ECB effect on European stock exchanges: Milan loses more than 2%. Banks ko
Record ofAmerican inflationthe hawkish words from the president of the European Central Bank Lagarde and fear there Fed can speed up the hold of monetary policy the European price lists are knocked out. After Black Friday, which ended the worst week since October 2020, i European price lists continue to be affected by sales awaiting the appointment, Wednesday, with the top of the American central bank, which is expected to raise interest rates by 50 basis points.
Halfway through the session a Piazza Affari the Ftse Mib loses 2.21%, while in the rest of Europe Frankfurt drops 1.82%, Paris 2.06%, London 1.76% e Amsterdam 2.62%. The futures of Wall Street.
Among the Milanese stocks with greater capitalization, they are gaining ground against the trend Recordati (+ 1.51%), Diasorin (+ 1.08%) e Campari (+ 0.82%). Atlantia limits the damage to -0.18% thanks to the improvement in traffic in May. At peak Saipem (-10.44%) after the reverse split of the shares in a ratio of 1 to 10 in view of the capital increase. Bad all the financial sector with Nexi at -6.4% and tech stocks (-4.26% for StMicroelectronics).
Stock Exchange, the spread race continues: the BTP-Bund differential flies
Sales also onbond resulting in a surge in yields: the BTp-Bund spread widened beyond i 240 points base. On the foreign exchange market, the euro slipped below $ 1.05, to 1.0462 from 1.0518 on Friday at the end.
It continues to lose altitude yenwhile the Japanese central bank remains the only bastion of ultra-accommodative monetary policy now behind it in all other developed economies: the Japanese uniform it fell to a new low since 1998 against the dollar at 135.20, before recovering some ground.
A EUR is now worth 140.77 yen (from 141.09), while the dollar is at 134.55 (from 134.15). Oil fell sharply, with the August Brent futures down 1.31% at 120.40 dollars a barrel and the July WTI contract at -1.36% at 119.03 dollars. Up by 1.5% to 83.7 euros per megawatt hour on natural gas in Europe.
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