Le European stock exchanges they close in contrast, also slowed down byWall Street's declining trend following the latest inflation data. In February, producer prices rose by 0,7% compared to January (expected 0,3%) and by 3,4% on an annual basis (expected 3%). Markets are primarily influenced by the volatility of the Petroleum and gasAttacks in the Middle East, attributed to US-Israeli raids on oil fields and infrastructure, have prompted Tehran to issue evacuation notices for some facilities in the Gulf, causing energy prices to rise. Brent crude rose above $108 after a low of $100,35, while WTI, which fell to $91,45, held above $96, while gas returned to above 54 euros per megawatt hour. slips just below 5.000 dollars an ounce (-2,5%);euro remains at $1,15.
Investors are also assessing the potential repercussions of the conflict in Iran on central banks: a prolongation of tensions could impact the economy and inflation, due to rising energy costs and price pressures. Eyes are on the Federal Reserve tonight and on ECB Thursday: Rates expected to remain unchanged, but comments on the impact of geopolitical crises are possible. On the macroeconomic front, the spotlight is on February inflation data in the euro area, confirmed at 1,9% year-on-year (up 0,6% month-on-month); core inflation at 0,8% monthly and 2,4% year-on-year.
In this context Milan dropped 0,33% to 44.741 points. Down London (-1,09%) And Frankfurt (-0,8%), little movement Paris (-0,1%), positive Madrid (+ 0,34%).
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A Business Square purchases are mainly concentrated on banks e luxury: featured Brunello Cucinelli, Moncler, Bpm bank e MediobancaThe banking risk remains at the centre, with Unicredit who is relaunching Commerzbank: "If the comparison is positive, we will be able to review the terms of the takeover bid", he declared CEO Orcel at the Morgan Stanley European ConferenceAmong the best titles also stands out LeonardoOn the other side, utilities remain under pressure, with Enel, Hera e Italgas among the worst, together with Stellantis.
On the bond front, it spread The spread between BTPs and Bunds has fallen to 74 basis points, down from 76 at the previous close. The yield on the 10-year Italian bond also fell, to 3,63%.
