Equity markets nervous after slightly higher-than-expected US inflation. After an initial negative reaction, both Wall Street and the European stock exchanges recovered the plus sign. In September, US inflation rose 8.2% year-on-year, slowing the pace from the 8.5% growth of the previous month, but climbing faster than the + 8.1% expected from the previous month. consensus of analysts. Core inflation – net of the prices of energy and food goods – accelerated its pace, from + 6.3% in August to + 6.5%. These findings reinforce expectations of a new rate hike of 75 basis points by the Fed on November 2nd.
At Piazza Affari the Ftse Mib index marks a jump of 1.56% at the end of the year to 20,785 points. Difficult day for Amplifon down by 3.86%; Ferrari also struggled (-1.19%). Tenaris, on the other hand, was among the best with + 4.92%; also in evidence CNH (-5.69%) and ENI with + 2.56% at 11.688 euros.
Finally, a positive closing for Enel (+ 1.72%) which at the start of the day had slipped under the wall of 4 euros (intraday minimum at 3.956 euros), on the lowest since February 2017. The major Italian utility has completed the sale of the stake Enel Russia to Gazprom and Lukoil for around 137 million euros. As a result of the transaction, Enel has completed the sale of all its electricity generation assets in Russia, which include approximately 5.6 GW of conventional capacity and approximately 300 MW of wind capacity in various stages of development. The overall transaction generated a positive effect on the consolidated net financial debt of the Enel Group of approximately € 610 million and a negative impact on the reported Group net income of approximately € 1.3 billion.