Sales still prevail in markets paying for growing fears of a more hawkinsh-than-expected Federal Reserve. Darkening the mood in the markets were the words of the president of the Federal Reserve of St. Louis, James Bullard, who on Friday indicated a possible first hike in interest rates as early as 2022 as inflation rises faster than expected in precedence.
The Ftse Mib index, already recovering from the drop of almost 2% on Friday, opened below the threshold of 25 thousand points and now travels at 25,035 (-0.73%). Declines of over 1% for ENI, Tenaris and Bper. At the bottom of the list are Snam (-4.16%), Terna (-2.95%) and Poste Italiane (-2.82%) thanks to the detachment of the coupon balance.
CNH is also struggling (-1.82%) after the announcement of the agreement to acquire 100% of the shares of Raven Industries, a leader in precision agriculture technologies based in the United States. The acquisition will take place for $ 58 per share, representing a premium of 33.6% over the weighted average trading price of the past four weeks, or $ 2.1 billion of Enterprise Value.
Prysmian stands out among the few more brands (+ 1.34%) thanks to a US $ 900 million contract to supply state-of-the-art high voltage direct current cables to transmit renewable energy to over 1.2 million households.