Milan Stock Exchange today, Piazza Affari down. Weighs the hold of Lagarde (ECB)

Negative session for the European stock exchanges, with the markets weighed down by Christine Lagarde’s words on the rise in interest rates to curb inflation and by the contents of the ECB minutes. Yesterday, inflation in the Eurozone showed signs of slowing with an annual increase of 6.9%, but has not yet convinced with the core index, which remains high. Investors then look to the first results of the quarterly season to gauge the health of the economy.

At the TTF in Amsterdam, the price of gas is set at around 40 euros per megawatt hour. The price of oil also fell sharply, with Brent and Wti decreasing by around 2%. In Milan, the Ftse Mib closes negative: it marks a decrease of 1.10% to 27,627.12 points. The spread between BTPs and German Bunds is stable, moving around 180 basis points. On the other hand, the yield on the ten-year bond decreased, around 4.32%.

Saipem performed well on the main stock exchange in Piazza Affari (+1.49%). The company has released its financial results for the 1st quarter of 2023, a period closed with an improvement in turnover and profitability. Then the shares of Bper (+0.34%) and Terna (+0.96%) rose.

In the queue, however, Stellantis (-5.41%). The company has announced that Natalie Knight will replace Richard Palmer as Chief Financial Officer no later than July 10 next. Down Erg (-2.37%), Fineco (-2.95%) and Tim (-1.57%), in the spotlight after the strong correction suffered in the last session. Pirelli (-2.40%) and Stm (-3.74%) are also bad. (in collaboration with