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Today’s stock exchanges March 22: opening down, Fed waiting for rates

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Today’s stock exchanges March 22: opening down, Fed waiting for rates

MILAN. European stock exchanges on lead feet in the early stages of a session which will be characterized by expectations for the Fed’s decision on interest rates. The market expects a slowdown in the monetary policy tightening, despite inflation still not under control, due to the turbulence on the financial markets linked to the banking crisis. Fed Funds futures view a 25bp upside as likely at 87.8%, while maintaining the status quo is quoted at 12.2%.

In Piazza Affari, the Ftse Mib marks +0.13%, while in the rest of Europe Frankfurt rises by 0.16% and Amsterdam by 0.37%, with Paris down by a fractional 0.05%. Among the main Milanese stocks, after two days of rally following the rescue of Credit Suisse, which will be absorbed by Ubs, the race of banks stops, mostly slightly down: Mps drops 0.82% and B for 0, 25%. In the red Terna (-1.28%), while Hera gains 3.21% the day after the publication of the 2022 accounts. On the foreign exchange market, the euro remains strong at 1.0768 dollars from 1.0770 yesterday in closure.

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The single currency is also worth 142.62 yen (from 142.38), while the dollar/yen ratio is 132.43 (from 132.22). On the energy front, oil fell after two rising sessions: WTI in May traded at 69.12 dollars a barrel (-0.79%), the same delivery on Brent at 74.77 dollars (-0.73 %). Natural gas prices in Amsterdam rose by 0.9% to 42.8 euros per megawatt hour.

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