Milan positive in the early stages, the rest of Europe doing well too
The Milan Stock Exchange moved sharply up in the early stages of trading (Ftse Mib at +0.79% and 27,276 points) after the data on German inflation in January. The cost of living index in Germany grew by 1% on a monthly basis and by 8.7% on an annual basis, less than the +8.9% expected by the market. The data provided further evidence that the surge in consumer prices is beginning to cool off and that central bank monetary tightening will likely begin to slow down. Among the blue chips, the main energy companies are well tuned with Enel and Eni respectively at +0.47 and +1.10 per cent. Tim earns 0.57%. Among the financials, Unicredit +0.98%, Generali +0.85%, Intesa +0.81% and Mediobanca +0.59%, the latter awaiting the accounts. Lastly, as regards industrialists, Pirelli +1.13%, Stellantis +1.08%.
Positive signs also in the rest of Europe with Frankfurt leading the European squares with a gain of 0.95%. Paris moved on the same level, with an increase of 0.92%. London is more cautious at +0.41%.