There is no respite for the financial markets, dominated by the stern warnings of the central banks. After landslide on Friday afternoon, in the wake of Fed Chairman Jerome Powell's words, selling continues on the wake of statements from ECB members. Waiting for the "dove" to speak at 15 pm Philip Lane, the chief economist very close to the president Christine Lagarde. In the meantime, however, the turnaround in the price of gas will reduce the grip of the Bear while awaiting countermeasures from Brussels.
The Bear's paw crushes the Bags but braking the gas avoids the worst
Square Business he leaves one percentage point on the ground, slipping well below 22 points. The loss since the beginning of the year has once again exceeded 20%. Heavier losses of the index Frankfurt -1,4% and by Paris. London it is closed for the Bank Holiday.
Futures on the opening of the US Stock Exchanges are also in the red.
The forecast of an imminent increase in prices weighs on the markets European rates by three quarters of a point, justified by the statements of the members of the European Central Bank in Jackson Hole. As a consequence, pending next Wednesday's EU inflation data, the rate of the Italian 10-year BTP, which jumped in the very first trades to 3,87%, maximum since 16 June, has risen to around 3,84% since 3,68, XNUMX% of Friday's finale.
The yield on the two-year German Bund, particularly sensitive to interest rate expectations, rose by 16 basis points to 1,135%, its highest since 22 June.
At 13 it spread it stands at 230 points, after having touched 235. Tomorrow a total of up to 8 billion euros of three BTPs at 5, 10 and 15 years and a CCTEU will be placed.
Euro dollar at 0,995, down 0,2%, just a breath away from the XNUMX-year lows.
Reverse the gas price (-12,73% to 296 euros per megawatt hour) after hitting a new record last week at 331 euros (348 the contract for delivery in November), which certainly does not bode well for a drop in inflation. There is anticipation for the extraordinary meeting in early September of the European energy ministers to combat the increase in energy prices.
Utility targeted by bears in Piazza Affari
The cost of energy remains at the center of the news on Piazza Affari. On the utility front, the letter falls particularly on A2A -3% Iren -3,3% and Ascopiave -2,6%, all three on multi-year lows. Also Enel -2% is penalized by the increase in rates and by the prospect of tax measures on extra profits.
Salt instead Tenaris + 1,7%.
Weak also automotive, in view of the green light of the board of Volkswagen to the listing of Porsche. Ferrari loses 1,1%. Gù also the luxury: Moncler -1,1% Ferragamo -2,4%. Consob has suspended the preliminary terms of the takeover bid promoted by DeVa Finance of the Della Valle family for a period, in any case, not exceeding 15 days in order to acquire some additional information.
Among the banks shines Bpm bank, best stock of the FTSE Mib with an increase of 2,4%. At the opposite Monte paschi it dropped 3,7% on a stock exchange that looks to the next hyper-dilutive capital increase of 2,5 billion euros that the Sienese bank will have to face in the coming months.
Sale Tim +0,9%, misses Leonardo -3%. On 24 August, the project company owned by Tim, Leonardo, Cdp and Sogei signed the agreement for the concession of the design, construction and management of the National Strategic Pole infrastructure for the supply of cloud services for public administration. Emanuele Iannetti is the CEO.
In the rest of the list, Civitanavi Systems announces that it has signed a commercial agreement with an English company active in the surveillance of urban air traffic. Consob has restarted the preliminary terms for the approval of the prospectus of the voluntary takeover bid by Esprinet on the entire ordinary share capital of Cellularline. The terms will expire on 7 September.
