Stock markets barely moved after Spanish inflation at two-year lows
The main European stock exchanges move uncertainly, with the lists around parity without taking a precise direction. After a downward start, Milan rose by 0.2%, together with Madrid (+0.2%) and Frankfurt (+0.1%) while Paris dropped by 0.6% and London by 0.1%. The data on Spanish inflation, which rose by 2.9% in May, below expectations and at its lowest for almost two years, does not shake the stock markets too much, which are now awaiting data on confidence in the Eurozone and in the USA where futures give up Wall Street, closed yesterday for Memorial day. The hopes for a slowdown in inflation that will lead the ECB to review its plans on monetary tightening give some breathing room to government bonds, whose yields fall by a few basis points throughout the Eurozone, with the 10-year BTP at 4 .23% and the spread with the Bund substantially stable at 184 points. Instead, the agony of gas continues, the price of which continues to fall, approaching 24 euros per megawatt hour, with TTF futures dropping 1.9% to 24.1 euros in Amsterdam. Oil was also weak with WTI down 0.6% and Brent down 0.8%. In Piazza Affari, MPS (+1.5%), Tim (+0.8%) and Enel (+0.7%) are leading the rises, while Leonardo (+1.3%), Tenaris (-1.1%) are struggling ) and Nexi (-1%).