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Stock market: Europe worsens with US futures, Fed minute eyes

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Ukraine, first UN ship with cereals for Africa (ANSA)

(ANSA) – MILAN, AUGUST 17 – European stock exchanges accentuate the drops in the morning in the wake of the negative trend of negative futures on Wall Street, while sales also hit Eurozone government bonds, whose yields are significantly increasing.

Investors fear that the Fed will continue firmly on the path of monetary tightening, even at the cost of sacrificing economic growth. On this front, indications are expected in the evening from the minutes of the Fed, from whose reading it could emerge that the board in July considered a ‘jumbo’ increase of 100 basis points.

Frankfurt leads the decline (-1.3%) ahead of Paris (-0.7%), Madrid (-0.7%), London (-0.4%) and Milan (-0.5%) after the data slightly below the expectations of the GDP of the Eurozone. In New York, futures on the main indices are down almost 1%. Government bond yields rose with Italy in the black jersey: those of ten-year BTPs rose by 17 basis points, to 3.29%, while the spread with the Bund widened to 222 basis points.

On the energy front, the ttf futures in Amsterdam rose by 1.1% to 228.5 euros per megawatt hour while oil is not very moved with the wti at 86.5 dollars and brent at 92 dollars. In Piazza Affari, Iveco (-2.8%), Saipem (-2.8%), Buzzi (+ 2.6%), Tenaris (+ 2.5%) and Pirelli (-2%) are suffering, banks with Banco Bpm (-2%) and Mps (-1.5%) while sales continue on Tim (-1.9%). (HANDLE).

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Source: Ansa

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