(ANSA) – MILAN, JUN 29 – European stock exchanges in the red in mid-morning with Frankfurt leading the decline (-1.3%), ahead of Madrid (-1%), Milan (-0.9%), Paris ( -0.8%) and London (-0.6%) while the market fears about the effects of monetary tightening on growth are returning, with Morgan Stanley expecting a recession in Europe in the fourth quarter of 2022 and the data on Spanish inflation, which jumped 10% in June, which exacerbates concerns.
Sovereign bonds thus reduce the start-up increases, with the BTP yield returning to 3.46%, after falling to 3.41% and the spread with the bund settling just below 190 basis points. The Russian squeeze on gas keeps the price of methane in tension in Amsterdam (+ 3.3% to 133.5 euros) while even oil, after a sluggish start, regains parity, with Brent nearing $ 118 per barrel and the wti to 112 dollars.
On the European lists, which are also digesting the confirmation by Chinese President Xi of the ‘zero Covid’ policy, the various industrial sectors are all in the red with the sole exception of energy (+ 0.7%). The stocks in the real estate sector, subject to downgrade by Bofa, and grappling with fears about the rise in rates, and cars, after the decision of the EU to stop combustion engines starting from 2035, are bad. (ANSA) .
Source: Ansa
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