Piazza Affari continues to rise, oil and technological assets

The rise in US prices, after the unexpected slowdown in July inflation announced yesterday, is still doing well in Piazza Affari, Europe’s pink jersey. Although the Fed will continue with the tightening on rates, the Ftse Mib closed a day without jolts with a progress of 0.69%, at 22,858.18 points. The spread between German BTPs and Bunds, therefore, remains stable at around 205 basis points. In evidence Tim (+ 3.33%), with investors confident with respect to the prospects of the single network. The rise in the price of oil and gas made oil gains, with Tenaris registering an increase of 2.45%, Saipem of 1.89% and Eni of 1.45%. Technologicals are also positive, in particular Stm (+ 1.04%), in the wake of the excellent results of semiconductor manufacturers in the rest of the world, starting from the USA. In the spotlight, then, the banks, with Banco Bpm rising by 1.80%, after Consob announced the aggregate participation of Jp Morgan Chase of 5.12% in the bank’s capital. Intesa Sanpaolo follows (+ 0.40%), while Unicredit loses 0.14% and B for 1.35%, after the rally of the last two sessions. According to the analyst of Citi Azzurra Guelfi, “Italian banks have shown in the second quarter an EBITDA stronger than previously expected and the increase in rates should continue to offset the risk linked to credit quality on the trend in earnings per share ”. However, the upcoming elections on 25 September “could generate volatility”. At the bottom of the Milan list, in addition to Bper, there are Interpump (-1.32%), Campari (-0.79%), Italgas and (-0.63%). (in collaboration with Money.it)