US prices penalize stock exchanges, banks support Piazza Affari

In the first of the two days of Federal Reserve meetings, the indications coming from producer prices could represent further confirmation of the need to speed up the process of reducing monetary stimuli. In November, US producer prices posted an annual increase of 9.6%, the largest ever recorded.

Also taking into account inflation at its highest for four decades, operators who bet on a doubling of tapering (currently at 15 billion dollars), the progressive reduction of shopping, are starting to be many. For now, the update relating to producer prices has had the effect of pushing down financial markets on both sides of the Atlantic with the sole exception of Milan, where the Ftse Mib (+ 0.02% to 26,556.67 points) the banking sector took care of it.

Driven by the expectations of extraordinary transactions, the shares in this sector all closed positively: UniCredit posted a + 4.58%, BPER Banca a + 1.54%, Intesa Sanpaolo a + 0.88% and Banco BPM gained 1.42%.

Regarding a possible interest in Banca Monte dei Paschi di Siena (+ 0.33%), the CEO of Banco BPM, Giuseppe Castagna, replied with a “never say never” remarking that the bank has always been interested in operations capable of creating a third banking group in Italy. A decidedly positive day also for Carige (+ 8.15%), driven by rumors about an interest from BPER and the French Credit Agricole.

In today’s BTP auction, the Treasury placed 3.5 billion euros of the new 3-year bond. The BTP registered a negative yield of 0.1%, compared to -0.16% in the previous auction. The coverage ratio stood at 1.21. The BTP-Bund spread remained stable at 130 basis points. (in collaboration with