
Stoxx 600 down 0.7%, Milan loses 1.3%. Gas prices are rising due to concerns about supplies
AI-generated summary
European stock markets are affected by the publication of quarterly reports and the international geopolitical tensions that influence energy markets.
Heavy start to the week for European stock markets with a focus on various quarterly reports and a context in Europe characterized by street protests in various countries, even with violent demonstrations.
The area index of the old continent, the Stoxx 600, leaves 0.7% on the ground with industrials and financials under pressure. Milan loses 1.3%. Among the worst performers are Stellantis (-3%), Fincantieri (-2.6%), Leonardo (-2.5%) and Unicredit (-2.2%).
Frankfurt lost 0.94%, Paris 1.2%, Madrid 1.38%.
Gas prices continue to rise with new attacks on tankers near the Strait of Hormuz, raising concerns about low storage levels and the fragile balance of winter supplies. TTF contracts rise by 1.45% to 88.8 euros per megawatt hour near the highest levels since December 2022. Oil is falling. The WTI loses 2% to 99.4 dollars. Brent fell by 2.6% below 107 dollars a barrel. The spread between BTPs and Bunds rises and approaches 110 basis points with the 10-year yield above 4.51%.
The euro confirms its decline against the dollar with the single currency trading at 1.1203 against the greenback.
At the Green Swan Conference 2026 in Manila, Bank of Italy governor Fabio Panetta highlighted that a large portion of natural catastrophe losses are uninsured. Climate damage in 2025 has doubled to $200 billion.

The public meeting with Marco Gay, Adolfo Urso, Emanuele Orsini and Stefano Lo Russo takes place today at the Industrial Union of Turin.

A declining start for the Milan Stock Exchange, with the Ftse Mib dropping 0.69% at the opening to 49,514 points, penalized by sales on Stellantis and banking stocks.

The Treasury launches two new 5-year government bonds: Btp Valore with increasing quarterly coupons (from 3.7% to 4.7%) and Btp Valore Insieme with a single final coupon of 22.25%. Both can be purchased separately or together, without commissions, with guaranteed repayment of capital and preferential taxation of 12.5%.

The clashes that occurred in the center of Milan caused damage amounting to over 500,000 euros between material destruction and lost income for commercial activities forced to close early.

The article analyzes the tax burden in Italy, showing how the provinces with higher incomes also pay more Irpef, with Milan in the lead in terms of average declared income (34,803 euros). It highlights that almost 43 million Italians pay Irpef, mainly employees and pensioners, and that the tax burden is expected to reach 43% in 2026, the highest in the last 10 years, despite some measures having reduced the burden on families by 33.3 billion. The increase in revenue is attributed to employment, contract renewals and regulatory choices such as the repeal of the ACE and the review of the extra profits of banks and insurance companies, which will pay an extra 5.6 billion to the treasury.