(Il Sole 24 Ore Radiocor) – The race ofinflation returns to suggest prudence to investors, who in the session of May 31 lighten the positions on theEuropean equity after the rises of the last week. Filed the record of German consumer prices in May, the agreement between the European leaders for the partial stop to imports of Russian oil it is thus giving a new boost to expensive energy, launching crude oil towards the sixth consecutive monthly rise. The index is weak in Piazza Affari FTSE MIB while in the rest of the Old Continent also Frankfurt brakes (DAX 30), Paris (CAC 40) and Madrid (IBEX 35). On the other hand, commodity stocks support London (FT-SE 100) and Amsterdam (AEX).
On the macro front, in the meantime, inflation has started to accelerate again also in France in May, with a price increase of 0.6% monthly and 5.2% on the year. The 5% inflation threshold, exceeded in particular due to rising energy prices, had not been exceeded since September 1985.
In Milan Eni and Bper shine, Ferrari down
Among the Milanese stocks with the highest capitalization, in the first part of the session, purchases reward the oil sector with Saipem ed Eni in the wake of the rises in crude oil after the agreement between European leaders for the (partial) stop to imports of Russian oil. Also on the rise Leonardo – Finmeccanica, Banca Pop Er which now sees integration with Bca Carige and luxury with Moncler. On the other hand, weak instead Hera, Nexi e Ferrari.
FTSE Mib stock market trend
Loading…
–
Weak euro against the dollar
On foreign exchange market, the euro retraces to $ 1.0747 from $ 1.0785. The single European currency is also worth 137.49 yen (from 137.46), while the dollar / yen ratio is at 127.94 (127.48). The Petroleum WTI for July rose by 1.95% to 119.14 dollars a barrel, while the similar contract on Brent marks + 1.78% at 123.83 dollars. The price of natural gas on the Dutch Ttf platform rises by 0.8% to 92 euros per megawatt hour.
Spread slightly moved at 195 points, yield above 3%
Sitting in fractional rise for the spread between BTp and Bund on the secondary market MTS of European government bonds, in the aftermath of a day of strong sales on bonds. The yield differential between the ten-year benchmark BTp and the same German maturity, in fact, is indicated at 195 basis points, little changed from the 194 basis points of the final on May 30th. The yield of the ten-year BTp still remains above 3%, at 3.01%, after having registered a last position at 3% on the eve (from 2.91% of the reference on Friday 27 May).
–
:strip_icc():format(jpeg)/kly-media-production/medias/2806443/original/029357300_1557919350-20190515-Cacar-Monyet-7.jpg "Health Expert at WHO: Monkeypox Monkeypox Won’t Become a Pandemic")