Stock market: weak Europe, crude oil and microchips down, Milan -0.9%

Fashion: 53 billion Italian market, 2022 starts well (ANSA)

(ANSA) – MILAN, MAY 24 – The main European stock exchanges remain weak after more than an hour and a half of trading, with US futures falling and SME indices in France and Germany above estimates, unlike those of the Eurozone and the United Kingdom. The similar US data will arrive in the afternoon, together with the Redbook on trade, the Chicago Fed and the University of Richmond indices. Speeches by Fed Presidents Jerome Powell and ECB Chgristine Lagarde are expected in the evening, while Bank of England Deputy Governor Sam Woods speaks at the end of the morning.

London (-0.56%) is the best, followed by Madrid (-0.61%), Milan (-0.83%), Frankfurt (-0.9%) and Paris (-1.22%). US futures were negative. The differential between German BTPs and ten-year Bunds remained stable at 202.7 points, with the Italian annual yield down by 1.2 basis points to 3.012%. Weak crude oil (WTI -0.33% to $ 109.95 a barrel), steel (-1.81% to $ 4,552 a ton) and gold (-0.06% to $ 1,859 an ounce) ), while gas goes up again (+ 4.46% to 87 euros per MWh) in Amsterdam. On the currency front, the euro appreciates by 0.18% against the dollar, but the ruble gains ground on both currencies (+ 1.7% to 57.53 against the dollar and + 1.58% to 61.6 against the euro ).

Sales are concentrated on microprocessor manufacturers Be Semiconductor (-2.75%), Nordic (-2.3%), Ams.Osram (-2.26%) and Stm (-2%). Weak were the petroleum Bp (-1.92%), Shell (-1.55%), TotalEnergies (-1.22%) and Eni (-1.15%). Saipem slips (-3.59%), subject to profit taking, weighs Tenaris (-2.31%). The cars Volvo (-2.17%), Stellantis (-1.39%), Renault (-1%) and Volkswagen (-0.7%) sell. Banks contrasted with increases for Barclays (+ 2.32%), Sabadell (+ 1.63%) Commerzbank (+ 1.1%) and Unicredit (+ 0.4%), while Bnp slipped (-2.52% ), Lloyds (-1.19%), Mediobanca (-1.55%) SocGen (-0.74%) and Intesa (-0.7%).

(HANDLE).

Source: Ansa

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