Home » Tensions on Treasury rates sink the stock exchanges, Piazza Affari KO with -5% Stm. ENI is the only one to be saved

Tensions on Treasury rates sink the stock exchanges, Piazza Affari KO with -5% Stm. ENI is the only one to be saved

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Global sell-off in equity markets today with fears of inflation returning to worry investors. Additionally, weak consumer confidence data exacerbated concerns about slowing US economic growth.

Expectations of higher inflation on both sides of the Atlantic are fueling fears that central banks will raise interest rates earlier than expected. In this regard, Jerome Powell’s speech to the US Senate shows that inflation is seen as “high and will probably remain so in the coming months, before slowing down”.

On Wall Street, drops in the order of 1.8% for the S&P 500 and even -2.6% for the Nasdaq. Rising volatility with the Vix index in area 24 (+ 28%). On the interest rate front, the 10-year US Treasury is at the top since June, reaching a peak of 1.56% today, while the two-year is at its highest at one and a half years. Rising yields also in Europe.

In closing the Ftse Mib marks -2.15% to 25,573 points.

On the Piazza Affari parterre today STM suffered a lot, closing at over -5% in the wake of the sell-off from tech stocks precisely by virtue of the rise in rates. Amplifon is also bad at -5.15% which confirms the weakness highlighted yesterday. Over -4% Nexi, while Unicredit was the worst among the banks with -3.97% at 11,086 euros. The only plus sign with + 0.7% was ENI with oil that keeps rising close to the top since 2018.

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