The BTP-Bund spread at the highest since summer 2020 colors Piazza Affari in red
Milan is tinged with “red”: the sales on government bonds, which push it spread BTp-Bund at the highest from summer 2020 over 160 points base, put pressure on financial stocks and weigh down the entire Milanese stock market. Halfway through the session the Ftse Eb from Piazza Affari thus it recorded the best performance on a continental level, losing 1.26%. On parity Frankfurt which rises by 0.18 e Paris which loses 0.02%, while London resists up by 0.29% e Amsterdam 0.45%.
Meanwhile, investors continue to monitor conditions in the global economy in the face of the expected tightening of monetary policy. In fact, the market expects more than five 25 basis point rate hikes from the Federal Reserve in the course of 2022, pending the publication of new inflation data on Thursday. While last week the number one of the ECB, Christine Lagardefor the first time did not rule out taking action already this year.
Between main Milanese titles with higher capitalization, in the middle of the session, they lose ground Unicredit which yields 1.44%, Bper 1.18%, Italian post down by 2.9% e General which marks a -1.2%. Bad too It is in the that after downgrade from Fitch. While Saipem it slips again on the stock market, leaving 2.05% on the ground. After the managerial reorganization, the title of the energy giant still remains in the spotlight pending news on capital strengthening. Black shirt also for Diasorin which loses 3.57%. While Iveco in contrast to the trend, it gained 0.8%.
On the foreign exchange market, euro / dollar slightly moved to 1.1447 from 1.1448 on Friday closing. There single European currency is also worth 131.58 yen (131.72 on Friday), while the dollar / yen ratio is equal to 114.95 (from 115.22). The oil price after seven consecutive weeks of rises: the March futures on Wti drops 0.88% to 91.50 dollars a barrel, while the contracts on Brent with April delivery mark -0.36% to 92.93 dollars.
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