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Stock market: Europe uncertain after Wall Street waiting for Powell

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

(ANSA) – MILAN, AUG 25 – European stock exchanges remain uncertain after the positive opening on Wall Street, while investors are waiting to hear the words of Jerome Powell tomorrow in Jackson Hole and continue to carefully monitor the price movement of gas. Frankfurt advanced by 0.3%, London by 0.2% while Paris and Milan lost 0.1%.

The price of Amsterdam gas futures remains well above € 310 (+ 6.4% to € 310.8) while Eurozone sovereign bond yields are all down, in the wake of easing money market bets on the tight ECB (186 points of increase by July, 15 less than yesterday). The euro remains below par with the dollar, with which it trades at 0.997, the BTP-Bund spread drops to 222 points, with the Italian ten-year yield down to 3.54%, despite the more consistent bearish bets since the crisis of the 2008 set up by hedge funds against Italian debt. Piazza Affari highlighted Eni (+ 2.3%) and Tenaris (+ 1.6%), with the best energy sectors in Europe, together with raw materials and retailers. Exor (+ 1.2%) and Buzzi (+ 0.7%) also did well, while Saipem (-3.7%) and the banks slipped, with Banco Bpm (-2.9%) and Bper (-2.3% ) leading the downside. Finecobank (-2.2%) Recordati (-1.8%) and Nexi (-1.6%) were also bad. (HANDLE).

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Source: Ansa

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