MILANO – Europe restarts positive in a day that mainly looks to the minutes of the last meeting of the Fed’s monetary policy committee. The reports could give indications for the markets on the attitude that the American central bank intends to adopt in the coming months after the increase in rates of 50 basis points announced at the end of the same meeting. In no particular order are the Asian stock exchanges: the Chinese indices are flat while Tokyo lost 1.4%.
The price of the gas: on the Amsterdam market, a reference for Europe: methane futures for delivery in February opened the session at 67 euros per megawatt hour, the lowest since 21 January, about a month before the start of the war in Ukraine.
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Curbs inflation in Europe, the spread falls
Curbs inflation in Europe, the spread falls
Strong easing of pressure on government bonds of the Old Continent: with the first trades of the day, on the electronic markets the Italian 10-year BTP sees its yield drop by 13 basis points, the Spanish and Portuguese bonds by ten, the German Bund by eight. It is a clear signal that the slowdown in inflation recorded yesterday in Germany and today in France makes operators think that the ECB may loosen its monetary tightening programme. The spread between the 10-year Italian BTP and the corresponding German Bund in this context fell to 205 basis points from 210 at yesterday’s closing.
Europe opens higher
The European Stock Exchanges open with progress, continuing the trend of the beginning of the year, awaiting the minutes of the last meeting of the Federal Reserve which will provide further indications to the markets. In Milan, the Ftse Mib index gains 0.43% to 24,541 points, while Frankfurt +0.63%, Paris +0.77% and London +0.24% are also up.
The banking sector did well in Piazza Affari with Banco Bpm +1.52%, Finecobank +1.49% and Unicredit +1.09%. On the other hand, Leonardo dropped by about half a percentage point, energy badly with Eni -1.16%, black shirt for Tenaris which lost 2.59%.
The decline in oil continues
The decline in the price of crude oil continues, albeit more contained, after yesterday’s crash when it dropped more than 4%. On the Asian markets, Brent dropped 0.6% to 81.6 dollars a barrel, Wti dropped 0.7% to 76.3 dollars. Yesterday Brent suffered the largest daily loss in more than three months on concerns about demand and the resilience of the global economy.
The euro opens higher
The euro opens slightly higher on the markets where it changes hands at 1.0578 dollars (+0.2%). In Asia, the yen drops to 130.4.
Gas drops below $70
Gas prices drop sharply on the Amsterdam market, a reference for Europe: natural gas futures for delivery in February opened the session at 67 euros per megawatt hour, the lowest since 21 January, about a month before the start of the war in Ukraine
Asia in no particular order, Tokyo in decline
Stock markets in Asia and the Pacific area in different directions, with traders mainly waiting for indications on US monetary policy from the minutes of the last meeting of the Federal Reserve, which will be released this evening with closed European stock exchanges.
In this context, Tokyo lost 1.4% with the Nikkei 225 index, while Hong Kong ran and is moving at the end of the session on a rise of 2.5%. The Chinese Stock Exchanges were flat, with final increases of 1.6% in Seoul and Sydney, while Mumbai lost about one percentage point.