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Stock market: Europe in decline, eyes on US inflation, Milan -0.9%

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Beach holidays, turnover of 31 billion as in pre-Covid era (ANSA)

(ANSA) – MILAN, JUL 13 – The main European stock exchanges remain weak at the mid-session target, with positive US futures on the day of American inflation. The worst is Frankfurt (-1.05%) behind Milan and Paris (-0.9% both), while London and Madrid limit the decline to 0.7%. UK GDP is better than estimated, no surprises on German inflation, which remains at high levels compared to 2021 (+ 7.6%), as well as Spanish (+ 10.6%) and French inflation (+6%). , 5%). The differential between German BTPs and Bunds fell back to 196.8 points, with the Italian annual yield reducing the rise to 0.3% to 3.1 points.

Weak banks Bnp (-2.37%), SocGen (-2.19%) and Credit Agricole (-1.33%), while Commerzbank decreases (-0.53%).

In Piazza Affari, Bper remains in tension (-3%), while Banco Bpm (-0.57%), Intesa (-0.4%) and Unicredit (-0.19%) are trying to rebound. Shell oil (+ 0.17%), Eni (+ 0.45%) and BP (+ 0.69%) turned positive with crude oil rising (Wti + 0.94% to 96.75 dollars a barrel ), which however remains below 100 dollars, pending US weekly stocks. On the other hand, gas is running (+ 5.69% to 182.55 euros per MWh in Amsterdam and + 18.66% to 289.55 pence per Mbtu in London).

Weak were the automakers Volvo (-2.82%), Mercedes (-2.65%), Stellantis (-1.45%) and Renault (-1.2%). On the other hand, the luxury sector did well, from Cucinelli (+ 5.99%), after the preliminaries, to Hugo Boss (+ 2.03%) and Adidas (+ 0.55%). Going against the trend Moncler (-0.9%) in Piazza Affari, where Saipem sells 38.79% after the auction of the unexercised rights on the 2 billion capital increase, with subscriptions to 9.9%, which brought the total to 79.9%, leaving the remainder to the banks of the underwriting syndicate. (HANDLE).

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Source: Ansa

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