The day after the Federal Reserve, and on the big day of the European Central Bank, Piazza Affari closed the session with a plus sign. Yesterday the institute led by Jerome Powell has intensified, as expected, the process of reducing stimuli, bringing the “tapering” from 15 to 30 billion monthly. In 2022, it emerged from the dot plots, we should see three rate hikes.
Even from the meeting of the Governing Council of the ECB no major surprises emerged: the cost of money was not touched and confirmation was received that on March 31st the Pepp emergency program (the plan specifically launched to combat the crisis caused by the pandemic) will end .
As regards the economic trend, a new acceleration is expected in 2022 while inflation will remain high on the price front, driven by the strength of demand and the prices of energy products.
The Bank of England also met today and raised the cost of borrowing from 0.1 to 0.25%.
In this context, our Ftse Mib closed trading at 26,782.44 points, + 0.44% compared to the previous figure, while the BTP-Bund spread increased by almost 3% to 132 basis points. On the Ftse Mib, the best performances were recorded by two big names in the industrial sector such as CNH Industrial and Stellantis, up respectively by 4.38 and 3.3 per cent.
The return of purchases on Brent, the future rises by 1.7% to $ 75.1, has allowed Tenaris, Eni and Saipem to rise by 2.87, 1.65 and 0.83 per cent respectively . Mixed banks: on the one hand we find Intesa Sanpaolo (+ 1.86%) and Mediobanca (+ 1.12%), on the other UniCredit (-0.53%) and Bper Banca (-4.25%).
Due to the third profit warning of the year, Telecom Italia shares closed with a -0.93%. (in collaboration with money.it).