European stock exchanges open higher with investors triggering profit-taking after the last few sessions in sharp decline. The markets are feeling less tense than in recent days ahead of the Fed. Jerome Powell’s speech at the Dollar Conference is expected in the afternoon.
The attention on the front of the war in Ukraine by Russia and the effects on the global economy remains high.
Start of session up for Frankfurt (+ 0.97%), Paris (+ 0.69%) and London (+ 0.76%). Milan also did well, up by 0.86%.
On the government bond front, the spred is also breathtaking. The yield of the Italian ten-year BTP falls below the 4% touched yesterday and the differential with the German Bund cools down slightly to 235 points.
The Milan stock exchange (+ 0.6%) files the initial rise, in line with the other European lists. Piazza Affari tries to redeem it after the negative wake of recent days. The spread between BTPs and Bunds falls again and stands at 234 points, with the Italian ten-year yield at 3.94%. Saipem takes off (+ 4.3%), after the signing of the memorandum of understanding with Trevi on drilling for wind farms. Unicredit (+ 1.5%) and Mediobanca (+ 1.3%) and Intesa (+ 0.5%) and Banco Bpm (+ 0.1%) also did well, while Bper was down (-1.1%) ). In light of Tim (+ 1.1%), grappling with the events of the Single Network. At the bottom of the Nexi price list (-1%), after the sale of the Piazza Affari trading technology platform to Euronext.
Asian stock exchanges closed lower, in the wake of the Wall Street thud. The nervousness continues on the markets ahead of the Fed meeting and with fears of more aggressive interventions on the rate hike. Jerome Powell’s speech at the Dollar Conference is expected in the afternoon. He is also keeping tabs on Russia’s war in Ukraine and its effects on the global economy. Closing down for Tokyo (-1.32%). On the currency front the yen is close to the lowest in 23 years against the dollar, at 134.60, and also weakens against the euro at 140.40. With positive negotiations still in progress Hong Kong (+ 0.2%), Shanghai flat (+ 0.01%), Shenzhen down (-0.7%). Seoul is down (-0.5%) while Mumbai is positive (+ 0.3%). On the macroeconomic front, the Zew index of sentiment on the German economy and industrial production in the Eurozone is coming. From the United States the index of the main production prices, the weekly oil stocks (API). The monthly OPEC report is also coming.
Source: Ansa
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