(ANSA) - MILAN, NOVEMBER 18 - European stock markets are in tone mid-session with the Euro Stoxx 50 index rising by 1.4%, after reaching a maximum of 1.6% which pushed it into a market phase' bull', thanks to a 20% rebound from the lows of the year.
It is the second major European index to enter a bullish phase, after yesterday it was the turn of the Frankfurt Dax.
Paris and Frankfurt rose by 1.3%, Milan by 1.1% and London by 0.9%, in an eighth period which saw the price lists move little after four positive weeks in the wake of a quarterly season better than expected and the slowdown in US inflation.
Market sentiment is helped by expectations for a slowdown in the ECB's monetary tightening, with a rate hike limited to 0.5% in December, and optimism about a reopening of the Chinese economy.
Futures on Wall Street were also positive, after investors digested the aggressive messages of Fed member James Bullard.
The confirmation by the president Christine Lagarde of the fact that the ECB's balance sheet will have to be reduced and that rates will still rise has not shaken the stock exchanges, causing only slight adjustments to sovereign bonds, whose yields rise in Europe by about three basis points, with that of the BTP which falls below 4%, at 3.94, while the spread with the Bund remains stable at 190 basis points.
Oil is still weak, with wt falling by 1% to 80.85 dollars a barrel and brent by 1.2% to 88.7 dollars, as is gas with ttf futures falling by 2.3% in Amsterdam at 110 euros per megawatt hour, thanks to the still mild climate and abundant supplies in Europe.
In Piazza Affari, Cnh (+3.3%), Pirelli (+2.4%), Tenaris (+1.9%), Iveco (+1.9%), Nexi (+1.7%) stand out ) and Fineco (+1.6%) Saipem (+1%).
The banks were positive after the data on repayments of Tltro III loans to the ECB, led by the main basket, Banco Bpm (+1.4%) and Intesa (+1.3%).
The good momentum of Mps continues, rising by 2.4%, in the wake of a report by Deutsche Bank which sets the target price at three euros.
(HANDLE).