The geopolitical tensions on the Ukrainian front, the increasingly nervous wait for the indications from the Fed on interest rates and, last but not least, the uncertainty about the election of the future president of the Republic, fold the Milan stock exchange, which recorded a drop of 4% and at the end of the session won the little coveted title of the worst financial center in Europe. The Stoxx 600 index, which brings together the main listed stocks in Europe, closed down 3.6%, which is equivalent to a loss of 386 billion in capitalization lost in a single session.
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Wall Street recovers and closes positively
The stock exchanges in New York almost collapsed (the Nasdaq lost more than 4.5%) and then recovered everything in the final session and managed to close in positive territory. The turning point in the last two hours, with the lists having regained momentum, recovered the losses and turned positive. The Dow Jones thus closes up by 0.30% at 34.466.67 points, the Nasdaq advances by 0.63% at 13.855.13 points while the S&P 500 posted a progress of 0.33% to 4.4012.33 points.
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The clash in Ukraine affects the price lists
Nervousness prevailed on the stock exchanges. In addition to the question marks created by monetary policy, which will be modified by the Fed’s next decision on interest rates, to depress the lists above all the prospect of a possible armed confrontation in Ukraine, with the escalation of tensions between the US and Russia which has already been staged in the last hours. A risk witnessed by the thud of the Moscow Stock Exchange (-6% the Moex index), by the umpteenth surge in the price of gas in Amsterdam (92.6 euros per megawatt hour, + 17%) and by the double correction of both the Nasdaq that of the S&P on Wall Street.
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Piazza Affari
In this general climate, for Piazza Affari there is also the uncertainty about the name of the future president of the Republic, even if for now operators believe that a “promotion” of Mario Draghi at the Quirinale is more likely. The coupon effect of Enel and Snam weighed 0.39% on the Milanese index. Sales have not spared none of the main titles, starting from the auto sector of the “galaxy” Agnelli with Stellantis (-7.4%), Iveco (-7.1%) and Cnh (-6.6%). Male DiaSorin (-5.7%) on the day the CEO Carlo Rosa was indicted for the alleged crime of insider trading. The damage was limited by utilities such as Italgas (-1.3%) and the Bolognese Hera (-1.4%) which, like all the other securities of the main index of the Milan Stock Exchange, however closed in negative territory. Red also for Eni (-3.2%), which it announced the listing on the Oslo Stock Exchange of the subsidiary Var Energi AS, and for Tim (-2.5%) who in recent days has appointed Pietro Labriola as the new CEO. UniCredit (-2.5%) was also under the lens throughout the day and a session to forget for Azimut (-5.7%), Pirelli (-5.5%), Inwit (-5.4%) and Tenaris (-4.9%). Outside the main price list, tear instead for ePrice (+ 48.6%) after the start of exclusive negotiations with Negma Group, an investment company in Dubai and former shareholder of the e-commerce group.
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Foreign exchange and raw materials
On the foreign exchange front, the euro is worth 1.1313 dollars (from 1.1345 dollars on Friday) and 128.84 yen (129.06) while the dollar / yen at 113.88 (113.765). Finally, oil also slipped with the WTI in March down to 82.5 dollars (-3.2%) and Brent at 85.6 dollars (-2.7 percent).
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