Stock market: Milan and Frankfurt slip, Europe uncertain. The spread drops

Very nervous session for the stock markets of the Old Continent: after Milan (FTSE MIB -1.3%), the worst stock exchange was that of Frankfurt, which closed with a decline of 1.2%. The indices of Madrid (-1%), Paris (-0.5%) and London (-0.2%) were weak, while the Amsterdam stock exchange rose by 0.3%.

Speculation, however, has eased in the government bond sector: the spread between BTPs and 10-year German Bunds has fallen to 111 basis points compared to 115 at the start, with a yield on the Treasury product at 4.6%.

In the energy sector, oil continued its run, rising by 3% to 91 dollars a barrel after the close of the European stock markets. The price of gas is also growing: on the Amsterdam market, the reference point for Europe, the methane future for delivery in November marks an increase of 1.8% to 79.5 euros per Megawatt hour.

In this context in Piazza Affari, among the main stocks, weak STM (-3.7%), Tim (-3.6%) and Unicredit, which fell by three percentage points. In the financial sector, Intesa (-2.9%), Mps (-2.8%) and Unipol also fell, down 2.6%.

In the wake of crude oil, Tenaris did well (+1.3%) and above all Eni, which rose by 2.6%.