European stock exchanges weak with US prices contrasted in the first day of meetings of the International Monetary Fund. Milan leaves 0.32% on the field, Frankfurt gains 0.4%, London drops 0.09%, Paris 0.11% and Madrid 0.3%. The differential between German BTPs and ten-year Bunds rose to 254.5 points, with the Italian annual yield reaching new highs of 4.76% (+7.3 points). Speeches by ECB chief economist Philip Lane and Fed vice president Lael Brainard are expected today. In the meantime, the dollar strengthens to 1.038 euros and 0.9045 pounds, while crude oil reverses its course (Wti 0.25% to 92.86 dollars a barrel) and reduces the rise in natural gas (+ 0.51% to 157 euro per MWh), falling below the level of 160 euro for deliveries in November on the Ttf square in Amsterdam. Apart from the raw materials sector, with increases for BASF (+ 6.18%), Rio Tinto (+ 1.9%) and ArcelorMittal (+ 4%), the minus sign prevails almost everywhere, starting with producers of semiconductors Ams-Osram (-2.65%), Asml (-2.45%) and Stm (-1.6%). Weak petroleum products Saipem (-4.15%) and Aker BP, (-3.26%), together with TotalEnergies (-1.5%), which suffers from strikes in refineries in France and BP (-0.8%) ). Shell (-0.17%) and Eni (-0.25%) are more cautious. In the automotive field, Renault (+ 4.34%) is running, up by more than 6%, which has announced meetings with Nissan to review the balance of the Franco-Japanese alliance, Volvo (+ 3.34%) and BMW (+ 1.4%). Weak Stellantis (-0.75%), heavy Volkswagen (-3.52%) together with the Porsche holding company (-2.93%), subject to taking profits after the jump marked last Thursday in view of the listing of Porsche Ag , which has already exceeded the value of Wolfsburg in capitalization
In Amsterdam, the price of gas drops to 152 euros per megawatt hour (-2.7%), while the EU could reach an agreement on the plan in November. Positive cars (+ 0.1%) with Renault (+ 4.2%) talking with Nissan to strengthen the alliance. Banks are weak (-0.1%) while Tlc are running (+ 0.9%). Saipem slips into Piazza Affari (-4%). The other oil-related stocks are also bad with Eni (-0.8%) and Tenaris (-1.1%). In sharp decline Tim (-1.9%) and Prysmian (-1.6%). Atlantia continues to decline (-0.4%) to € 22.56, below the takeover bid price set at € 23 per share. In the main price list on Inwit shields (+ 2.1%). Mps also did well (-1.2%), while work was being done on the capital increase, Generali (+ 1.1%) and Banca Generali (+ 0.6%).
The differential between German BTPs and ten-year Bunds fell to 235.5 points, returning to the levels of the beginning of September after rumors about a possible green light from Berlin to make a common debt in the EU to tackle the energy crisis in the EU. The Italian annual yield fell by 2.1 points to 4.66%, while the German yield rose by 12.2 points to 2.31%.
