Positive inventory markets awaiting US inflation. Saipem and Moncler take off in Milan | EUROtoday

Get real time updates directly on you device, subscribe now.

(Il Sole 24 Ore Radiocor) – European inventory markets have been constructive within the final session of February. All eyes are on the informationUS PCE inflation, anticipated to rise by 0.3% after +0.2% in January, helpful for understanding the Fed's subsequent strikes within the space of ​​financial coverage. In France, in the meantime, inflation slowed to +2.9% year-on-year in February, from 3.1% in January. Prices are additionally slowing in Spain, going from 3.4% in January to 2.8% in February.

The FTSE MIB of Milan, the DAX 30 of Frankfurt and the FT-SE 100 of London are touring in constructive territory. The CAC 40 in Paris was weaker. Below parity, nonetheless, the AEX of Amsterdam and the IBEX 35 of Madrid.

Saipem and Moncler rally in Milan, Tim down

Saipem, which closed the fourth quarter higher than anticipated and expects a return to the dividend in 2025, and Moncler, which launched its outcomes on the eve of the markets closed, with rising earnings and revenues, stand out on the Piazza Affari. Poste Italiane can also be celebrating, closing 2023 with revenues rising by 5.4% to 12 billion and a file EBIT of two.62 billion (+9.4%). After an unsure begin to the session, Prysmian additionally rose: the corporate recorded a 7.5% improve in web revenue to 547 million in 2023 and a 1.1% drop in revenues. At the underside of the Telecom Italia listing, after the Milan prosecutor's workplace requested the seizure of 249 million euros as a part of the investigation into value-added companies, by which the corporate is not directly concerned

Stable unfold within the 143 level space

The unfold between BTp and Bund is steady, standing at round 143 foundation factors, consistent with the closing the day earlier than. The yield of the benchmark ten-year BTp fell barely to three.87%, from 3.89% on the closing the day earlier than.

Euro caught at 1.08 {dollars}, yen hovering

On the foreign money, the euro stays caught at 1.08 {dollars}, whereas the yen soared, after the speech of a member of the Bank of Japan, Hajime Takata, who estimated that the purpose of sustainable inflation round 2% “has finally come into view”. Goes on the value of oil is weak, after the higher-than-expected improve in US inventories with April Brent at round 83 {dollars} a barrel and the WTI expiring at round 78 {dollars}. Gas is reducing European market traded in Amsterdam at round 25 euros per megawatt hour.