Positive day for the European Stock Exchanges. While awaiting the evening meeting of the Fed and tomorrow’s meeting of the ECB, with further increases in interest rates expected, important macroeconomic data is arriving. The manufacturing PMIs of Italy, Germany and the Eurozone showed improvements, while inflation fell throughout the Eurozone. In our country, in particular, according to a preliminary estimate for January, the consumer price index is now up by 10.1% on an annual basis.
At the TTF in Amsterdam the price of gas is rising, which is now around 60 euros per megawatt hour. On the other hand, the value of oil decreases. Brent and Wti in fact mark a decrease of around 1%. In Milan, the Ftse Mib rose by 0.39% and closed at 26,703.87. The spread between the Btp and the German Bund is up, around 192 basis points. The yield on ten-year bonds also rose slightly, to around 4.15%.
Bankers are doing well on the main list of Piazza Affari, continuing to gain from forecasts on aggressive monetary policies by the ECB and the Fed. Intesa Sanpaolo gains 1.78%, Unicredit 1.10%, Bper 3.30 % and Banca Mediolanum 1.03%. In particular, as far as Unicredit is concerned, after the release of the financial results for the 2022 financial year and the forecasts for next year, some investment banks have improved the target price on the institution.
In the queue, however, Enel (-2.19%). Consob communications let it be known that since the end of January BlackRock has been credited with 5.022% of the company’s capital. Eni (-2.05%), Tenaris (-2.15%) and Saipem (-1.14%) are also bad due to the declines in oil prices. (in collaboration with Money.it)