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Stock Exchange: Europe rises, Lagarde intervention expected, Milan + 1%

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(ANSA) – MILAN, 28 JUN – The main European stock exchanges continue to rise. Milan, Paris and Madrid gain over 1%, followed by London (+ 0.9%) and Frankfurt (+ 0.8%) awaiting the intervention of ECB President Christine Lagarde at the central bankers forum in Portugal. Consumer confidence in Germany fell less than estimates (-27.4 instead of -27.6 points), while in France it was below expectations (82 points out of 84 expected). US futures are positive in view of a long series of macro data, from inventories to the Redbook on trade, from house prices to consumer confidence and the Fed indices of Richmond and Dallas. In the evening the advances of the API on the weekly crude oil stocks. Precisely the latter appears to rise (Wti + 1.14% to 110.8 dollars per barrel) unlike gas, which reverses the route on the Amsterdam market and gives 2.1% to 126.75 euros per MWh for deliveries in July. In the meantime, the differential between German BTPs and Bunds (193.6 points) settled below 194 points, with the Tialian annual yield rising by 4.5 points to 3.547%.

The oil sector is highlighted with BP and Shell (+ 2.4%), followed by TotalEnergies (+ 2.14%) and Eni (+ 2%). Purchases on bank banks Sabadell (+ 2.55%) Bankinter (+ 2.37%), Mediobanca (+ 2.3%), Standard Chartered (+ 1.98%), Commerzbank (+ 1.95%) and SocGen ( + 1.57%). Bper (+ 1.7%), Unicredit (+ 1.6%), Inbtresa (+ 1.15%) and Banco Bpm (+ 1%) are more cautious. Weak microprocessor producers Stm (-0.58%) and Asml Holding (-1.45%), while automotive stocks contrasted, with increases for Renault (+ 3.94%) and Stellantis (+ 1.8%) , while Volvo slips (-3.18%), after the partial evacuation of the Swedish plant in Torslanda following suspected ammonia emissions reported by the local press. (HANDLE).

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Source: Ansa

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