Table of Contents:
Current situation of European stock exchanges
Today, European markets show red markings, showing a general decline. At Piazza Affari, the Ftse Mib recorded a decrease of 0.8%, falling to 34,460 points. Among the most affected stocks, Eni fell sharply, losing 6.2% after a period of high volatility. This uncertainty scenario is amplified by external and internal factors that influence investor confidence
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Telecom Italia and market expectations
In contrast, Telecom Italia saw an increase in its share value, driven by rumors of a possible interest on the part of CVC in the purchase of the majority stake held by Vivendi.
This development has aroused investor interest, creating a climate of expectation and speculation surrounding the stock. The situation of Telecom Italia represents an example of how corporate news can influence market performance, even in a general downward context
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Expectations for the Fed meeting and macroeconomic data
Investors’ focus is currently on the Fed meeting, scheduled for tomorrow, where interest rates are expected to be cut by 25 basis points. This event is crucial, since the dot plot, the graph that shows the rate projections, will be updated, providing guidance on future monetary policies. In addition, today we expect data on US retail sales, a key indicator of consumption that represents more than two-thirds of American GDP. This data could influence Fed decisions and, as a result, global markets.
Analysis of economic data in Europe
In Europe, attention is also paid to the German Ifo and Zew indices, in addition to industrial production in the United States. In the United Kingdom, wage growth accelerated in the quarter ended in October, raising concerns for the Bank of England, which will meet on Thursday. The economic situation in Europe is complex and the decisions of central banks will be decisive for the future of the markets
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Trend in the bond and commodity markets
In the bond market, the Btp-Bund spread is around 116 basis points, with the Italian 10-year yield rising to 3.42% and that of the German benchmark to 2.26%. Commodities show a stable trend, with Brent oil remaining close to 74 dollars per barrel and gold remaining just above 2,650 dollars an ounce. These values are indicative of a market that seeks stability in a context of global uncertainties
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Situation on the currency market and cryptocurrencies
In the currency market, the euro/dollar exchange rate remains stable at around 1.05, while the dollar/yen stands at 154, with the Japanese currency showing signs of weakness pending the BoJ meeting on Thursday. Finally, in the cryptocurrency sector, Bitcoin is trading close to $107,000, highlighting a volatile and speculative market
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