MILANO – 11:20 am. European stock exchanges are rising in a week that prepares to close the worst six months for markets since 1970. The spotlight is on the central bankers forum opening in Sintra, Portugal, this evening. From here, important indications are expected on the monetary policy strategy of the Fed and the ECB from their respective presidents Jerome Powell e Christine Lagarde. Meanwhile, as expected, Russia’s technical default on foreign debt is recorded, with Moscow not being able to pay 100 million in interest on two bonds denominated in foreign currencies, whose payment was expected last May with a one month extra window, expired today. Eyes also on the G7, from where he expects a tough stance against Putin and probably the decisive step to introduce a price to his energy exports.
Milano starts well but then cancels the gains and returns to parity. The other European stock exchanges are more convinced with London which rises by 0.6%, Frankfurt 1.13% e Paris 0.42%. At Piazza Affari it is priceless at the start Saipem, on the day of the 2 billion capital increase, with the stock showing a theoretical increase of 20% while the right goes down. A little rough start for it spread. The BTP / Bund spread is positioned at 200 points, after closing Friday at 198 points, with the yield of the Italian ten-year period standing at 3.46%.
Asian stock exchanges closed higher, with the tourism and consumer sectors leading the gains. Shanghai declared victory over Covid-19 after the city reported zero new local cases for the first time in two months. In Mainland China, the Shanghai composite index ends at + 0.9% at 3,379.19 points and the Shenzhen index at + 1.1% at 2,216.98 points. In Hong Kong, the Hang Seng index rose by 2.4% to 22,229.52 points. Tokyo closed higher with the Nikkei 225 index which posted + 1.43% at 26,871.27 points and the Topix + 1.11% at 1,887.42.
On the commodities front, gas and oil prices are conditioned by the discussions underway at the G7, to work on the issue of energy measures. North Sea Brent contracts for August delivery remain stable at $ 113 per barrel, while Texas WTI is at $ 107.5.
Il gas price it is on the rise and is above 133 euros. After hitting a peak of € 137.305 at the opening, gas at the Dutch Ttf hub remains up 3.498% to € 133.
Me too’oro is directly affected by the ongoing discussions between the big names on the planet: on the table there is the hypothesis of blocking all imports of the metal from Russia. A prospect that pushes prices up