(ANSA) – MILAN, AUGUST 21 – Stock markets are still in a waiting position ahead of the Jackson Hole summit, with the hope that concrete signals from central banks on the policy of reducing interest rates will come from there. And in this climate, the Milan Stock Exchange was by a few fractions the best in Europe, with the Ftse Mib index closing up 0.72% to 33,312 points and the Ftse All share with an identical increase to 35,471 points. All the stock exchanges on the Old Continent, however, closed with a timid rise: Paris, Frankfurt and Amsterdam up 0.5%, with Madrid up 0.3%. London was more cautious, however, growing 0.1%. European operators were unable to see the minutes of the last session of the Fed’s Federal Open Market Committee, which are distributed after the markets have closed, but the government bond sector also moved calmly, with the spread between 10-year BTPs and German Bunds marginally down to 136.7 basis points and the yield on the Treasury product at 3.55%. The euro strengthened further, rising to a one-year high of 1.114 against the dollar. On the energy front, the price of gas fell sharply on the Amsterdam market, with the methane futures for September delivery down 2.4% to 37 euros per megawatt hour, and oil is also down, down to 72 dollars per barrel. In this context, the best performing stock on Piazza Affari was Saipem, up 3.3% to 2.07 euros on the hypothesis of a new contract from Saudi Aramco. Ferrari also did very well (+2.5% with a final burst), with Recordati and Moncler up over two percentage points. Among the banks, Unicredit was weak (-0.2%), while the weakest group in the high-capitalization basket was Tim, down 0.7%, but still holding the 0.23 euro mark. (ANSA).
2024-08-22 06:17:30