Milan Stock Exchange, Piazza Affari down today: fear of the ECB’s moves

The Ftse Mib loses 1.19% and closes down at 21,302.16 points

Sales to Piazza Affari continue, in the wake of the negative data from Wall Street and the fear of a significant rise in interest rates by the ECB, as well as the risks of recession linked to the energy crisis and inflation. After yesterday’s bad result, the Ftse Mib loses 1.19% and closes down at 21,302.16 points. The spread between German BTPs and Bunds also rises, traveling around 235 basis points. During the day, then, the yield of the ten-year BTP exceeds the 4% threshold for the first time since June 13, and then falls slightly.

On the main Milan price list, there is still tension on energy stocks, which suffer the drop in the price of gas and oil. Eni continues its decline (-0.69%) after the 3.50% drop recorded yesterday. The company announced that it had paid another 340 million euros as a “down payment” for the 25% tax on extra-profits, but revalued the total amount of the contribution for the state to 1.4 billion.

For the rest, Interpump (-3.62%), Saipem (-2.45%), Azimut (-2.16%), Exor (-2.92%), Leonardo (-3.35%), Enel slipped (-1.13%) and Stellantis (-1.68%). Banking is also bad: Banca Generali loses 2.08%, Mediobanca 2.35%, Intesa Sanpaolo 1.69%, Unicredit 1.09% and Banco Bpm 1.61%. Bper, therefore, falls by 1.39% after the ECB, following the acquisition of Banca Carige, notified it of an update of the decision regarding the requirements to be met. Bper will have to comply with a new requirement, on a consolidated basis in terms of Cet 1 ratio, equal to 8.47% compared to the previous 8.29%.

On the other hand, Tim (+ 0.58%), Unipol (+ 0.17%) and Hera (+ 0.04%) are saved. (in collaboration with