Piazza Affari in red despite Powell

In spite of the reassurances coming from Federal Reserve No. 1 Jerome Powell, who in the course of a hearing reiterated that he considers inflation transitory and that therefore the rate policy is not destined to change, European stock exchanges have ended sitting in red. In particular, our Ftse Mib stopped at 25,077.14 points, -0.94% compared to the previous figure. Among the worst performances we find Atlantia (-2.59%), despite the S&P agency revising the rating to “BB” from “BB-” with an outlook that passes from “developing” to “positive”, Hera (- 1.89%) and Enel (-1.69%). In the banking sector, Banco BPM shares closed with a -0.28% after the announcement of a securitization transaction of a portfolio of non-performing loans worth € 1.5 billion. Industrials weak: Pirelli scored a – 1.41%, CNH Industrial a -1.75%, Stellantiis a -0.2% and Prysmian a -0.13%. The increase in guidance from the French Pernod Ricard allowed Campari to close the session with a + 0.45%. A positive day also for Autogrill (+ 3.7%), in the midst of the capital increase, and + 26.08% for Enertronica in the wake of a new order. On the government bond front, the BTP-Bund spread increased by over one percentage point to 112 basis points. (in collaboration with money.it).