Ftse Mib in red, spread raises its head

Day of generalized sales in Europe in the wake of the setting of the new inflation target by the European Central Bank. As expected, today the institute led by Christine Lagarde has gone from a figure “below but close to 2%” to a “symmetrical 2%”, with upward and downward deviations considered “undesirable”. This is an accommodative turnaround, given that in 2023 the trend in consumer prices is currently estimated at 1.4%. Central Bank also protagonist on the other side of the Atlantic, where the minutes of the last meeting of the Federal Reserve revealed that the beginning of the process of withdrawing emergency purchases is not far off. With all the stocks that make it up in the red, the Ftse Mib finished at 24,554.84 points, -2.89% compared to the previous figure. Particularly negative performances were recorded by the combination formed by CNH Industrial and Stellantis, which fell by 3.22 and 3.35 percent respectively. The latter indicated that, despite the lower volumes, the adjusted operating margin of the first six months is seen above the range of 5.5% -7.5% indicated for the whole year. Carlos Tavares, on the occasion of the group’s EV day, announced that the company created by PSA and FCA will build the third European gigafactory in Termoli, Molise, to meet its needs for batteries and components. Less than 1.15% for Webuild which was awarded, in a joint venture with the French company Vinci, a 1.4 billion euro contract. Deep red also for banks (-3.17% of UniCredit, -3.25% of BPER, -3.59% for Banco BPM and -2.93% of Intesa Sanpaolo) and for utilities (-3.89 % of A2A, -3.18% of Hera and -2.24% of Enel). The Competition and Market Authority has initiated an investigation regarding some clauses of the agreement between TIM and DAZN for the distribution and technological support relating to the contents of Packages 1 and 3 of the rights for viewing the matches of the Italian Championship. Serie A football in the three-year period 2021-2024. Telecom Italia shares ended with -4%. The climate of generalized risk aversion spilled over into the spread, which rose by almost four percentage points to 111 basis points. (In collaboration with money.it).