Brent oil above $80 a barrel

The European stock markets turned negative after a slightly rising start, Milan -0.11%. The exception is London (+0.94%), also because inflation in the United Kingdom was lower than expected in November. There was also little movement on Wall Street at the start; yesterday the Dow Jones index again reached its all-time record. Today Dow Jones -0.09%, S&P500 +0.03%, Nasdaq +0.27%.

Focus on government bonds, also looking at the Ecofin Council on the Stability Pact. The yield on the 10-year BTP falls another 5 basis points to 3.60%, down from 70 basis points in December. The spread to the German federal bond is stable at 163 basis points, the yield of which has fallen to just under 2% for the first time this year.

Energy: Third day of rise for oil Brent exceeds $80 a barrel, also due to attacks by Houthi rebels in the Red Sea that are prompting more ships to choose alternative routes to the Suez Canal.

Telecom Italia stands out in Piazza Affari, +5%: today the board of the F2i fund gave the green light to invest in Tim’s network in consortium with the KKR fund. While the Spanish equivalent of Cassa Depositi e Prestiti entered Telefonica with 10%, it is a reaction to the group Saudi Telecom, which last September decided to purchase 4.9% of the capital with an option to acquire a further 5% announced.

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