Today’s slip to Avary Square thanks to the growing tensions between the West and Russia. Indeed, fears of a Russian invasion of Ukraine are growing as Russian-backed rebels and Ukrainian forces shoot each other along the border in what Western officials have described as a possible pretext Moscow has created for the invasion.

US President Joe Biden said the risk of invasion was “extremely high”. On the other hand, Russia has expelled US Deputy Ambassador Bartel Gorman.

On the central bank front, the minutes of the Federal Reserve’s meeting last night indicated that inflation no longer affects only the sectors affected by the epidemic, and the US central bank considers it appropriate to significantly reduce balance sheets with some members of the board of directors in favor of ending quantitative easing soon.

Ftse Mib scored -1.11% at the end of the day to 26,669 points.

The -2.83% of Tenaris in Milan stands out today thanks to the drop in oil prices that masked the initial leadership effect given to the stock by the better-than-expected quarterly figures. The group ended the fourth quarter of 2021 with a net profit of $336 million compared to $110 million for the same period in 2020 and revenue that grew 82% to about 2.06 billion compared to 1.13 billion a year ago (+17% quarter). / R). The results were better than the Bloomberg consensus, which indicated a sales volume of $2 billion and profits of 272.8 million.

Saipem is also bad (-2.76%) with the latest rumors reported by Bloomberg that the oil services company is working to raise capital by 1.5/2 billion euros and renegotiate debts for about 1 billion. Saipem, which will present the new plan within a month, could offer its drilling activities for sale with the potential to raise around 1 billion.

Banks confirm weakness highlighted last night with UniCredit slipping again around 2.7%; -1.86% for Intesa Sanpaolo and -3.98% for Bper. Among the declining insurers, Generali (-1.82%) with President Gabriele Galateri di Genola announcing that he will not be a candidate for the next board renewal.

Finally, Stellantis was also affected by sales (-1.86%) which in January showed a 12.4% drop in brand registrations for its group in Europe. Moncler stock fell (-0.43%) thanks to accounts that exceeded expectations published by the French giant Kering.