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Wednesday, November 30, 2022

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Stock Exchange: Milan (-1%) weak with Europe, Fed expected

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Euro splash, now worth less than a dollar (ANSA)

Piazza Affari in the first trading of the day, which marks the sixth month of war between Russia and Ukraine, moves below par in a nervous climate together with the other European stock exchanges, with operators fearing negative signals from the start of the Federal Reserve meeting tomorrow in Jackson Hole.

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Piazza Affari, after a slightly lower start, drops by 1%, with Frankfurt losing 0.8%, Amsterdam and London 0.7%, while Paris is down by 0.6%. With gas quite stable on 270 euros per megawatt hour, even the Moscow stock markets show a drop below one percentage point.

Government bonds from the Old Continent are still in tension, with the spread between 10-year German BTPs and Bunds at 234 points. In this rather volatile climate on the Milan stock exchange, among the main groups, Saipem, Nexi and Iveco fell by more than two percentage points. Banks are generally weak (Unicredit -1.5%) while Campari, Diasorin and Tenaris keep on par.

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Source: Ansa

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