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Stock Exchange: Milan nearly -3% in closing, minigree brakes Eni

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Pnrr, Colao:

(ANSA) – MILAN, 05 JUL – Piazza Affari closed in sharp decline together with its European sisters and Wall Street, at the reopening after Independece Day, due to recession fears. The Ftse Mib index left 2.99% on the field at 20,705 points, just under 3%, but at the end of the rest of Europe, amidst trades in strong recovery for 2.01 billion euros in value, almost 700 millions more than before.

The differential between German 10-year BTPs and Bunds rose to 196.2 points against 189 points at the previous closing, while the Italian annual yield fell by 9.1 points to 3.134%. If in the first part of the session the decline of the euro to a minimum on the dollar (1.0238 greenbacks for each single currency) weighed, in an almost equal ratio, in the end the fall in crude oil took over, below $ 100 a barrel (WTI) due to fears of a drop in demand in the event of a recession. In particular, according to Citi analysts, black gold prices could fall as low as $ 65 a barrel and beyond.

The sector’s stocks paid the consequences, from Tenaris (-8.25%), which produces pipes for the plants, to Eni (-5.79%) and Saras (-4.71%). Saipem is more cautious (-2.84%), on the last day of negotiations of the rights to the € 2 billion capital increase (-93.89%).

The entire industrial sector is under pressure, from Iveco (-7.64%) to Leonardo (-7.47%), from Cnh (-4.01%) to Stellantis (-3.07%), after the drop in over 14% of the car market in France in June, which also weighed on Pirelli (-3.31%).

Sales on Tim (-4.58%) two days after Capital Market Day.

Few increases, limited to Amplifon (+ 2.49%), Diasorin (+ 0.8%), Terna (+ 0.19%) and Ferrari (+ 0.17%). Bper banks (-5.07%), Banco Bpm (-4.57%), Intesa (-3.12%) and Unicredit (-2.84%) are heavy. (HANDLE).

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Source: Ansa

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