The main markets of the Old Continent are experiencing a continued decline, influenced by the recent statements made by Jerome Powell, the number one of the Federal Reserve (FED). Powell’s remarks about the possibility of further interest rate hikes to combat high inflation have weighed on the negotiations.
At 15.40, the FTSEMib has lost 0.86% and stands at 27,373 points, while the All Share index has also declined by 0.85%. The Mid Cap and Star indexes have followed the same downward trend, with declines of 0.86% and 0.62% respectively.
In Piazza Affari, the Italian stock exchange, Telecom Italia TIM is experiencing an increase in sales, albeit a modest one of -1.98%. This telecom company has made headlines as its board of directors has decided to reject the Cdp-Macquarie offer for its network in favor of the American fund Kkr’s offer worth 23 billion euros. According to reports from Il Sole24Ore, Kkr’s offer includes an exclusive agreement that will last until August or early September. Furthermore, there is a possibility that Kkr’s offer may be extended to include Tim itself and a company representing the public, with the intention of listing them on Piazza Affari.
On the other hand, the banking sector is experiencing a decline after a period of good performance. UniCredit has lost 1.17% of its value, while Intesa Sanpaolo has fallen by 1.23%. BancoBPM and BPER Bank are also in the red, with declines of 0.2% and 0.22% respectively.
In contrast, the utilities sector is seeing positive movement. A2A has gained 1.05% and Enel has increased by 0.08%.
Overall, the markets are being influenced by Powell’s statements and investors are reacting accordingly. The situation in Piazza Affari is particularly interesting, with Telecom Italia TIM making strategic decisions that could have significant implications for the company and the stock exchange. The banking sector, which had been performing well, is now experiencing a decline, while the utilities sector is showing signs of strength. Investors will be closely monitoring these developments in the coming days.
How have Jerome Powell’s recent remarks affected the European markets and what specific trends are being observed?
The markets across Europe are experiencing a downward trend, thanks to recent remarks made by Jerome Powell, the head of the Federal Reserve (FED). Powell’s mention of potential interest rate hikes to combat inflation has had a lasting impact on negotiations.
At around 15.40, the FTSEMib has lost 0.86% and now stands at 27,373 points. Similarly, the All Share index has seen a decline of 0.85%. The Mid Cap and Star indexes have also experienced this downward slope, with declines of 0.86% and 0.62% respectively.
Over in Piazza Affari, the Italian stock exchange, Telecom Italia TIM has seen a slight increase in sales, albeit a modest one of -1.98%. This telecom company has been making headlines due to their rejection of the Cdp-Macquarie offer for their network. Instead, they have opted for the American fund Kkr’s offer, which is worth a whopping 23 billion euros. According to reports, Kkr’s offer includes an exclusive agreement that will be in effect until August or early September. Additionally, there is a possibility that Kkr’s offer may extend to include Tim itself and a publicly represented company, with the intention of listing them on Piazza Affari.
On the other hand, the banking sector is witnessing a decline after a period of positive performance. UniCredit has lost 1.17% of its value, while Intesa Sanpaolo has fallen by 1.23%. BancoBPM and BPER Bank are also in the red, with declines of 0.2% and 0.22% respectively.
In contrast, the utilities sector is seeing some positive movement. A2A has gained 1.05% and Enel has increased by 0.08%.
Overall, investors are reacting to Powell’s statements, and this is having a significant impact on the markets. The situation in Piazza Affari is particularly intriguing, with Telecom Italia TIM making strategic decisions that could have far-reaching implications for both the company and the stock exchange. While the banking sector had been performing well, it is now experiencing a decline, whereas the utilities sector is proving to be resilient. In the days to come, investors will be closely monitoring these developments.
Jerome Powell’s remarks on interest rate hikes have had a detrimental impact on European markets, causing a decline. This shows how interconnected global economies are and the crucial role central banks play in maintaining stability.