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Stock Exchange: Europe turns down with US futures, Milan -0.7%

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Energy crisis, the EU prepares the mandatory cut in gas consumption (ANSA)

(ANSA) – MILAN, 20 JUL – European stock exchanges are on the decline together with US futures at the mid-session mark. The markets fear a greater rate hike by the ECB, which could increase them by 50 basis points to tomorrow’s board, which will also address the issue of the anti-spread shield. In Piazza Affari there is also the debate in the Senate on the report by Prime Minister Mario Draghi, with the vote on confidence expected in the evening. Milan and Madrid (-0.7% both) are the worst, preceded by Frankfurt (-0.37%), Paris and London (-0.2% both). The differential between Italian BTPs and German ten-year Bunds dates back to 200 points, with the yield down by 12 points to 3.19%, below the psychological threshold of 3.2%.

The banks Intesa (-1.15%) and Bper (-1.05%) are returning, while Unicredit is weak (-0.08%), while Banco Bpm (+ 0.2%) and above all Mps ( + 2.18%). The Spanish Sabadell (-2.1%), Santander (-2.05%), Caixabank (-1.95%) and Bbva (-1.8%) are holding back.

In contrast to Credit Agricole (+ 0.64%), Commerzbank was weak (-0.52%).

Volvo weighs (-4.6%), which has cut estimates for the current year. A minus sign also for Volkswagen (-2.05%), Mercedes (-1.75%) and Renault (-1.27%), while Stellantis limits the decline to 0.9%. In the telephone field, Tim stands out (+ 2.4%), driven by the ‘outperform’ recommendation of Oddo analysts. Freenet follows (+ 0.94%), weak Vodafone (-0.2%). (HANDLE).

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Source: Ansa

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