Bad day for European stock markets, in light of Fed chairman Jerome Powell’s words on interest rates in the Senate committee. The number one of the American Central Bank said that the Institute is ready for new aggressive moves on rates, which should become higher than previously anticipated.
In the meantime, however, in Europe the national statistical institute of the Netherlands corrects its methodology: in the Netherlands the cost of living would have been about half of that published. Other countries may also have reported higher data, prompting the ECB to raise interest rates perhaps more than necessary.
At the TTF in Amsterdam, the price of gas is stable, now around 42 euros per megawatt hour. Oil prices are down, with Brent and Wti significantly down. In Milan, the Ftse Mib dropped by 0.67% and closed at 27,761.57. The spread between BTPs and German Bunds is growing, hovering around 177 basis points. The yield on ten-year bonds also rose slightly, around 4.56%.
Banca Mediolanum (+0.11%), Bper (+0.11%), Moncler (+1.06%) and Unipol (+0.91%) performed well on the main stock exchange in Piazza Affari. In the queue, however, Nexi (-3.07%). The company has communicated the economic and financial data for 2022, the year closed with an increase in revenues and profitability, in line with the consensus of analysts. Tim also fell (-2.29%). Bad, then, Azimut (-1.10%), Erg (-1.25%), Inwit (-3.03%), Saipem (-3.38%) and Stm (-1.78%). (in collaboration with Money.it)
Source-www.adnkronos.com