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A positive start for European stock exchanges
Today, European stock exchanges recorded a positive day, supported by the upward opening of Wall Street, after the publication of encouraging data on inflation in the United States. At Piazza Affari, the Ftse Mib closed with an increase of 1.5%, reaching 35,646 points. This positive trend was also influenced by banks’ first quarterly results, which exceeded analysts’ expectations
.
Performance of the companies in evidence
Among the outstanding securities, Iveco Group saw an increase of 6%, thanks to a ‘buy’ promotion by Kepler Cheuvreux, with a target price increased from 11 to 11.5 euros. Prysmian also performed well, with an increase of 4.4%. However, Saipem fell by 4.9%, facing difficulties in building a wind farm off the northwestern coast of France
.
Analysis of inflation and impacts on the markets
Inflation in the United States accelerated to 2.9%, as expected by analysts, but the core CPI index registered a monthly growth of 0.2%, lower than expected, and surprised with an annual slowdown to 3.2%. This more moderate reading has reduced the chances of a rate hike by the Fed, prompting markets to consider a possible second cut later in the year. The report on British consumer prices also showed a decline of 2.5%, contributing to a climate of
greater optimism.
Impact on commodities and the bond market
Tensions in the bond market eased, with the US Treasury falling by about 12 basis points to 4.67%. The Btp/Bund spread contracted at 113 basis points, with the Italian 10-year period at 3.68% and the German benchmark at 2.55%. In the commodities sector, Brent oil exceeded 81 dollars per barrel, supported by the reduction of world surplus forecasts by the IEA and the decrease in US crude inventories for the
eighth consecutive week.
Cryptocurrency and Forex trends
In the cryptocurrency market, Bitcoin has recovered ground, reaching 99,000 dollars. On Forex, the euro/dollar exchange rate rose, fluctuating around 1.03, while the dollar/yen fell to 156.6. This scenario highlights a climate of confidence among investors, who are reacting positively to economic data and company performance
.
