Weak forward bags
European stocks weak along with US futures on fears of a new rate squeeze following US inflation data expected on Thursday. Despite the good news from Italy, with the better-than-estimated growth of industrial production in August (+ 2.3%), the eyes are on the interventions of numerous central bankers while the IMF summit is underway, from which they could emerge signals on upcoming monetary policy decisions. Milan lost 1.3%, Madrid 1.15%, London 0.72%, Frankfurt 0.66% and Paris 0.57%.
Crude oil continues to decline (Wti -1.94% to $ 89.36 per barrel), which fell below the threshold of $ 90 per barrel, while gas leaps (+ 4.8% to € 161.55 per MWh). On the other hand, the dollar is holding back at 1.029 euros and 145.52 yen, while it continues to rise to 0.905 pounds.
The oil sector is slowing down with Eni (-2.39%), BP (-2%), TotalEnergies (-1.84%) with strikes in French refineries, and Shell (-1.56%). Weak Aker BP (-3.92%), active in industrial services together with Saipem (-1.75%), which reverses its course and turns negative. Renault automakers weigh in (-3.28%), after the race on the eve following the start of negotiations with Nissan to review the alliance, Volvo (-2.55%), Porsche Holding (-2.29%) and Volkswagen (-1.7%), Mercedes (-1.67%) and Stellantis -1.44%).
Minus sign for Banco Bpm (-4.31%), Bper (-3.347%), Unicredit (-2.83%) and Intesa (-2.03%) banks, with the differential between Italian BTPs and German ten-year Bunds stable above 239 points and the Italian annual yield up by 5.7 points to 4.672%. Difficulties also for Bnp (-2.32%), Standard Chartered (-2.21%) and Banco Sabadell (-2.17%).