Milan stock exchange wipes out its gains, spread moves toward 128 points

The Milan stock exchange wipes out its gains. Mid-session, the Ftse Mib slips to -0.03% at 50,217 points. Weighing on the index are sales in banking stocks, with Unicredit dropping 2.25%, Bper 1.9%, and Banco Bpm 1.3%. Among other stocks, Fincantieri (-1.78%) and Saipem (-1.3%) are also down with the decline in oil. Instead, Stellantis (+4.55%) and Technoprobe (+4.35%) remain well bought. The spread between Btp and Bund approaches 128 points, at highs not seen since April 2025. The decline in oil continues. Brent slips to $99.2 per barrel, recording a 3% drop. Wti loses 4% and falls below the $90 mark, to $89 per barrel. According to Bloomberg, the drop in crude is due to reports that some European countries are discussing releasing strategic reserves to ease the surge in fuel prices. European stock exchanges, after a cautious start, consolidate as the storm on bonds seems to have subsided. The Old Continent's area index, the Stoxx 600, rises half a percentage point with buying in technology and industrial stocks. The focus is on the US employment data, whose trend could affect expectations about the Fed's rate path. Financials and energy are weak. Oil confirms its decline, with Wti down 2.75% at $90 per barrel while Brent loses 1.9% at $100. The price of gas drops 3% to €71.7 per megawatt-hour. Government bond yields are also falling: the Italian ten-year is at 4.64%, the French Oat is below 4.9%, and the German Bund is at 3.44%. The spread between the latter and Btps hovers at 120 points after a flare-up at the start to 126 basis points. Among individual exchanges, Milan rises with the Ftse up 0.77%. Stellantis (+4.68%), Technoprobe (+4.23%), and Prysmian (+4%) strengthen. On the opposite side, Unicredit (-0.47%), Bper (-0.41%), and Fincantieri (-0.44%) are weak. As for the other markets, Paris gains 0.8%, Frankfurt 0.86%, London 0.52%, Madrid 0.53%. Finally, for currencies, the euro rises against the dollar. The single currency changes hands at 1.1258 against the greenback. Reproduction reserved © Copyright ANSA