Stock market down after the Fed’s decision

Negative day for European stock exchanges and for Piazza Affari, following the Fed’s decision to raise interest rates by 75 basis points and to continue with new increases in the coming months. The American Central Bank therefore frightens investors, who fear recessionary effects in the Old Continent, especially if the ECB also follows this path.



The euro is still weak against the dollar and the price of oil falls, while that of natural gas rises. Piazza Affari closed with a loss of 0.42%, at 22,706.02 points. On the other hand, the spread between BTPs and German Bunds remained stable, remaining around 215 basis points.

Tim stands out on the main list in Milan (+ 3.22%), consolidating the positive results achieved in previous sessions. There are two possibilities for the company: the sale of a stake in the EnterpriseCo division or a takeover bid by Cassa Depositi e Prestiti, Vivendi, Kkr and Macquarie, to later separate the commercial activities from the management of the network. Both options lead to the single network. Saipem (+ 1.28%), Buzzi (+ 1.02%), Tenaris (+ 1.41%) and Inwit (+ 0.81%) also rose.

At the bottom of the list, however, Stellantis (-3.26%) and Pirelli (-2.77%), given the still insufficient data on car sales in Italy and Europe. According to the transport ministry, almost 116,000 cars were registered in Italy in October, up by 14.6% compared to the same period last year. Stellantis’ sales are also up, but its accounts in the last quarter are not considered positive. Also negative were Italgas (-2.46%), Moncler (-2.78%) and Iveco (-1.34%). (in collaboration with Money.it)



Source-www.adnkronos.com