Positive trend of European stock exchanges
The European stock exchanges opened the day with a positive trend, in particular the Ftse Mib in Piazza Affari, which registered an increase of 0.6%, reaching 33,500 points. Among the stocks in evidence, STM gained 1.7%, followed by Unipol and Prysmian, with 1.6% and 1.2% respectively. However, not all companies showed positive performance: Leonardo saw a decline of 0.6%
.
Focus on European economic data
In the morning, the focus is on European PMI indices, which will provide crucial indications for the European Central Bank (ECB) regarding the region’s economic growth. These data will be essential to assess the pace at which the ECB may decide to lower interest rates at upcoming meetings.
During the day, speeches are also scheduled by important representatives of the ECB, including Lagarde and Villeroy.
Economic situation in the United Kingdom and Germany
UK retail sales fell more than expected, falling by 0.7% in October. In addition, the final GDP of the third quarter in Germany was revised downwards, to +0.1%, compared to the initially estimated +0.2%. This data could influence future central bank decisions and investor confidence.
Nvidia’s American and Quarterly Markets
In the
United States, the focus is on PMI data and the University of Michigan consumer confidence index. Nvidia‘s quarterly report elicited mixed reactions in the markets, despite higher-than-estimated results and forecasts. However, the tech giant’s profits have helped to support the actions of chip manufacturers in Asia, highlighting the importance of the technology sector in the current economic environment
.
Bond and Commodity Market Analysis
In the bond sector, the Btp-Bund spread stands at 124 basis points, with the Italian 10-year period around 3.57% and the German benchmark at 2.33%.
As far as commodities are concerned, Brent oil reached 74.7 dollars per barrel, while gold fell back close to 2,700 dollars an ounce, in response to geopolitical tensions in Ukraine.
Trend of currencies and cryptocurrencies
In the currency market, the euro/dollar exchange rate remains just below 1.05, while the dollar/yen stands at 154.7. The Japanese yen is supported by inflation data, which exceeds 2%, suggesting possible rate increases. Finally, in the cryptocurrency world, Bitcoin continues to trade more than 99,000 dollars, approaching the record threshold of 100,000
dollars.