Gas (+33%, close to the all-time record) and oil ($110) rose, along with other raw materials (the Bloomberg index has been at the top since 2014). The Moscow Stock Exchange remains closed, the central bank of Moscow suspends the payment of coupons on bonds held by foreigners, a step that brings the system closer to financial default. Confirmed the stop to the use of the Swift payment system for seven Russian banks but not for Sberbank and Gazprombank, which is needed to pay for gas.
Western stock exchanges, including Piazza Affari, thus descend into the trenches while new heartfelt SOSs arrive from Kiev. But in the last stages the lists have taken the path of the rise.
European stocks seeking recovery as tension mounts
Milano, after the sharp declines of the past few days, it gains around 0,4%. Even better the Euro Stoxx 50 index and Frankfurt. Also Nasdaq futures, from where the movement started, veer towards the upside. But, judging by the initial comments, this does not indicate an improvement in the political climate. Indeed, it is the sign of the West's willingness to raise the level of confrontation in order to arrive at a solution. It is no coincidence that the best US indices concern defense titles.
Attention remains high on the bond markets, while inflation rises in the 19 countries of the euro area to 5,8% from 5,1% in January, above expectations at 5,4% and above ECB projections - Run the Bund to -0,06%. Yesterday, the German 2-year futures gained almost 156%, the largest change in the last eleven years. The spread widens to XNUMX points despite the purchases on BTP (yield 1,48%) which posted their best session since March 2020 on Tuesday.gold, the most classic of safe-haven assets, it brought its quotation to the highest since June for a gain of +6%.
Prysmian's big coup: new maxi-order
In the Italian price list it shines Prismian +4,2% which announced this morning that it had been awarded a 1,2 billion euro contract for the "turnkey" construction of a 725-kilometre submarine interconnection which will connect the German and British electricity grids for the first time. Instead, he misses out Stm -1,75%: Apple, its main customer, stopped sales in Russia.
European stock exchanges, gas and oil are running. Opec+ raises production
Oil prices are running on the wave of rising prices. Tenaris +3,8%. Saipem +2%. Eni +1,61%.
OPEC+ has decided the increase in production by 400.000 barrels/day in April, anticipates the Wall Street Journal. OPEC+'s decision comes a day after the US and other major oil-consuming nations announced plans to release 60 million barrels of oil from their emergency stockpiles
Raise the rest Stellantis +1,50% after the sales that accompanied the presentation of the Strategic Plan on Tuesday, March 1: The company aims to double annual revenues to 300 billion euros by 2030 and keep profit margins high as it ramps up efforts to roll out electric versions of cars, SUVs and pick-ups.
In Milan Tim and banks slow down the descent
Retrieve locations too Tim -0,5% from -4% starting point. La Repubblica writes that it will cut the dividend. The Board of Directors is preparing to discuss the new industrial plan, focused on a strategy that aims to unbundle the network assets and create the conditions for their integration with Open Fiber, while the non-binding offer from Kkr appears increasingly in the balance.
Slow down the rain of sales on banking sector. In just over three weeks it has burned about 20% of the value, bringing the performance since the beginning of the year into the red by -10%, a performance in line with that of the Stoxx Global index.
Unicredit +1,96% takes a breath of fresh air after the downpours of the last few days.
Understanding -0,05%. The Russian invasion of Ukraine prompted Italy to freeze its stake in the financing of Novatek's Arctic Lng 2 project. At the end of 2021, CDP and Intesa joined the pool of lenders with a dowry that sources had quantified at around 500 million euros.
It should be noted that Banco BPM -0,5% and Banca Popolare di Sondrio [BPSI.MI], reached a transfer agreement of 39,5% held by Banco BPM in Factorit at a price of 75 million euro.
