European stock exchanges stuck, inflation fears remain high

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(Il Sole 24 Ore Radiocor) – Le European stock exchanges they choose caution, after the solid session of the eve. The indices, which on the one hand positively evaluate the decrease in infections in China and the positive American data on Tuesday, and on the other hand deal with the aggressive tones used by Jerome Powell, oscillate around parity and seek the opportunity to take a firm hold on positive, as the FTSE MIB of Milan, on CAC 40 of Paris, on DAX 40 in Frankfurt, theIBEX 35 of Madrid, the FT-SE 100 of London andAEX of Amsterdam, weighed down by the collapse of Abn Amro after the quarterly. Wall Street futures are also down.

Concerns about the trend in inflation and, on the geopolitical front, the war in Ukraine remain at the fore. On Tuesday, Fed Chairman Jerome Powell he used particularly “hawkish” tones, noting that the Fed will have to see “clear and compelling” evidence that inflation is falling, otherwise the central bank will have to move “more aggressively.” On the energy front, the EU Commission presents the second part of the plan to strengthen the Union’s energy security and accelerate renewable energy. Signs of weakness also came from the Japanese economy, with GDP falling by 1% in the first quarter, amid rising energy prices and the resumption of the pandemic.

In Milan, eyes on Generali, with Mediobanca in the rear

On the Milanese shares, the data of General which will be announced on Thursday morning, Cattolica Assicurazioni e Trevi Fin. The meeting is also scheduled Pirelli & C. Buy well Prysmianthe best, Iveco Group e Cnh Industrialwhile between the banks they go up Banca Pop Er e bpm bank. At the bottom of the list are the securities of the health sector, such as Amplifier e Diasorine Mediobanca, with press rumors that speak of a stop by the ECB at Delfin from rising over 20%. Shop on Ergwhich touches new historical highs: while interest in renewables remains high, the possible interest of the Australian fund Ifm Investor Pty to take over a minority stake in the company returns to circulate.

Spread slightly moved in the 190 points area

The trend was not very smooth due to the spread between BTp and Bund which remained close to Tuesday’s values ​​with the yield on Italian 10-year yields in fractional decline after the jump that brought the rate back one step away from the 3 per cent threshold. The yield differential between the ten-year benchmark BTp (Isin IT0005436693) and the same German maturity is in fact indicated at 190 basis points, from the 191 points recorded at the previous closing. The yield of the benchmark ten-year BTp decreased slightly to 2.96%, from 2.97% at the end of the day before.