European stock markets improved in the end, with US indices mixed. Madrid reduced the decline to 0.77%, London to 0.35%, Frankfurt to 0.28%, Paris to 0.19% and Milan was unchanged. The differential between ten-year German BTPs and Bunds fell to 155.3 points, with the Italian annual yield down 1.7 points to 3.78% and the German one by 0.3 points to 2.23%.
The dollar is on the rise, touching €0.92 and worth £0.79. Crude oil accentuated the decline (WTI -1.02% to $71.93 per barrel) and natural gas turned negative (-0.93% to 29.65 euros per MWh). Gold is confirmed to be down (-0.23% to $2,036 an ounce), while steel is positive (+0.7% to $3,911 a tonne).
Commerzbank (-4.15%) is under pressure among banks with the cut in the recommendation of JPMorgan analysts. Sabadell (-2.56%), Barclays (-1.86%), Standard Chartered (-2%) and BBVA (-1.24%) were also weak. In Piazza Affari, Mediobanca stands out (+1.91%), which launched Premier, which will take the place of CheBanca!. Purchases were also made on Mediolanum (+0.88%) and Unicredit (+0.84%). MPS (+0.19%) was more cautious, while Intesa (-0.26%) and Banco Bpm (-0.19%) were weak.
The luxury sector weighs heavily, held back by Hugo Boss' quarterly accounts (-10.29%) which disappointed analysts. Moncler (-1.5%) is also partly affected, while Cucinelli (-0.35%) is less affected.
Porsche (-2%), Volvo (-1.56%), Renault (-1.2%) and Stellantis (-1.1%) also showed a minus sign. Only Ferrari (+1.82%) bucked the trend.
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