Table of Contents:
Trend of European stock exchanges
The European stock exchanges closed the day in no particular order, with the Ftse Mib in Piazza Affari recording a decrease of 0.2%, closing at 34,472 points. Investors have kept a close eye on the companies’ quarterly reports, which have shown mixed results. In particular, Leonardo saw an increase of 3.7% thanks to a new agreement with GDHF for the supply of ten helicopters, while Ferrari fell by 7.1% despite the confirmation of guidance, due to a drop
in deliveries.
Focus on US elections and monetary policies
The day of the US presidential election attracted the attention of investors, with the spotlight on the Fed meeting that will conclude on Thursday. A possible cut in interest rates by 25 basis points is expected. The Bank of England will also meet on Thursday, with expectations of a 0.25% reduction in the cost of money. These decisions could have a significant impact on global financial markets.
Economic indicators and raw materials
On
the macroeconomic front, the ISM services index showed an increase beyond expectations, reaching 56 points, the highest level in the last two years. This figure suggests a recovery in economic activity in the United States.
On the bond market, the Btp-Bund spread fell to 125 basis points, with the Italian 10-year yield at 3.67% and that of the German benchmark at 2.42%.
Commodity and Forex trends
In the raw materials sector, Brent oil exceeded 76 dollars per barrel, supported by the delay in production increases by OPEC+ and by geopolitical tensions in the Middle East. Gold held steady at around 2,740 dollars an ounce.
In the currency market, the euro/dollar exchange rate returned above 1.09, while the dollar/yen fluctuated in the 152 area.
In summary, the day of the US presidential elections led to a cautious closure for European stock exchanges, with investors expecting significant developments both on the political and economic fronts.
