Piazza Affari returns to close in negative, on a day in which volatility prevails and the attempt to raise all the European stock exchanges runs out very quickly. Uncertainty weighs on Wall Street, where investors are pretty sure about the Fed’s 75bp interest rate hike next week.
According to ActivTrades analyst Pierre Veyret, “the mood remains clearly bearish, relative to US inflation data, at least in the short term.” But more generally, “the markets seem torn between negative sentiment supported by persistent macro threats, and falling buyers on the other, who continue to bet on peak inflation.”
The Ftse Mib loses 0.21% and closes at 22,365.82 points. The spread between BTPs and German Bunds does not move that much, still traveling below 230 basis points, while the yield on the ten-year bond is still below 4%. Bankers are saved on the main index of Piazza Affari, with many positive results. Banco Bpm earns 1.85%, Fineco 0.71%, Intesa Sanpaolo 1.04% and Unicredit 0.90%. In contrast, however, Banca Generali (-1.92%), Banca Mediolanum (-3.75%) and Mediobanca (-0.30%). The best result is instead that of Inwit (+ 4.56%). According to press leaks, Global Infrastructure Partners and Kkr are among the private equity funds that would be interested in buying a stake in the Vodafone towers, partly controlled by Inwit.
For the rest, negative closures for oil, given the lowering of the value of crude oil in New York. Therefore, Tenaris (-2.21%), Saipem (-3.07%) and Eni (-2.29%) lost ground. Moncler (-2.69%), Campari (-3.77%) and Tim (-2.74%) are also bad. The latter suffered the cut on the target price by HSBC analysts, who worsened the judgment from “buy” (sell) to “hold” (keep). (in collaboration with Money.it).