(Il Sole 24 Ore Radiocor Plus) – Le European stock exchanges they are trying to catch up after two consecutive sessions in which the Stoxx600 and Eurostoxx50 indices have lost a total of about 1.5% and in which the continental lists have reached the lows of the year. The purchases are favored by the positive close of Wall Street after the chairman of the Federal Reserve, Jerome Powell, reaffirmed the unconditional commitment against inflation. Support for European markets also comes from Asia where the Chinese stock exchanges have taken advantage of the decision of the Central Bank of Beijing to increase the injection of liquidity into the banking system (almost 9 billion dollars in today’s operation). The FTSE MIB di Piazza Affari thus gains ground in the wake of Prysmian and utilities.
FTSE Mib stock market trend
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As for Prysmian, the stock benefits from the announcement of the approximately 700 million euro contract obtained by the German transmission system operator TenneT TSO. The contract concerns the construction of the second 2 GW system to extend the SuedOstLink interconnection with 546 km of 525 kV high voltage direct current underground cable. Instead, it remains in the crosshairs of sales Saipemwhich in the first two trading sessions since the announcement of the terms of the 2 billion euro increase left 27% of its capitalization on the ground.
Spread slightly up to 207 points, Btp yield at 3.51%
On bonds, a slight increase for the spread BTp-Bund and the yield of the Italian ten-year. On the secondary MTS market for European government bonds, the yield differential between the ten-year benchmark BTP and the same German maturity rises to 207 points from 205 basis points at the closing date on the eve of the day. After yesterday’s decline, the yield of the benchmark ten-year BTp increased to 3.51% from 3.49% of the last reference recorded. The yield of the German bund indicated today at 1.44 per cent was stable.
On the foreign exchange market, the euro changes hands at 1.0532 dollars from 1.0517 yesterday at the close and at 141.80 yen (from 141.55) yen, with the dollar worth 134.58 yen (134.59) . As for oil, the August delivery contract on Brent marks + 0.18% at 110.25 dollars a barrel and the one of the same maturity on the WTI + 0.41% at 104.70 dollars.
Positive closing for Tokyo, Nikkei up + 1.2%
Meanwhile, the Tokyo Stock Exchange closed up in the wake of Wall Street. The Nikkei index gained 1.2% and closed the session at 26,491.97 points. The US market closed yesterday’s bullish trading, traders explain, as investors have now digested the Federal Reserve’s stance, determined to fight inflation, as confirmed during a hearing by Fed chairman Jerome Powell before the Congress.
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