Stock Exchanges in Europe slow down and widen the declines. Milan -1,17% is the worst together with Frankfurt (-1%). But things are not much better in Paris -0,9% where the collapse of Casino -8% is broadcast, the colossus of commerce that is unable to sell the subsidiary that deals with renewable energies. Madrid (-0,12%) and London hold on to parity.
To spread pessimism is the fear of inflation.
Pessimistic Istat, Ftse Mib down
To weigh on the Italian price list are the indications arriving fromIstat which cut the growth forecast of GDP for 2022, to +2,8% from the +4,7% estimated last December. For 2023 he estimates growth of +1,9%. The Institute warns that “the prospects for the coming months are characterized by high downside risks, such as further increases in the price system, a decline in international trade and an increase in interest rates”. In Germany, on the other hand, the disappointing data on industrial orders weighs heavily.
US stocks are expected to open lower. Nasdaq futures are down 0,7% ahead of the April trade balance release. Bonds are still under pressure, two days before the awaited ECB meeting.
The ten-year BTP trades at a yield of 3,33% (from 3.40%) in anticipation of the ECB summit on Thursday. In the USA, the 3,01-year Treasury Note trades at 2,79%. Expectations on inflation rose, reaching 25% over a ten-year horizon, the highest since the beginning of May. Real rates are little moved, around XNUMX basis points.
Il Brent oil and WTI it is little moved. To report the decline in natural gas European – 3% below 80 euros per megawatt hour for the first time in four months. Eastward gas flows via the Yamal-Europe pipeline from Germany to Poland halted today, according to data provided by pipeline operator Gascade. In May, Poland terminated an agreement with Russia to receive Russian gas via the Yamal pipeline after Warsaw refused a request to pay in rubles.
Piazza Affari: the best and the worst
To shine in Piazza Affari is in practice Leonardo only +1,5%. Akros analysts write that an industry site speaks of an imminent agreement with Egypt for the purchase of fighter jets after three years of negotiations.
Atlantia and Unipol stable, all the other blue chips in red. The worst is Tim -2,2% The oil sector is in negative territory, in the wake of the drop in crude oil prices: Saipem loses 2%. Iveco does worse -2,2%.
Weak sector of banks -1,6%. The big names are under fire: Intesa -1,84% and Unicredit -1,3%. Banca Generali, Bper and Bpm are also under fire.
After a 4,1% drop, MediaforEurope's B shares recovered part of the declines and lost around 2%. On Monday, the group increased the cash consideration of its offer for its Spanish subsidiary Mediaset Espana by 16,1%.
Snam -0,2% waiting forIPO of Industrie De Nora which points to a valuation of over 4,5 billion euros, including debt, in the IPO scheduled on the Milan stock exchange by the end of this month, according to two sources familiar with the situation. In addition to a capital increase, the IPO also provides for the sale of shares by the De Nora family and Snam.
