European price lists are increasingly closely linked to the trend in energy prices. In view of the EU meeting on 9 September to develop a common strategy natural gas prices they fall back on the Amsterdam market at 255 euros per megawatt, with immediate benefits for the stock exchanges: in Germany, on the fourth day of declines, the one-year futures contract falls by 22% to 590 euros MWh. Berlin to has opened to the hypothesis of a ceiling on the price of gas.
Piazza Affari returns above 22 thousand points
Business Square recovers 1,6% going back over 22 thousand despite the setback in June for the industry turnover, which marks the first cyclical decline after five months of uninterrupted growth. According to today's Istat data, net of seasonal factors, the index drops by 0,2% on the month after the +1,2% (revised) in May.
THEEuroStoxx 50 index rises by 1,3%, the Dax of Frankfurt marks +1,4%. Preliminary data on theinflation in Germany. In the important North Rhine-Wesphalia region, consumer prices rose by 0,3% month on month, down from +1,1% in July. But other negative signals are coming from Moscow: Gazprom, waiting to turn off the taps to Germany for three days from tomorrow, has announced the cut in supplies to the French Engie.
Btp: yields at the highest since 2013
There was a lot of waiting for the Treasury auction on medium and long-term securities. Italy has placed all the 8 billion offered but with yields at the highest levels in recent years. The fifth tranche of the December 2027 BTP, coupon 2,65%, offered for 2,75-3,25 billion, was assigned for the entire amount at a rate of 3,09%, the highest since September 2013, compared to 2,82 % of placement at the end of July. Allocated 2,25 billion – also in this case the maximum amount of the ninth reopening of the ten-year December 2032 at a yield of 3,76%, a record since January 2014 (3,46% the previous auction). Placed for €1,25 billion on 15 March 2030, with a residual term of 8 years, at a rate of 3,30%. Finally assigned 1,25 billion of the CCTEU October 2030 at a yield of 1,04%.
Recover the bond market. The Ten-Year Treasury Notes trades at 3,06%. Waist at 1,46%. BTP 3,76%.
Cross Euro Dollar just above parity. In the last seven sessions it has closed the session below the one mark.
The best and the worst in Piazza Affari
In Piazza Affari the rush of Bpm bank +3,7%. The stock has substantially broken even since the beginning of 2022 against -25% of the Italian banking sector and -20% of the European one, after ending 2021 with a 46% increase, outperforming the Italian banking sector (+33%) and European (+36%). The rest of the sector is also in great evidence today, recovering after the sharp declines: Mediobanca +3,1% leads the race. Above 3% too Intesa Sanpaolo and Bper, Fineco is also effervescent.
Oils retrace: Tenaris -1,5% Saipem -0,7%. The Petroleum accelerates down 2%, after yesterday's 4% jump. Meanwhile, the OPEC + meeting on 5 September is approaching: last week Saudi Arabia warned of the possibility of a reduction in production.
Today I am only four blue chips down on 40 members of the FTSEMIb. Down Leonardo -0.3% and Inwit -0,1%.
Also noteworthy is the redemption of Moncler +3,27% after the latest reductions. Campari +2,4%.
