The Milanese square remains the best in the Old Continent even at the end of the session (+ 0.53%) while Frankfurt, London and Paris go down, respectively, by 1.17%, 1.47% and 0.37 %. On the other side of the ocean, Wall Street is traveling in positive territory (+ 0.55% the S&P) trying to revive the market sentiment after the generalized drops of the eve of when the S&P 500 recorded its worst session of the year (-4 , 32% to 3,932 points). Yesterday, the data on American inflation broke the positive mood of European stock exchanges, which was triggered following the announcement of the maxi rate hike of the ECB on 8 September which had in turn pushed the banks. Further growth of 8.3% in August, higher than estimates, again sparked fears of an imminent Federal Reserve rate hike.
The banks are still pushing the Ftse Mib
The main index of Piazza Affari increased the increases in the second part of the morning supported by the acceleration of the banks: Banco Bpm + 3.16%, Bper + 3.76%, Unicredit + 2.4%, Fineco +2.8 %, Unicredit + 2.62%, Intesa Sanpaolo + 1.01%, Mediobanca + 1.02%. Also at the top of the list is Nexi (+ 3.76%) and the car: Stellantis rises by 0.9% after announcing that it has entered into an agreement with General Motors for the repurchase of shares relating to 69.1 million ordinary shares . Ferrari also rose sharply (+ 2.53%) which on 13 September after months of anticipation finally unveiled Purosangue, its first SUV.
The uncertainty of the energy crisis leaves utilities in the red
At the bottom of the Ftse Mib, on the other hand, the utilities are classified: Hera -3.61%, A2a -2.76%, Italgas -1.8%. To weigh on the securities are the energy crisis and the proposals that the European Commission is carrying out to counter the emergency. Among the main points is the reform of the electricity market, the redistribution of the extra profits of energy companies and the reduction of revenues from renewable energy generators. Meanwhile, the price of gas has returned to rise to 209 euros per megawatt hour (+ 5%), while oil trades fractionally with Brent at 93 dollars a barrel and WTI at 87 dollars.
Technoprobe rally on the EGM
On the list of small and medium-sized enterprises, on the other hand, there is earnings for Technoprobe (+ 6.01%) on which Bank of America Global Research has launched the hedging with a buy rating and target price of 10 euros. (Reserved reproduction)CopyAMP code.