Contrasted session for the European stock exchanges. In the Eurozone, economic sentiment was not convincing, showing stagnation from March to April. The US economy, meanwhile, is slowing down. After the US data, therefore, investors’ attention is focused on the upcoming decisions of central banks on interest rate hikes. In Italy, fears about the unsustainability of the debt are once again darkening the national economic scene. The Treasury, meanwhile, has issued 5 billion Btp at 10 years and 2.5 billion of the bond at 5 years.
At the TTF in Amsterdam, the price of gas rose to around 39 euros per megawatt hour. The price of oil is stable, with Brent and Wti not changing particularly. In Milan, the Ftse Mib closes positively: it marks an increase of 0.19% to 27,158.00 points. The spread between the Btp and the German Bund is up, moving around 190 basis points. The yield on ten-year bonds also increased, to around 4.35%.
The banks are doing well on the main listing of Piazza Affari, attempting to rebound after yesterday’s negative data due to the new difficulties of the First Republic. Unicredit gains 3.54%, Bper 4.00% and Banco Bpm 2.59%.
In the queue, however, Stm (-8.72%). The company presented the accounts for the quarter with increasing revenues and margins. Compared with October-December 2022, however, the turnover decreased by 4%. Tenaris (-3.57%), Eni (-1.92%) and Saipem (-1.03%) are also bad, given that the price of crude oil in New York (contract expiring in June 2023) remains below $75 a barrel. (in collaboration with Money.it)
Source-www.adnkronos.com