The European markets are slowing down in anticipation of the American opening. Before Wall Street in fact, now the most awaited statistic of the week will come out: the data on the Pce (Producer Consumer Expenditure) or the most reliable data on the trend of theinflation for American households. Also US futures they are in red.
Milan Stock Exchange in reverse but Wall Street futures are also in red
In the meantime, Milan reverses (-0,3%) at around 27.200. A negative signal comes from the Frankfurt Stock Exchange: the chemical giant Basf falls by 6% after reporting a drop in annual profits and saying it wants to cut 2.600 jobs and stop buybacks.
I BTP are heading to close the third week in a row with interest rates on the whole curve, in line with what is happening in a large part of the European sector, but the spread does not go up on the Bund, which gravitates around 185 basis points.
in the morning theTreasury auction has assigned all 9,5 billion euros in the 5 and 10-year BTPs and in the new CctEu October 2028 with the yields of the first two bonds rising to the highest levels in five months.
The final reading for the fourth quarter of German GDP revised downwards to -0,4%: il risk of recession remains alive even if German consumer confidence should continue its improvement trend in March thanks to falling energy prices. This is estimated by the Istituto Gfk which forecasts an index of -30,5 points.
Who gets on and who gets off at Piazza Affari
He runs in Piazza Affari Saipem +2,5% under the impetus of the rise in crude oil and the agreements with some Egyptian companies and in wind power with Seaway 7.
Also good Erg +2,5% while sales continue on Eni -0,4%. Analysts cite the EBIT target for 2023, lower than consensus, and the increase in investments (capex) among the reasons for disappointment, but underline the positive indications on cash generation and shareholder remuneration.
In the spotlight Telecom Italy awaiting the board of directors who will today examine the non-binding offer to purchase the network presented by KKT.
brake theautomotive; weak both Stellantis and Pirelli -1% after the rally on the eve. Only Brembo +1,5% was positive.
Weak too banks starting from Bper, heavy Dovalue -5% after results below expectations,
The utilities, starting with Enel, are positive: the group is involved in a negotiation with the Chinese for the sale of the stakes in Peru.
In the rest of the price list, the leap of Southern Highways +12% after the bills.
