Price cap agreement, Piazza Affari does not recover

A day without jolts in Piazza Affari, with the other European stock exchanges instead recording more significant increases. The squares of the Old Continent are therefore starting to recover ground compared to last week’s slides, due to the tough attitude of the European Central Bank, which follows a non-shattering softening of monetary policies by the Fed.

An agreement on the European gas price ceiling was reached today at the European Energy Council. The price cap is set at 180 euros per megawatt hour: it can also be activated by the EU Commission on secondary markets if the differential with the LNG reference index is 35 euros per megawatt hour. As a result, the price of gas on the Amsterdam TTF falls. According to Pierre Veyret, technical analyst at ActivTrades, “Investors are optimistic about further gains, boosted by expectations of a holiday rally, but global sentiment towards riskier assets remains fragile”.

In Milan, the Ftse Mib dropped just 0.02% and closed at 23,683.54 points. The spread between the Btp and the German Bund rises again, traveling on 217 basis points. The yield on the 10-year bond is also growing, which is around 4.3%.

On the main stock exchange of Piazza Affari, excellent performance by Tim (+4.28%), while news from the government and shareholders is expected on the single network. The results of Nexi (+2.31%) and the oil companies were also good, with Eni gaining 0.70% and Tenaris 2.21%. On the other hand, Diasorin (-1.04%), Fineco (-1.62%), Intesa Sanpaolo (-1.14%), Banca Generali (-1.41%), Leonardo (-1.47% ) and Moncler (-1.34%). (in collaboration with Money.it)



Source-www.adnkronos.com