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Stock market: Europe down, tension on government bonds, Milan -1.3%

2022-08-29T11:27:55.286Z


The long wave of Jerome Powell's speech in Jackson Hole is holding back European financial markets, while tension on government bonds rises. (HANDLE)


August 29, 13:18

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Stock market: Europe down, tension on government bonds, Milan -1.3%

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(ANSA) - MILAN, AUGUST 29 - The long wave of JeromePowell's speech in Jackson Hole is holding back the European financial markets, while the tension on government bonds increases.

Last Friday the Fed chairman's reference to "strong action" to fight inflation had weighed on Western markets, to hit those of Asia and the Pacific today.

In Europe, where London is closed for holidays, Paris (-1.76%), Frankfurt (-1.34%), Madrid (-1.2%) and Milan (-1%) are giving up, which appears more cautious.

US futurers are down in the absence of relevant macroeconomic data.

Tension on government bond yields, with the differential between German BTPs and ten-year Bunds falling below 230 to 228.9 points and the Italian annual yield up by 10.6 points to 3.78%, while the German one increased by 11.5 points at 1.49% and the French one by 10,

6 points at 2.118%.

Crude oil continues to rise (Wti 0.7% to 93.73 dollars per barrel) and the decline in natural gas (-11.85% to 298.99 euros per MWh in Amsterdam), while the dollar, due to the aggressive rate policy announced by Powell, stabilizes at € 1.0036, still remaining above par.

Nordic semiconductor manufacturers (-5.54%) and ASM (-2.58%) weighed under pressure, while Stm limits the decline to 1.66%.

Weak Volvo (-1.8%), contrasted by Volkswagen (-0.4%) and the holding Porsche (+ 2.59%), in view of the listing of the homonymous sports car manufacturer.

The luxury sector weighs from Lvmh (-2.29%) to Kering (-2.57%) Moncler (-2.1%) and Hermes (-1.95%).

due to the aggressive rate policy announced by Powell, it stabilizes at € 1.0036, still remaining above par.

Nordic semiconductor manufacturers (-5.54%) and ASM (-2.58%) weighed under pressure, while Stm limits the decline to 1.66%.

Weak Volvo (-1.8%), contrasted by Volkswagen (-0.4%) and the holding Porsche (+ 2.59%), in view of the listing of the homonymous sports car manufacturer.

The luxury sector weighs from Lvmh (-2.29%) to Kering (-2.57%) Moncler (-2.1%) and Hermes (-1.95%).

due to the aggressive rate policy announced by Powell, it stabilizes at € 1.0036, still remaining above par.

Nordic semiconductor manufacturers (-5.54%) and ASM (-2.58%) weighed under pressure, while Stm limits the decline to 1.66%.

Weak Volvo (-1.8%), contrasted by Volkswagen (-0.4%) and the holding Porsche (+ 2.59%), in view of the listing of the homonymous sports car manufacturer.

The luxury sector weighs from Lvmh (-2.29%) to Kering (-2.57%) Moncler (-2.1%) and Hermes (-1.95%).

in view of the listing of the homonymous sports car manufacturer.

The luxury sector weighs from Lvmh (-2.29%) to Kering (-2.57%) Moncler (-2.1%) and Hermes (-1.95%).

in view of the listing of the homonymous sports car manufacturer.

The luxury sector weighs from Lvmh (-2.29%) to Kering (-2.57%) Moncler (-2.1%) and Hermes (-1.95%).


   The record cost of energy caused by the increase in gas brakes utilities Engie (-4%), Rwe (-1.95%), A2a (-3.17%), Enel (-1.85%) and Hera ( -1.8%).

TotalEnergies (-1.26%), Eni (-0.63%) and Shell (-0.69%) were weak.

In no particular order, Bnp (-1.3%), Bbva (-1.05%), Intesa (-0.23%), Bper (+ 0.47%), Unicredit (-0.41%) and Banco banks Bpm (+ 2.46%).

(HANDLE).


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