Piazza Affari in red, fear returns over the moves of the ECB and the Fed

Negative closing of the week for the European Stock Exchanges. US personal spending prices rebounded in January, up 5.4% year over year. For this reason, investors expect a continuation of the monetary tightening by the Fed and, therefore, also by the ECB. For Thomas Tilse, Head of Portfolio Strategy Private Clients at AllianzGI, however, if there is not an immediate sharp drop in production activity and the price level continues to slow down, Europe could continue to grow despite fears of a global recession and equity weakness relative to the US may be less than expected.

At the TTF in Amsterdam the price of gas is falling, but is still around 50 euros per megawatt hour. Oil continues to rise, with Brent and Wti growing by about 1%. In Milan, which fares better than in France and Germany, the Ftse Mib loses 1.07% and closes at 26,986.35. The spread between the Btp and the German Bund increased, moving at 184 basis points. The yield on ten-year bonds also grew, around 4.4%.

On the main list of Piazza Affari, Saipem (+1.96%) and Tim (+1.36%) did well. The telephone company’s board of directors met today and decided, with regard to the non-binding offer received from Kkr for NetCo, to ask for further explanations to understand the assumptions and economic values ​​of the proposal. The goal is to receive an improved offer by March 31st.

On the other hand, Eni (-1.24%) is behind. There are investment banks that have revised the target price for the six-legged dog downwards, after the update of the business plan to 2026. Bper (-2.31%), Diasorin (-2.37%), Interpump (-3.59%), Pirelli (-3.75%) and Iveco (-2.56%). (in collaboration with Money.it)