Gazprom communicated to Eni -1,12% which today will supply volumes of gas equal to approximately 21 million cubic meters per day, compared to an average of 32 million cubic meters in the last few days, i.e. an abundant 30% less. Through the Gme platform, the energy group also said that the only partial supply from Russia should continue until July 16 and that any updates will follow. Gazprom also said its gas supply to Europe via Ukraine via its Sudzha entry point fell to 39,4 million cubic meters (m41,9), from XNUMX mXNUMX on Sunday.
Gas emergency from Germany to Italy: total blockade feared, stock markets down
Thus takes consistency risk of declining gas supplies to the Old Continent: this morning the scheduled stop (for ten days) of the flow of gas through Nord Stream 1, the first gas pipeline supplying central Europe, was triggered. The gas price it drops to 155 dollars per megawatt hour, against 175, in the wake of the possible delivery of a Siemens turbine to Gazprom, in violation of the embargo. But the emergency remains: Europe, warns the French Minister of the Economy Bruno Le Maire, must prepare for the total blockade of Russian gas.
In this context, the European Stock Exchanges, starting from Frankfurt -1,8%, initially took the downward path. Uniper, among the first victims of the decline in Russian supplies, it lost 7,88% in the wake of a dispute between Germany and Finland over who will have to bear the costs of bailing out the gas importer.
During the morning the trend moderated: Frankfurt – -0,7%, Eurostoxx -0,5%. Also business square, after three days of gains, it is down, but the decline narrowed to 0,3% at 12 from the initial 1,4%.
Il Nasdaq futures is down 0,7%
Bond market recovering slightly. Investors are also looking at startups mid-month auctions, tomorrow, when the Treasury will propose 7 billion annual Bots. The next day, in the medium/long-term placement, there will be up to 7 billion BTPs on the table at 3, 7 and 15 years.
In this context, at 11, the yield of the BTP trading at 3,32%, after falling to 3,30% in early trading, the spread with Germany stopped at 202 basis points. According to analysts, the yield differential with the Bund will remain around the threshold of 200 cents before the announcement of the ECB's anti-fragmentation tool.
Saipem closes the increase, Tim flies on the Jumbo dividend hypothesis
Today is the last day available to subscribe to Saipem's 2 billion euro capital increase +3,3%. Meanwhile, the group announced the signing of a memorandum of understanding with the Chinese group Cimc Raffles in order to explore new collaborations in the Off-shore drilling, Off-shore construction and New Energies sectors.
The most brilliant title of the list is Telecom Italia +4%: the hypothesis of a jumbo dividend is making headway.
Positive too Leonardo +0,5% which launched a commercial paper program which envisages issues for a maximum amount of 1 billion euro to have an additional short-term funding tool.
Under fire the banks after the review of the opinions of the KBW broker, Bper leaves the ground 2,4% ahead of Bpm -1,5%. The broker reduced the target prices of Unicredit -1%, Intesa Sanpaolo -0,2%, Mediobanca.
Down too Prysmian -1,6%: Citi cuts its target price to 31 euros.
Autogrill 8%, he announced the merger into Dufry. Upon completion of the operation, through the merger of two of the main operators in their respective sectors, a global player will be created with over 12 billion in revenues and an EBITDA of approximately 1,3 billion. Edizione Holding, with a stake between 20 and 25%, will be the reference shareholder. Autogrill minority shareholders can choose to deliver their shares in exchange for Dufry paper, at a ratio of 0,158, or cash, at 6,33 euros, around half a euro less than Friday's closing price.
Stm +0,70% and GlobalFoundries announced today that they have signed a memorandum of understanding to establish a new jointly operated 300mm silicon wafer semiconductor manufacturing facility adjacent to ST's existing 300mm facility in Crolles, France. This plant, investment value € 4 billion, it is expected to be fully operational by 2026, with the equivalent production of up to 620.000 300 mm wafers per year. For the new plant, ST and GF will receive significant financial support from the French state.
Cross Euro Dollar down 0,6% to 1,0111.
Oil Brent and WTI is down 2%, on fears of a slowdown in demand from China.
