Piazza Affari still loses ground, the spread rises

Closing of the week still with a loss and under 21 thousand points for Piazza Affari, in the wake of the negative results of the other European Squares and Wall Street. In September, non-agricultural jobs increased by 263,000 in the US. According to Filippo Diodovich, senior market strategist of IG Italia, this data confirms what the hawks within the board of the Fed had anticipated, namely that the US economy would be able to withstand further interest rate hikes by the central bank . At the next Fed meeting in early November, therefore, there could be a new hike of 75 basis points in the cost of money.

The Ftse Mib closed losing 1.13%, at 20,901.56 points. The spread between German BTPs and Bunds rose, around 250 basis points, with the yield on the ten-year bond reaching 4.7%. On the main list of Piazza Affari, most of the banks are slightly up. Unicredit earns 0.39%, Banco Bpm 0.57%, B for 0.66%. Well then, Leonardo (+ 3.11%), Campari (+ 1.16%) and Tenaris (+ 1.32%).

On the other hand, Nexi (-2.52%), Moncler (-2.50%), Saipem (-0.84%) and Ferrari (-2.44%) were down. Stm was definitely bad (-5.26%), in line with the trend in stocks related to semiconductors. The companies in this sector are affected by the financial indications released by Samsung and AMD, which disappoint analysts’ expectations. In particular, the American giant ended the third quarter of 2022 with revenues lower than the second quarter of the year. Stellantis also lost ground (-1.87%), despite the increase in car sales in Italy and around the world in September. Registrations exceeded 35 units, up by 6.5% compared to September 2021. (in collaboration with Money.it)