Inflation doesn’t go down, but Piazza Affari holds

Day in chiaroscuro for the European stock exchanges, affected by the inflation data in February in Spain and France. Surprisingly, the consumer price index is growing instead of decreasing, despite the fact that gas has remained at stable low values ​​since the beginning of December. Investors therefore fear that interest rates could be even higher than expected in March and some forecasts are now also talking about a possible 4% decided by the ECB in a few days.

At the TTF in Amsterdam the price of gas is stable, around 47 euros per megawatt hour. Oil rises, with Brent and Wti growing by about 2%. In Milan, the Ftse Mib gains 0.12% and closes at 27,478.37. The spread between BTPs and German Bunds is decreasing, moving around 176 basis points. The yield on ten-year bonds rose sharply, around 4.5%. Bankers are doing well on the main list of Piazza Affari. Intesa Sanpaolo gains 1.13%, Unicredit 1.42% and Banco Bpm 1.00%. Saipem also increased (+2.78%), which communicated the preliminary financial results for 2022, the year closed with an improvement in turnover and profitability.

In the queue, however, Stellantis (-0.47%), after the announcement of 2,000 exit incentives in Italy this year and the investment of 155 million dollars in Argentina for a project to purchase 14.2% in McEwen Copper, with copper supplies in the foreground. Hera (-1.33%), Terna (-1.49%), Italgas (-1.64%) and Amplifon (-1.26%) were also bad. (in collaboration with
Money.it
)



Source-www.adnkronos.com