The Milan Stock Exchange today
Another day to forget for the Milan Stock Exchange and for the main European price lists. Piazza Affari closes with a loss of -0.54%, limited in the final after the opening of Wall Street, but still negative. Weighing the uncertainty on the next moves of the world central banks and the consequent new possible rate hike. And while the decisions of the Fed and ECB are awaited, during the day the central bank of SwedenRiksbank, raised interest rates by 0.5%, bringing them to 3.5 percent, because inflation in the country is still too high.
So they sink in Milan BPER (-6.77%), Banco Bpm (-5.29%) and Mps (-4.93%). Prysmian is also doing very badly (-3.88%), while they stand above the percentage point Amplifon (+1.24%), Tenaris (1.5%) and Telecom (+1.62%).
The encouraging data from the US quarterly reports, which saw big tech as protagonists, did not help to reverse the downward trend. Microsoft e Alphabet, in particular, recorded better than expected results. But in the background, what is scary is the rekindling of the banking crisis in the USA, driven by escape of deposits. The shares of First Republic Bankthe latest victim of the bank run, also fell precipitously today.
Moving on to the other European Stock Exchanges, the worst is that of Paris which closed down by 0.8%, with Amsterdam down by 0.7%. Negatives of 0.4% for both London and Frankfurt, while Madrid closed flat. On the currency market, the euro is worth 1.1047 dollars (closing yesterday at 1.0977) and 147.61 yen (from 146.90), while the dollar/yen ratio is at 133.60 (133.93). Natural gas remains below 40 euros per megawatt hour: it is worth 38.3 euros (-3.7%) in the May contract on the Amsterdam TTF. After an attempt to recover, the price of oil is at a standstill: the WTI in June trades at 77 dollars a barrel. In the final, the yield differential between the 10-year benchmark BTP and the same German maturity stood at 187 basis points.