MILANO – 3:35 pm. After the strong rebound of the eve, with European markets regaining over 400 billion in capitalization, trade in the Old Continent is moving down again. Sales strengthen after the ECB, who nevertheless assured them that they were ready to do anything to maintain price and economic stability following the Ukrainian crisis, outlined the way to the end of the extraordinary stimuli: an accelerated path that for the market is a more to hawk than expected. The US inflation data also arrives in the operating rooms, which in February soars to 7.9%: in line with expectations, but still at the highest for forty years due to the surge in energy costs exacerbated by the war in Ukraine.
Milano confirms the “minus” sign in the afternoon and drops by 3.9% with the banks (yesterday protagonists of the rises) which are again the heaviest. Two notable titles – Banca Intesa e Unicredit – ended up in the volatility auction. Same trend for the actions of the Pirelli. As it already happened after the invasion of Ukraine at the hands of Russia, the title of Leonardo – a company also involved in the defense sector – stands out. Today the rise reaches almost 2%.
The meeting in Turkey between Lavrov and Kuleba, ministers of foreign affairs of Russia and Ukraine, also weighs on the European stock exchanges, which has not registered any progress: Paris yields 3%, Frankfurt 3.2% e London 1.4%. Also to Wall Street opening is difficult with the Dow Jones down 1%.
To certify the reading of the ECB announcement as a squeeze on forecasts is the sprint of the spread which had opened the session at 147.2 points, and after the ECB is positioned over 160. The rate of return also leaps: from 1.673% to 1.9%. The rates of the other Eurozone bonds also recorded a surge: the German 5-year Bunds turned positive again, for the first time since last February 28th. Reflections also oneuro which dates back after the ECB announced that it will end the net App purchases program in the third quarter if the inflation trend is confirmed. The single currency, which opened slightly against the dollar and extended losses over the course of the morning, is now worth $ 1.1096 and yen 128.61.
The strong fluctuations of the raw material, with the market wondering if major crude oil producers will increase production to offset the shortage of Russian oil following sanctions imposed on Moscow: currently, Brent futures delivered in May rise 5.2% to $ 116.95 per barrel, while those of the April WTI, which yesterday lost more than 12%, rose 4.45% to 113.54 dollars. On the other hand, the prices of the natural gas (-8,2% a 143 euro al megawattora ad Amsterdam).
Tokyo recovers the rally
Instead, it had moved up sharply this morning Tokyo Stock Exchange which marked the largest daily jump (+ 3.94%) since December 2020, taking its cue from the recovery of the US stock indices. Last night, in fact, Wall Street it closed strong with the Nasdaq gaining 3.59% and the Dow rising 2%.
the Bags Chinese closed the session in positive territory in the wake of the gains of Wall Street and the European lists, and of reasonable oil prices: the Shanghai Composite index gained 1.22%, at 3,296.09 points, while that of Shenzhen an increase of 2.12%, to 2,160.94.
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