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Stock Exchange: Europe continues in the red with Wall Street, gas rises

2022-08-29T15:10:35.359Z


Tension on government bonds. Spread Btp-Bund at 231 points, yield at 3.78%. Euro just above dollar parity (ANSA)


European stock exchanges continue in negative territory after Wall Street's downward start.

Markets are discounting Jerome Powell's words in Jackson Hole and the positions of the ECB hawks pushing for a sharp rate hike in September, while there is strong tension on government bond yields.

Meanwhile, the price of gas rises again after a pause recorded in the morning.

On the currency front, the euro returns slightly above the dollar parity at 1.001, with an increase of 0.48%.


The stoxx 600 area index fell 0.89%.

Session down for Paris (-1.1%), Frankfurt (-0.8%), Madrid (-0.9%), Milan (-0.5%), London closed for holidays.

The lists are weighed down by technology stocks (-2.1%).

Utilities are also bad (-1.4%), with gas rising to 285 euros per MWh in Amsterdam.

Weak banks (-0.3%) and energy (-0.1%), the latter with oil growing.

The WTI rises to 95.3 dollars per barrel (+ 2.3%) and Brent to 103 dollars (+ 2.1%).

Mps suffers in Piazza Affari (-3.3%).

Bad also A2a and Hera (-3.2%), Terna (-3%) and Italgas (-2.4%).

On Tenaris shields (+ 3.1%).

Banco Bpm (+ 2.7%) and Tim (+ 2.2%) are also showing off.

Tensions on government bonds continue while we look at the next moves by the ECB on the rate hike.

The spread between BTPs and Bunds stood at 231 basis points, with the Italian 10-year rate at 3.78% (+11 basis points).

The yields of government bonds of 'peripheral' countries also rose with that of Spain at 2.67% (+9 points) and that of Greece at 4% (+6 points).

Source: ansa

All life articles on 2022-08-29

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