Table of Contents:
Rise of European stock exchanges
Today saw a positive trend for European stock exchanges, with Piazza Affari recording an increase of 1.0%, bringing the Ftse Mib to 33,829 points. This increase was mainly supported by purchases of securities such as the Banca Popolare di Sondrio, which saw a 7% jump thanks to the update of the target price by Jefferies, which brought it from
6.6 to 8.0 euros.
Securities performance
In addition to Banca Popolare di Sondrio, Saipem and Prysmian also performed well, with an increase of 2.8% and 2.1% respectively. However, not all the news was positive: Nexi fell by 3.8%, while Italgas registered a decline of 1.6%. Azimut also saw a decrease of 1.6% after the downgrade of Deutsche Bank, which reduced the target price from 30.16
to 27.8 euros.
Macroeconomic data and future prospects
The day was characterized by a scarcity of macroeconomic ideas, with the only significant figure concerning job offers in the United States, which increased more than expected, reaching 7.744 million in the month of October. This increase in vacancies suggests a slowdown in the demand for workers, pending the November job report, scheduled for Friday. This report will be crucial in defining the Federal Reserve‘s future monetary policy moves
.
Interventions by central banks
In addition, the attention of investors is focused on the speeches by Jerome Powell and Christine Lagarde, scheduled for tomorrow. On bonds, the Btp-Bund spread fell to 119 basis points, with the Italian 10-year yield set at 3.25% and that of the German benchmark at 2.06%
.
Commodity and Forex trends
In the commodities market, Brent oil saw an increase, reaching 73.3 dollars per barrel, pending the OPEC+ meeting on December 5. Gold, on the other hand, remains stable at 2,643 dollars an ounce. In the currency market, the euro/dollar exchange rate is just above 1.05, while the dollar/yen is at 149.5. The South Korean won reduced losses after the announcement of measures to stabilize the financial market
.
Cryptocurrencies and closing of the day
Finally, in the cryptocurrency sector, Bitcoin is trading at 95,700 dollars. The new composition of the European index will be active from next December 23, while Wall Street opened without major changes, with attention paid to central banks and incoming macroeconomic data
.
