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Stock Exchange: Milan stands out in an uncertain Europe, euro on the lowest level

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The price of gas flies, Italian storage close to 80% (ANSA)

(ANSA) – MILAN, AUGUST 23 – Piazza Affari wears the pink jersey in an uncertain Europe, whose price lists are affected by fears of a recession fueled by the race in energy prices.

The euro remains weak against the dollar, close to the lows set in the morning, while gas slows down after a very volatile first part of the session. More sales on Eurozone debt, put under pressure by inflation and monetary tightening, with BTPs once again showing the worst performances.

In Milan, the Ftse Mib advanced by 0.8% supported by the energy sector, which shines throughout Europe in the wake of the 1.6% rise in the price of oil, which could benefit from production cuts by OPEC + . Tenaris advanced by 5.8%, Saipem by 2.7% and Eni by 2.2%. Tim rebounds from the lows (+ 2.6%) after the purchase of shares for 200 thousand euros by the ceo Pietro Labriola. Awakening of bankers with Bper (+ 2.7%) and Unicredit (+ 2.5%) while Unipol stands out among insurance companies (+ 2.2%). Mps on the other hand (+ 2.6%), health stocks with Diasorin (-2%) and Amplifon (-1.7%) and utilities with Snam (-0.8%).

In Europe, Frankfurt rose by 0.1%, London and Madrid lost 0.4% while Paris was unchanged. The euro remains weak, with a drop of 0.2% against the dollar to 0.992, due to fears about the stability of the economy of the Old Continent and the different pace of the Fed and the ECB in monetary tightening. The gas is holding back, with TTF futures losing 1.3% to 273 euros per megawatt hour. The BTP-Bund spread rises to 234 points, with our ten-year yield rising to 3.65%. (HANDLE).

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Source: Ansa

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