Table of Contents:
Closing of European stock exchanges in no particular order
The European stock exchanges closed the trading day in a mixed way, with the Ftse Mib in Piazza Affari recording a decrease of 0.2%, closing at 34,472 points. Investors have kept their attention high on corporate quarterly reports, in a context of uncertainties related to the US presidential elections
.
Performance of Italian companies
Among Italian companies, Leonardo‘s performance stands out, seeing an increase of 3.7% after announcing a new agreement with GDHF for the supply of 10 helicopters.
Investors are looking forward to the financial results that will be released on Thursday. On the contrary, Ferrari fell by 7.1%, despite the confirmation of forecasts, due to a drop in deliveries
.
Focus on elections and central bank decisions
The climate of uncertainty is accentuated by the vote in the United States and the Federal Reserve meeting, which will end on Thursday, with expectations of a possible cut in interest rates by 25 basis points.
The Bank of England will also meet on Thursday, with forecasts of a reduction in the cost of money by 0.25%.
Macroeconomic indicators and bond markets
On
the macroeconomic front, the ISM services index showed an increase beyond expectations, reaching 56 points, the highest level in the last two years.
On the bond market, the Btp-Bund spread fell to 125 basis points, with the Italian 10-year yield set at 3.67% and that of the German benchmark at 2.42%.
Commodity and Forex trends
In the commodity market, Brent oil exceeded 76 dollars per barrel, supported by the postponement of production increases by OPEC+ and the wait for the outcome of the presidential elections. Tensions in the Middle East continue to affect the market. Gold remains around 2,740 dollars an ounce
.
Finally, in the currency market, the euro/dollar exchange rate has returned above 1.09, while the dollar/yen fluctuates in the 152 area.
