Bags split between the desire to invest and the fears of recession, while gas prices skyrocket to record levels and cast a shadow over the future: the closing is little moved for all European lists which, in a session with a still summer flavor, focused above all on defensive stocks and slowed down the pace with the 'uncertain start of Wall Street, where the technological ones are in slight decline. for some it is in any case the fifth consecutive session in progress.
Business Square he tried in vain to consolidate the 23 thousand points, conquered on several occasions during the session, to then close a whisker from that goal: +0,12%, 22.997 basis points.
It does better Frankfurt +0,68%, although German economic confidence is rather down, as shown by a lower than expected Zew index due to fears related to the potential impact of the increase in the cost of living on consumption.
In the rest of Europe it stands out Madrid +1,03%, followed by London +0,43% and Paris +0,39%; they are negative Amsterdam -0,11% and Zurich -0,42%.
In New York he runs Walmart +5,8%, best title of Dow Jones (+0,6%) after a better-than-expected quarterly. The retail giant celebrates the increase in prices and the desire of consumers to go back to spending in stores, demonstrating that inflation in the US is not only bad, while the minutes of the last Fed meeting are awaited this week.
Skyrocketing gas
What worries Europe, however, are the skyrocketing gas values, fueled by spot prices in Asia, the closure of gas production and transportation plants in Norway for maintenance, rising temperatures, a decline in wind, hydroelectric and nuclear power in several European countries. Gazprom then proceeded to further charge the fuse, according to which European gas prices could still go up by 60% at over $XNUMX per thousand cubic feet this winter.
During the day there was a rise of 7,7% to 237 euros per megawatt hour price of natural gas on the TTF platform in Amsterdam: the closing historic high is 227 euros reached last March, when the price had soared to 300 euros in intraday trading.
On the other hand, oil futures fell, depressed by fears about global demand (above all due to the Chinese economic slowdown) and by the possibility of a nuclear deal with Iran. Yesterday, the Chinese central bank cut lending rates to try to revive demand, precisely as the national economy suffered an unexpected slowdown in July, with manufacturing and retail activity penalized by Beijing's policy against Covid-19 and the real estate crisis.
Il Brent it is currently trading in fractional decline around 94,7 dollars a barrel.
Barclays has already moved to cut its average Brent price forecast for this year and next.
On the currency market theeuro-dollar it is little moved, around 1,017.
Piazza Affari saves itself with utilities
In the first session of the week, after the August XNUMX holiday, Piazza Affari saves itself with purchases on utilities: A2a + 2,46% Italgas + 2,37% Snam + 2,15% Terna + 2,07% Enel + 1,33%.
Also among the cash securities Inwit + 1,8% Leonardo + 1,84% stm +1,13%. As for the chip group, Banca Akros reports "slightly positive" implications from Bloomberg's rumors that Apple would have asked its assemblers to produce 90 million units of the new iPhone 14 which will be launched on the market in September.
The price list is held back by sales on Amplifon, -5,27%, alarmed by collapse of rival Sonova (-15,89% in Zurich) which revised downwards its earnings forecast for the current year, citing slower-than-expected growth in some important markets and higher component and transport costs.
Back off Telecom -3,62%, after last Friday's gains following delisting hypotheses in case of victory of the centre-right in the next political elections.
The benefits also ballast nexi -1,42%.
Bad oil stocks starting from Saipem, -2,63% and with the exception of Saras + 5,32%.
financial weakness, Finecobank -1,93% Unicredit -1,4%.
Stay afloat Bper +0,12%. The bank has announced that Carige's new board of directors is back in operation after the Court of Genoa lifted the stop to the resolutions of the June assembly on the new board and on the liability action against the former top management.
Lo spread it is stable, 217 basis points, but the rates bite: the 3,14-year BTP is +0,97%, that of the Bund with the same duration is +XNUMX%.
