Current situation of European stock exchanges
The European stock exchanges recorded a negative session, with the Ftse Mib in Piazza Affari closing down 0.48%, reaching 33,816.58 points. Among the titles in evidence, MPS gained 3.1% and Pirelli 2.8% after the publication of the quarterly results. On the contrary, Unipol experienced a significant drop of 6.1% due to disappointing accounts
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The Fed’s decisions and their repercussions
Yesterday, the Federal Reserve decided to lower interest rates by 25 basis points, as expected by analysts. The president of the Fed, Jerome Powell, stressed his willingness to protect the institution from political pressure, especially in view of the re-election of Donald Trump. Investors are now closely monitoring the future trade policies and investments that the new president of the United States may adopt
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Economic indicators and industrial production in Italy
On the
macroeconomic front, data from the University of Michigan have been published, which show an increase in American consumer confidence, now at 73 points, the highest level since April. In Italy, the situation is more complex: industrial production fell by 0.4%, while retail sales showed an increase of 1.2% on a monthly basis in September. These data suggest a certain fragility in the Italian economy, despite positive signs from the consumer sector
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Bond markets and commodities
In the bond market, yields are falling both in Europe and in the United States, with the Btp-Bund spread standing at 129 basis points. The Italian 10-year yield fell to 3.65%, while the German benchmark stands at 2.36%. As far as raw materials are concerned, the price of Brent oil slipped to 73.6 dollars per barrel, influenced by disappointments regarding China’s economic stimulus measures. The price of gold also declined, falling to 2,685 dollars an
ounce.
Trend of currencies and cryptocurrencies
In the currency market, the euro/dollar exchange rate fell to 1.074, while the dollar/yen depreciated to 152.5. Among cryptocurrencies, Bitcoin showed signs of recovery, rising to the area of 76,380 dollars. These movements highlight the instability and opportunities that currently characterize the financial markets
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