The Ftse Mib closed the session at 33,174.42 points, recording a drop of 0.12% at the end of a volatile day. Among the highlighted stocks on the Milan stock exchange, Unipol stands out, with a gain of 1.95%, followed by Saipem (+1.7%), Italgas (+1.5%) and Campari (+1.1%). On the other hand, among the blue chips, the declines of Mediobanca (-1.6%), Amplifon (-1.55%), Nexi (-1.2%) and Diasorin (-1%)The BTP/Bund spread stands at 142 points.
Unicredit closed the day at 36.155 euros per share (+0.22%), after having reached a maximum of 37.26 euros in the morning, thanks to the news of the purchase of 9% of Commerzbank for approximately 1.5 billion euros.
On the commodity front, oil prices are rising after the US inventories data. Brent is at $70.4 per barrel (+2%), while WTI is up more than 2%, trading at around $67 per barrel.
Inflation down in the US
Despite the long-awaited data on theAmerican inflation, Markets were not clear on direction, with indices changing course several times. The consumer price data, crucial to understanding the size of the next Fed rate cut, did not provide any clear indications.
On an annual basis, inflation fell from 2.9% to 2.5%slightly below the 2.6% estimate. On a monthly basis, the increase was 0.2%, in line with expectations and the previous month. The 2.5% annual increase is the lowest since February 2021. However, the “core” figure, which excludes food and energy prices, rose 0.3%, beating the 0.2% forecast. This strengthens the case that the Fed may opt for a smaller rate cut of just 25 basis points at next week’s meeting.
Stock Markets 12:00 PM: Piazza Affari opens positively on the eve of the ECB meeting
European stock markets are showing mixed results on the eve of the ECB meeting. Frankfurt is up 0.14%, while Paris is up 0.10%. On the contrary, Milan is down 0.17%, falling to 33,157 points, with Banco Bpm, Mediobanca and Amplifon under pressure. Unicredit is also down, marking -0.44% despite this morning’s rise. The Ftse100, on the other hand, is slightly up, with a +0.13% at 11:50.
Saipem continues to do well, with an increase of 2.20% bringing the value to 1.8365 euros. Italgas follows, growing by 1.75% to 5.23 euros, and Unipol, which gains 1.46% reaching 9.365 euros. The biggest declines of the day see Mediobanca down by 2.08%, with the stock falling to 14.62 euros. Banco Bpm follows with a loss of 1.37%, settling at 5.754 euros, while Amplifon records a decline of 1.26%, with the value of the shares at 27.45 euros.
Stock Markets 9am: Good Piazza Affari
The European stock exchanges open slightly higher, ahead of August’s US inflation data. Analysts expect the main component to decline from 2.9% in July to 2.6% on an annual basis, while the core component is expected to remain unchanged. This could influence expectations for future interest rate movements, with investors anticipating a reduction of 25 basis points at the Fed meeting on September 18.
Slight increase for Piazza Affari which follows the trend of the main European stock exchanges. Frankfurt shows moderate progress of the 0.45%, While London negotiate with an increase of 0.1%. Paris advances of the 0.38%, but without any particular enthusiasm. Milan is growing by 0.49%.
Stocks on the rise: Unicredit, Tim and Eni doing well
On the Milanese price list, Unicredit earn the1.90% at 36.76 euros after acquiring a 9% stake in Commerzbank, with plans to raise above 9.9%. 4.49% was purchased through an accelerated bookbuilding offering on behalf of the German government, while the remainder was purchased on the market.
The day’s biggest gainers include Saipem, which has seen an increase in 2.25%reaching 1.8375 euros. The following Iveco Group, with an increase of 2.22% at 8.752 euros, and Stmicroelectronics, which rose 1.97% to 25.675 euros. Interpump Group also performed well, rising 1.48% to 38.52 euros. Prysmian rose 1.45% to 61.46 euros, and Tenaris gained 1.22% to 12.88 euros. Luxury is good so far: Brunello Cucinelli is up 1.39% to 84.00 euros, while Moncler is up 1.36% to 50.66 euros.
Looking at the downsides, General it went down1.20% at 24.68 euros. Enel also performed badly, with a decrease of 1.13%, with the value of its shares falling to 7.002 euros. Bpm Bank it is backward of the1.06%, with a price of 5,772 euros, while Mediobanca he lost the 0.94%, reaching 14.79 euros. Recordati Ord recorded a decrease of 0.87%, with the stock at 51.00 euros. Ferrari fell by 0.66%, with the value of the shares at 421.90 euros, and Snam saw a decline of the same amount, reaching 4.548 euros. Terna fell by 0.52%, with a price of 8.066 euros, while Hera recorded a decrease of 0.50%, reaching 3.554 euros. Finally, Amplifon fell by 0.43%, with the stock at 27.68 euros.
Spread at 145 points
On the eve of the ECB meeting, expected for a possible interest rate cut of 25 basis points, the BTP/Bund spread has started again from 145.10 basis points. Yields on one-year Treasury bills are expected to decline slightly at today’s auction. The rate on the September 12, 2025 Treasury bill closed yesterday, September 10, at just under 3%, compared with 3.112% in mid-August, according to Reuters. If confirmed, this rate could mark the lowest since January 2023.
The Treasury, which successfully launched a new 30-year BTP for 8 billion euros on September 10, has recorded record orders for 130 billion euros. Today, it is offering investors 7.5 billion euros. Germany is also active on the primary market, with the issue of 4.5 billion Bunds maturing on August 15, 2034 and a coupon of 2.60%.
