Session of redemption for the European stock exchanges at the end of a week characterized by strong nervousness and uncertainty, in which the European lists reached the lowest levels of the year. In Piazza Affari the Ftse Mib rose by 2.33%, in Frankfurt the Dax40 by 1.6% and in Paris the Cac40 by 3.23%. On a continental level, the performance of most sectors with tech, media and pharma leading the way was positive.
The positive trend on Wall Street gave a further boost in the afternoon, allowing the European indices to lengthen compared to the morning. After the speeches by Federal Reserve Chairman Jerome Powell in the US Senate and House in which he reiterated that the Central Bank’s commitment to inflation is’ unconditional ‘and that the United States has a’ very strong ‘, which has’ fully recovered ‘, the president of the European Central Bank, Christine Lagarde, said that rising inflation is a serious concern, the situation is serious but not desperate, confirming that’ the ECB it will maintain the orderly transmission of our monetary policy throughout the euro area ‘.
Meanwhile, the Central Bank of Beijing (PBOC) has increased the injection of liquidity into the banking system (almost 9 billion dollars in today’s operation). In Piazza Affari, Saipem went against the trend (-21.81%), in the third consecutive session of passion after the announcement of the terms of the 2 billion euro capital increase that will start on Monday. A day of purchases, on the other hand, for Recordati (+ 7.64%), which finished at the top of the Ftse Mib, followed by Interpump (+ 6.64%) and Italgas (+ 5.3%). On the currency market, the euro strengthens slightly and is worth $ 1.0552 (1.0534 at the start and 1.0517 at yesterday’s close) and 142.539 yen (141.92 and 141.55), when the dollar trades at 135.091 yen ( 134.7 and 134.594). The price of crude oil, which had been penalized by fears of a drop in demand in the event of a recession, rises again: the August delivery contract on Brent rises by 3.17% to 113.54 dollars a barrel and that of the same maturity on the Wti of the 3.68% to 108.11 dollars a barrel. Finally, in Amsterdam the future July of natural gas started to fall again (-3.26% to 129 euros per megawatt hour) after the rise recorded following the German alarm on supplies from Russia.