After a brief attempt to rebound at the start, Piazza Affari gives in to sales, aligning itself with the general mood of the markets, weighing on the fear of a more aggressive monetary tightening by the Federal Reserve, in light of the data on American inflation, which in January it accelerated further to 7.5%, the highest level since 1982. After its launch, the Ftse Mib index fell by more than 1 percentage point in the area of 26,838 points.
The likelihood of a 50 basis point rate hike in March has increased to nearly 89% from 24% two days ago, according to CME Group’s FedWatch Barometer. Goldman Sachs has changed its forecasts and now expects a full seven rate hikes of 25 basis points this year, up from five hikes previously expected. In Europe, however, the number one of the ECB, Christine Lagarde, in an interview with the newspaper Redaktionsnetzwerk Deutschland wanted to specify: “Raising rates would not solve any of the current problems”, excluding a policy similar to the American one.
Returning to Piazza Affari, no title sees the positive sign. Attention to the banks, with Banco Bom failing to make a price, suspended for excess of the rise on the check price with a theoretical + 8%. Press indiscretions that see Unicredit ready to launch an offer on Banco Bpm push the buy orders on the stock.
Among the most affected by sales was Banca Mediolanum, down by 3%, followed by Banca Generali and Poste, which both lost around 2%.