(ANSA) – MILAN, AUGUST 22 – European stock markets weak at the start of the week, with the specter of the Fed looming over the markets ahead of the Jackson Hole summit that precedes the weekend.
In fact, investors are expecting confirmation of the intentions of the US Central Bank in terms of interest rates to tackle the galloping inflation, to which the cost of gas contributes. With the announcement of a new block of the Nord Stream gas pipeline for 3 days by Gazprom, the prices of methane today jump by more than 10.5% above 270 euros per MWh in Amstrerdam. The differential between German BTPs and ten-year Bunds remained stable at 228 points.
The worst today is Milan (-1.4%), preceded by Frankfurt (-1.35%), Paris (-1.2%) ,, Madrid (-1.1%) and London (-0.5% ). The drop in crude oil (Wti -1.45% to 89.45 dollars a barrel) is holding back the oil companies Eni (-1.4%), Shell (-1%), Bp (-0.85%) and TotalEnergies (- 0.8%). But the biggest losses are recorded in the car sector, starting with Stellantis and Volkswagen (-3% both) and the Porsche holding (-3.2%), in view of the spin-off and listing of the sports car manufacturer of the same name in the autumn. Renault (-2.75%), Mercedes and BMW (-2.3% both) also sell. Heavy Iveco (-3.5%).
Semiconductor manufacturers Be (-3%), Nordic (-2.8%), Asm (-2.4%) and Stm (-1.4%) also fell. Finally, the banks Unicredit (-3.25%), SocGen (-2.85%), Commerzbank (-2.7%), Bbva (-2.65%) and Intesa (-2.8%) are under pressure, together with Sabadell (-2.45%), Bnp (-2.4%) and Santander (-2.2%). Positive were the pharmaceuticals Siegfrid Holdign (+ 1.87%), Sanofi (+ 1.05%) and AstraZeneca (+ 1%). (HANDLE).
Source: Ansa
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