Bunds is down, around 176 basis points. The yield on the 10-year bond is growing, hovering around 4.34%.
On the main list of Piazza Affari, Tenaris flies (+8.04%), after the presentation of the 2022 accounts: in the year, revenues amounted to 11.76 billion dollars, with a leap of 80% on the previous exercise. Net income for 2022 also grew compared to the previous year, marking $2.55 billion.
The gains of Pirelli (+3.36%) also stand out, on rumors of a reorganization with the Chinese company Sinochem Holdings which wants to sell its 37% stake and Leonardo (+2.25%) while the race continues by Tim (+2.48%). Banks also rose with Unicredit ‘pink jersey’ at +4.26% while Bper grew by 3.12% and Intesa Sanpaolo rose by 2.24%. Among the few reductions Inwit (-0.81%), Enel (-0.24%) and Generali (-0.22%). (in collaboration with Money.it)