Piazza Affari raises its head despite the chaos in the EU

Piazza Affari, after an uncertain start to the day, turns upwards and the Ftse Mib closes, gaining 1.07%, at 21,701.50 points. The positive trend follows the other European stock exchanges and the American indices, with the spread between German BTPs and Bunds falling to 233 basis points. However, the yield on 10-year bonds is still above 4%. In Europe, meanwhile, there are tensions regarding the price of oil and gas, with prices rising given the divisions in the EU Council on the price cap. In particular, Germany, Hungary and the countries of Northern Europe are opposed to the common methane cap.

In all this, in the United Kingdom, the premier Liz Truss of the conservative party has resigned after the chaos over the proposed fiscal shock policy on taxes and this could cause the pound to strengthen against the dollar and the euro. The US currency simultaneously weakened, with one dollar trading at 1.017 euros and 88.5p.

On the main list of Piazza Affari, Saipem rises strongly (+ 12.96%), after closing a contract worth over 4 billion dollars in Qatar. Jefferies analysts appreciated the news and therefore upgraded the company’s rating from “Hold” to “Buy”, based on a new target price. Stm (+ 2.29%), Moncler (+ 2.18%), Amplifon (+ 4.88%), Diasorin (+ 2.38%), Intesa (+ 2.09%), Eni ( + 1.91%) and Stellantis (+ 1.61%). At the bottom, on the other hand, Poste (-0.33%), A2a (-0.44%), Banca Generali (-0.59%), Enel (-0.99%) and Fineco (-0.20%) . (in collaboration with Money.it)