Table of Contents:
Introduction to the performance of European stock exchanges
The European stock exchanges opened the day below parity, affected by the negative closure of Wall Street and a mixed session on the Asian price lists. In particular, the Ftse Mib in Piazza Affari fell by 0.5%, falling to 34,190 points.
Among the stocks in evidence, Generali Assurazioni gained 3.8% thanks to higher-than-expected results, while Interpump fell by 5.1%.
Analysis of macroeconomic data
A key element that has influenced market trends is represented by macroeconomic data from China. In October, industrial production increased by 5.3% year-on-year, although below estimates, while retail sales showed an increase of 4.8%, exceeding expectations. In addition, UK GDP grew by 0.1 percent in the third quarter, but showed a 0.1 percent decline in September, both lower than
expected.
Future prospects and central bank statements
Today, investors’ attention is focused on the European Commission‘s estimates, with additional data expected this afternoon regarding retail sales and industrial production in the United States. The Fed president recently emphasized the resilience of the US economy, suggesting a cautious approach regarding possible interest rate cuts. In addition, an intervention is planned by the chief economist of the ECB, Lane, who could provide further guidance on future monetary policies
.
Bond markets and commodities
In the bond market, the spread between BTP and the Bund widened to 122 basis points, with the Italian 10-year yield falling to 3.56% and that of the German benchmark to 2.34%. As far as commodities are concerned, the price of Brent oil has fallen to 71.5 dollars per barrel, while gold stands at 2,565 dollars an ounce. In the currency market, the euro/dollar exchange rate fell to 1.055, while the dollar/yen remains in the 155.7 area. Finally, Bitcoin fell, slipping to 87,500
dollars.
