European stocks rise on Wall Street after Fed chairman Jerome Powell yesterday announced a slowdown in the Fed's interest rate hike. Milan and Frankfurt up 0.5%, London up 0.2 % and Paris by 0.1% while yields on government bonds in the Eurozone fall, with BTPs (-8 points to 3.78%) pulling the sprint and reducing the spread with the Bund by a couple of points, at 191.
On the macroeconomic front, the Eurozone manufacturing PMI stopped at 47.1, just below the preliminary reading of 47.3, while gas continues to run, in the wake of falling temperatures and reduced inventories, with futures Amsterdam TTF up 7.6% to 157.5 euros per megawatt hour.
After a declining start, the price of oil also rose, with the wti just above 81 dollars a barrel (+0.7%) and the brent at 87.5 dollars (+0.6%), in the wake of the openings of the Chinese government for less stringent policies on Covid.
Powell's words weighed on the dollar, down 0.33% to 1.044 against the euro.
On European lists, semiconductor stocks (+3% the Stoxx index for the sector) lead to technology while banks and energy are down.
Stm (+3.4%) runs in Piazza Affari, Juve (+2.9%) and Tim (+2.6%) rebound while Buzzi (-2.1%), Tenaris (-2.1%) slip ) and Unicredit (-1.6%), which concluded the second tranche of the buy-back.
Mps surge (+5.5%) from today lightened by the cost of 4,125 employees.
