With operators’ expectations concentrated on the inflation data which will be released from mid-week, European stock exchanges without a precise direction with the Ftse Mib index which closed down by 0.14% to 28,547 and the Ftse All share in drop of 0.19% to 30,549. London also closed down by 0.1%, while Paris and Frankfurt remained almost stable. Moscow is also around parity after a better first part of the day, squeezed between the price of gas up 5% to 30 euros per megawatt hour and the still weak ruble which also reached a level of 106 points against the euro, returning to its lows already achieved at the beginning of the war in Ukraine. Some tension on government bonds, with the spread between 10-year BTPs and German Bunds at 165 basis points against 164 at the start, while the yield on the Treasury product is 4.25%. Instead, the price of wheat jumped, which rose by 4% to 659 dollars for the 5,000-bushel contract, the US unit of measurement for cereals. In this context, Monte dei Paschi di Siena had an excellent session on the Milan Stock Exchange: the stock, still in the wake of Friday’s above-expected accounts and indications to analysts from CEO Luigi Lovaglio, closed up 9.4 % to 2.77 euros. Leonardo (+3.1%), Banco Bpm (+2.4%) and Unicredit also did well, up 1.3%. On the other hand, sales of Erg and Hera fell by more than two percentage points, with Iveco down by 3% and Interpump by 3.1%. Among the minor stocks, a day of very sharp decline for Visibilia after the death of the president and CEO Luca Giuseppe Reale Ruffino: the stock, suspended for a long time in the liquidity auction, concluded with a drop of 30% to 0.38 euro. Sif Italia was also very bad, of which Ruffino was always president and managing director: -20% final at 2.86 euros.
2023-08-07 16:55:56
#Borsa #Milan #awaits #inflation #data #Europe
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