Today’s Stock Exchanges, June 29th. Positive EU price lists, spotlights on German inflation. Donohoe: “Alternative to ECB moves is poverty”
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MILAN – Departure under the sign of caution for the European price lists. After the three days of Sintra, the spotlight returns to the macroeconomic data. The data on German inflation and the new reading on the American GDP in the third quarter are expected during the day.
In Asia, fears about growth are still weighing on stock markets, which ended in mixed conditions. In Tokyo, the NIkkei ends trading at +0.12%
Donohoe: “Alternative to ECB moves is poverty”
“We are all aware of the consequences of the ECB’s decisions. These challenges must be weighed against the alternative. The alternative is that if inflation is not reduced in Europe, especially in the euro area, we will end up poorer. If if we fail to bring inflation back to the ECB’s medium-term target, the consequences this will have on living standards in the European Union will be felt in the coming years.
So I think measures are needed to avoid a scenario of this kind”. The president of the Eurogroup Paschal Donohoe told the EP.
Positive start for the European Stock Exchanges
The European Stock Exchanges positive after the position of central bankers on monetary policy to fight inflation. Investors’ attention is focused on the effects of rate hikes on global economic growth. Consumer price data from Germany and Spain are expected, while GDP and labor market data are expected from the USA. Start of the session up for Paris (+0.13%) while Frankfurt (+0.07%) and London (-0.01%) are on parity.
Spread at 166 points at the start
The spread between BTPs and German Bunds opens stable at 166 points. The yield on the ten-year Italian bond stands at 4%.
Gas, prices down at the start
The opening of the session fell for TTF gas futures for July traded at the Amsterdam hub, which fell by 33.70 euros per megawatt hour. In the first trades, the price recorded a decrease of 1.24%. Futures for August fell by 0.71% to 34.07 euros per megawatt hour and by 1.59% by 1.59% for September at 34.90 euros. The TTF (Title Transfer Facility) is a virtual market for the exchange of natural gas, based in the Netherlands; it is one of the main reference markets for gas trading.
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