After a sparkling start, the Milan Stock Exchange reversed course. On the Stock Exchange, the latest news indicates that at 12 noon the Ftse Mib index was down by just over 0,8%, lagging behind the other markets which are progressing in positive territory. Then, with a leap of faith, Piazza Affari returned above parity. It contributes to the wavy trend pressure on bonds: Eurozone government bond yields continue to rise as investors sell bonds ahead of rising UK debt issuance.
Stock market and markets: bonds under pressure, BTP yields on the rise
The phenomenon affects a bit 'everyone, including the Waist (increased to 2,11%) but assumes particular importance for Italy, grappling with the first test of the new majority: setting up a corrective maneuver, necessary to deal with the energy crisis without scaring the markets.Lo BTP-Bund spread which opened up at 248 from 242 points at Monday's close, widens further to 254 basis points. The ten-year BTP it achieved a yield of 4,65%, 13 basis points higher than on Monday. The start of month-end Treasury auctions also weighs: this morning 3,75 billion in short BTPs were placed, Wednesday 28 September it's the turn of the Boots (5 billion), medium-term securities on Thursday (6,75 billion).
International stock exchanges: Wall Street towards the upside, oil and gas rise
After Monday's losses, US markets are oriented to the upside. NASDAQ and S&P500 futures gain 1,2%. Yesterday the Dow Jones also fell into Bear territory, having lost more than 20% since the highs reached at the beginning of the year. The VIX Volatility Index returned to its June levels.
Prices go up again this morning Petroleum at $86, Monday to a nine-month low. The recovery is linked to the hurricane arriving in the Gulf of Mexico.
The market is also in tension gas +11% after the damage to the North Stream gas pipeline: Russai said she did not rule out the possibility of sabotage. "It is impossible at this moment to estimate the timing for the resumption of recovery operations" of the infrastructure. This is what Nord Stream communicates in a note, according to Bloomberg reports.
Milan stock exchange latest news: the BTP rise hurts utilities
The latest news from the Milan Stock Exchange indicates that the leap forward in yields on BTPs is at the origin of the setback in utilities which in turn put pressure on the general index. Increasingly competitive interests are now competing with the coupons of Terna (-3,8%), Enel (-3,4% ) or Snam (-2.2% to a new low from March 2021 at 4,32 euros). The risk of taxation on extra profits to be fixed at European level also weighs.
It shines on the list Nexi +4%: I new targets illustrated today convince the market. After an initial flare it slows down Unicredit +0,77% supported by the Buy reconfirmed by JP Morgan.
Industrial stocks recover: Ferrari + 2,2% preceded by stm +3,4% recovery after Nasdaq losses.
It also advances stellantis + 1,75% which has offered to pay most of its employees in France aid of up to 1.400 euros in October to support purchasing power, said a spokesman for the automotive group. This exceptional aid includes a purchasing power bonus and the possibility to "monetise" three days of reduced working hours
Benefits taken up Fineco after the extension of the last sessions on the wave of the promotion of Ubs.
