Piazza Affari is in a sales whirl, the worst is Telecom Italia’s Bper

The week begins in the negative territory of Avary Square which, like world markets, swallows up the latest OPEC + announcement on oil production, continues to reflect on the issue of inflation and sees growing concerns about the delta variable. In the first minutes of trading, sales flowed on the Milan Stock Exchange, as the Ftse Mib index fell 1.25% at 24,483 points, and continued its downward trajectory last Friday when the list ended at 24,792 points (- 0.33%). By observing the performance of individual stocks, there is no positive sign among the big names in the Ftse Mib, while the decline predominates. The worst is Bper, which posted a decline of about 3%, and also a broad-based decline for Telecom Italia (-3%) and Italgas which lost about 2.6%. Two big names in the oil sector also fell, such as Eni, which fell 1.6 percent and Saipem 1.4 percent. The latter announced the launch of SUISO, a technology solution for green hydrogen production. The trademark is filed with the European Union Intellectual Property Office. Going back to the session dates, after previous failed attempts, the production agreement reached by OPEC + has arrived. The prices reflect the oversupply, which will increase, according to the terms of the agreement, by 400,000 barrels per day starting from August until September 2022. All this in a context where fears of the development of the coronary fuel epidemic among operators warn. The increase in new cases of Covid-19 in many countries and new measures to stem the spread of the variable delta continue to worry investors, renewing concerns about the economic recovery. There are few macro indicators arriving today, with the only planned release of the US Nahb index measuring manufacturers’ confidence. At the corporate level, on the other hand, earnings season continues in the US, as IBM’s financial results in closed markets come under the lens.