Avary Piazza closes down markedly. The Ftse Mib Index lost 1.16% to 20,961 points.
European bourses are moving cautiously higher, despite a positive start to Wall Street, as recession fears and pressure on interest rates by central banks slow stock markets and drive yields on government bonds. Alternatively, Frankfurt (+0.33%) and Paris (+0.33%) held out while London fluctuated around parity and the Pound attempted to recoup losses overnight. Nixie race, following plan, and Tim (both +4.2%) on expectations for the grid with the new centre-right government backing the Milan list.
Uncertainty about the composition of the next Executive with the Budget Law and Commitments Law test on Pnrr keeps the BTP Bund spread at 246.5 points in particular the tension, at 2013 levels, with the Italian ten-year yield at 4 and 6% and the 5-year term higher than that of Greece (4% vs. 3.96% of Athens bonds). Investors are also concerned about higher gas prices after 4 days of declines in Amsterdam (+5.2% to €182 per megawatt-hour) due to damage to Nord Stream gas pipelines, raising concerns about a halt in supplies from Russia to Europe for the coming winter. .
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