European stock exchanges continue strong after Wall Street’s downward start. A negative climate prevails on the markets due to the lack of confidence in the measures announced by the ECB and the fear that the Fed will move aggressively to counter the jump in inflation. In addition to the stock market, the government bond market is also under tension, with yields rising sharply. On the currency front, the euro against the dollar changed little at 1.0443.
The stoxx 600 area index fell 2.4%. Milan, Frankfurt and London lose more than 3%, Paris (-2.5%), Madrid (-1.2%). Energy weighs on the lists, leaving 4.5% on the ground, with the price of oil falling. WTI drops to 113 dollars a barrel (-1.9%) and Brent to 116 dollars (-1.7%).
Cars (-2.9%) and technology (-2.7%) also fell sharply.
Utilities are down (-2.6%), with gas jumping to 136 euros per MWh (+ 13.14%). In London, prices rose 11.34% to 287 pence at the MMBTU.
At Piazza Affari, Tenaris (-5.8%) and Eni (-5.4%) slide.
Banks also suffer with Bper (-4%) and Banco Bpm (-3.7%).
On the shields Saipem (+ 4.5%) and Ferrari (+ 1.2%).
Source: Ansa
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