Positive day for the European stock exchanges, rising after several negative sessions. The positive start of Wall Street and the fall in gas prices are favoring the climate. At the TTF in Amsterdam, methane is steadily below 100 euros per megawatt hour and the Wall Street indices are recovering. Sharp rise, however, for the price of oil. In Italy the maneuver is being finalized, with the latest changes proposed by the majority and the opposition approved in the Budget Commission, awaiting the final ok immediately after Christmas.
According to Pierre Veyret, technical analyst at ActivTrades, this rebound in European stocks is simply a bullish correction triggered by “hedging operations before the Christmas holidays, when market liquidity tends to decrease”. It would therefore not be a clear reversal of direction. In Milan, the Ftse Mib rose by 1.66% and closed at 24,111.97 points. The spread between the German BTPs and Bunds is down, reaching 212 basis points. The yield on the 10-year bond also fell, which was around 4.4%.
Positive Eni (+3.55%) on the main list of Piazza Affari, announcing a gas discovery offshore Cyprus, through the Zeus-1 well. Preliminary estimates indicate possible volumes of methane between about 56 and 85 billion cubic meters. Saipem (+3.48%), Campari (+2.10%), Banca Generali (+2.34%), Moncler (+2.77%), Tenaris (+2.29%) and Tim ( +2.23%), with the Meloni government committed to resolving the Single Network issue.
With the plus sign, then, Fineco (+1.49%). Wellington Management Group reduced its stake in the bank to 5.193% and is now held through three subsidiaries. In the queue, however, only Iveco, which closes in a tie. (in collaboration with Money.it)