European stock exchanges continue the session with a sharp decline in line with the discontent of Wall Street due to the possible acceleration of the Federal Reserve after the words of Lael Brainard of the Fed’s board of governors last night. services in China and the Shanghai lockdown while watching the meeting of EU ambassadors to discuss the new sanctions against Russia announced yesterday by the Commission. Milan extends its losses mid-session, with the Ftse Mib down by 1.24%, followed by Frankfurt down by 1.31% and Paris by 1.17% while London slipped by 0.52%. Wall Street futures are also in the red by half a percentage point, with the Dow Jones falling by 0.52% and the S&P by 0.58%.
After yesterday’s words from the Fed governor, Lael Brainard, and the president of the San Francisco Fed, Mary Daly, who reiterated the monetary tightening the US Central Bank is ready for, now the focus is on the minutes of the last meeting March which will be published today in the evening (20:00 Italian time). On the currency market, the dollar strengthened further showing a dollar index at a five-year high and an exchange rate with the European currency that after slipping to a one-month low at $ 1.08 and now slightly up to $ 1.09 for one euro. The dollar also strengthened against the Japanese currency, reaching a new 15-year high at 124 yen (+ 0.22%). US government bonds also paid the price for the words of the Fed hawks yesterday. The US 2-year yield has risen to its highest level since 2019 at 2.569%, the 5-year yield is at its highest since December 2018 at 2.767% while the benchmark 10-year yield has risen to 2.6144% , the highest since March 2019. In the domestic bond field, the spread continues to rise to 165 points compared to 162 at yesterday’s close, while the ten-year BTP is now at 2.310%. On the raw materials front, oil continues its run with Brent at 108 dollars a barrel (+ 1.43%), while the WTI reaches 103.53 (+ 1.54%). The data on weekly oil stocks (16:30 Italian time) are now expected. Gas down by 0.17% to 108.57 euros per megawatt hour on the Ttf in Amsterdam. 767% while the reference 10-year yield rose to 2.6144%, the highest since March 2019. In the domestic bond field, the spread continues to rise to 165 points compared to 162 at yesterday’s close, while the ten-year BTP is now at 2.310%. On the raw materials front, oil continues its run with Brent at 108 dollars a barrel (+ 1.43%), while the WTI reaches 103.53 (+ 1.54%). The data on weekly oil stocks (16:30 Italian time) are now expected. Gas down by 0.17% to 108.57 euros per megawatt hour on the Ttf in Amsterdam. 767% while the reference 10-year yield rose to 2.6144%, the highest since March 2019. In the domestic bond field, the spread continues to rise to 165 points compared to 162 at yesterday’s close, while the ten-year BTP is now at 2.310%. On the raw materials front, oil continues its run with Brent at 108 dollars a barrel (+ 1.43%), while the WTI reaches 103.53 (+ 1.54%). The data on weekly oil stocks (16:30 Italian time) are now expected. Gas down by 0.17% to 108.57 euros per megawatt hour on the Ttf in Amsterdam. On the raw materials front, oil continues its run with Brent at 108 dollars a barrel (+ 1.43%), while the WTI reaches 103.53 (+ 1.54%). The data on weekly oil stocks (16:30 Italian time) are now expected. Gas down by 0.17% to 108.57 euros per megawatt hour on the Ttf in Amsterdam. On the raw materials front, oil continues its run with Brent at 108 dollars a barrel (+ 1.43%), while the WTI reaches 103.53 (+ 1.54%). The data on weekly oil stocks (16:30 Italian time) are now expected. Gas down by 0.17% to 108.57 euros per megawatt hour on the Ttf in Amsterdam.
On the macro data front, in February 2022, industrial producer prices increased by 1.1% both in the euro area and in the EU, compared to January 2022. This is estimated by Eurostat, the statistical office of the Union European. In January 2022, prices had increased by 5.1% in the euro area and by 5% in the EU. In February 2022, compared to February 2021, industrial producer prices increased by 31.4% in the euro area and by 31.1% in the EU. Also in February, on an annual basis, producer prices increased by 87.2% in the energy sector, by 20.8% for intermediate goods, by 7.2% for durable consumer goods, by 6.8% % for non-durable consumer goods and 5.9% for capital goods. Prices in total industry excluding energy increased by 12.2%.
On the other hand, Piazza Affari highlighted Snam (+ 1.9%), Italgas (+ 1.91%) and Saipem (+ 20.36%) which has signed new contracts in offshore drilling in the Middle East and Africa for over 400 million total dollars. Among bankers, Unicredit rose by 1.6%. Unipol also rose (+ 0.32%) after announcing that Cimbri is the candidate for the presidency of the holding and UnipolSai. Out of the Ftse Mib stands + 11% of Avio thanks to the maxi contract signed with Amazon by Arianspace, to which the Roman group supplies the engines for the Ariane 6 launcher for the launch of satellites for the broadband of the Kuiper project. The industrialists with Stellantis (4.27%), Prysmian (3.49%), Pirelli (-3.25%), Cnh Industrial (-3.12%) are at the bottom of the list. (All rights reserved)
