European stock markets on the rise, BTP-Bund spread drops to 118 points and oil prices drop

The spread between BTPs and Bunds, after the initial burst of 126 points, drops to 118 basis points.

Yields also reversed course with the Italian 10-year bond falling by 3 basis points to 4.66%.

Oil prices continue to fall. Brent slipped to 99.2 dollars a barrel, recording a decline of 3%. The WTI loses 4% and falls below 90 dollars to 89 dollars a barrel. According to Bloomberg reports, the drop in crude oil prices is due to rumors according to which some European countries are discussing the release of strategic reserves to mitigate the surge in fuel prices.

European stock markets, after a cautious start, are consolidating with the bond storm seemingly over. The Old Continent area index, the Stoxx 600, rises by half a percentage point with purchases of technological and industrial stocks. The focus is on US employment data, the trend of which could impact expectations on the Fed's rate path. Financials and energy are weak. Oil confirms the decline with the WTI losing 2.75% to 90 dollars a barrel while Brent loses 1.9% to 100 dollars. The price of gas leaves 3% on the ground at 71.7 euros per megawatt hour. Government bond yields are also falling, the Italian 10-year bond is at 4.64%, the French Oat is below 4.9% and the German Bund is at 3.44%. The latter's spread with BTPs is at 120 points after a burst at the start of 126 basis points. Among the individual markets, Milan rose with the Ftse by 0.77%. Stellantis 8 +4.68%), Technoprobe (+4.23%), Prysmian (+4%), on the other hand, Unicredit (-0.47%), Bper (-0.41%), Fincantieri (-0.44%) are weak. As for the other markets, Paris gained 0.8%, Frankfurt 0.86%, London 0.52%, Madrid 0.53 percent. Finally, for exchange rates, the euro is growing against the dollar. The single currency changes hands at 1.1258 on the greenback.