The new Russian offensive in Ukraine, where the Moscow army is new towards Kiev while the negotiations between the parties do not seem able to guarantee a truce at the moment, frightens the European stock markets, which are also dealing with the impact of the sanctions launched by Western powers against Vladimir Putin’s government. While oil flies to New York, where prices rise by 10.8% to 106.29 dollars a barrel.
At Piazza Affari, the Ftse Mib was unable to find support in the new increases in energy and defense stocks and ended the day down 4.14% to 24,364 points, the lowest since July 2021. In the main basket of the Milan Stock Exchange, the sales hit the banks again, while the EU countries are defining the list of Russian institutions that will be excluded from the international Swift circuit. Mediobanca thus lost 7.83%, Intesa Sanpaolo 7.72% and Bper 7.44%. Among the worst stocks Tim, which fell by 9.05% also in the wake of rumors according to which the group is trying to convince Kkr to withdraw the bid by involving the US giant in the spinoff plan of the fixed network. At the other end of the Ftse Mib, Eni gained 3.04% riding the run of the oil price and taking advantage of the fact that among the Russian banks disconnected from Swift there should not be Gazprombank, the main interface of the Six-legged Dog group on the Russian market. Leonardo also did well (+ 1.45%), who continues to take advantage of the planned rearmament of European countries from an anti-Russian perspective, as well as the possible evolutions of the Oto Melara dossier. On the foreign exchange market, the dollar strengthened to 1.1111 for a euro from 1.1229 closing yesterday. The single European currency also fell sharply against the yen at 127.65 (from 129.31 yesterday), while the dollar / yen ratio stood at 114.89 (115.00). The price of oil rose sharply: Brent in May rose by 7.41% to $ 105.23 a barrel, while in New York the WTI in April jumped by 8.34% to $ 103.70. Gas also rises: the April contract on the Ttf trades at 122.75 euros per megawatt hour (+ 24.5%).