MILANO – Orphans of Wall Street, which will be closed today for the holidays of July 4, the European stock exchanges are starting to rise despite many concerns in the background, from the uncertainties on the geopollitic front, with the retreat of the forces of Kiev in Ukraine to the unbridled race of inflation and the countermeasures implemented by central banks. In the first exchanges a London the Ftse 100 index rose by 0.84%, a Frankfurt the Dax gains 0.78% ea Paris Cac 40 0.76%. TO Piazza Affari the Ftse Mib marks + 0.74% at 21,512 points. In Asia, Tokyo closed positively (+ 0.84%). The price of gas in Amsterdam reached 151 euros per megawatt hour (+ 2.17%), after a new alarm on supplies was raised in Germany.
Nagel (Bundesbank): “More substantial rate hike if inflation remains high”
“There are signs that inflation will remain high for now and will only fall gradually next year”, and for this reason, after the rate hike announced for July 21 and that announced for September 8, the number of next steps “It will depend on the medium-term outlook of inflation. If it does not improve, a larger increase would be appropriate”: Bundesbank president Joachim Nagel said this, speaking at the Finance summit in Frankfurt.
Germany, -0.5% for exports in May
In May 2022, German exports decreased by 0.5% and imports increased by 2.7% on a calendar and seasonally adjusted basis compared to April 2022. Based on provisional data, the Federal Statistical Office Destatis also reports that exports increased by 11.7% and imports by 27.8% compared to May 2021.
Exports to the Russian Federation increased by 29.4% to € 1.0 billion in May 2022 compared to April 2022, following a steep drop of almost 60% in March 2022 compared to February 2022 and by 9.9% in April 2022 compared to March 2022. Compared to May 2021, they decreased by 54.6%. Imports from Russia decreased 9.8% to 3.3 billion euros in May 2022 from April 2022