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A positive start that turns into a downward trend
European stock exchanges closed the day lower, reversing course after a promising start. The Ftse Mib in Piazza Affari fell 1.5%, closing at 33,940 points. This change of direction occurred despite positive expectations related to the companies’ quarterly reports, which have significantly influenced the market. While some stocks showed signs of growth, such as Tenaris and Diasorin, others suffered significant losses, particularly in the utilities and banking sectors
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Wall Street in strong growth
Unlike European stock exchanges, Wall Street saw a significant increase, driven by the victory of Donald Trump and the Republicans in the American presidential elections. Shares of major U.S. banks, such as JPMorgan and Goldman Sachs, have soared, reflecting investor optimism. Trump’s victory also had a positive impact on the dollar, which gained ground against other currencies, while commodities, especially precious metals, declined.
Focus on central bank decisions
With the focus on upcoming Federal Reserve and Bank of England meetings, investors are preparing for possible changes in interest rates. The Fed is expecting a new rate cut of 25 basis points, while the Bank of England could reduce the cost of money by 0.25%. These decisions could further influence the markets, in an environment already characterized by some volatility. In addition, the Btp-Bund spread widened to 132 basis points, with the Italian 10-year period rising to 3.71%.
Movements in the commodity and cryptocurrency market
The oil market showed signs of stability, with Brent trading around 75.6 dollars per barrel. However, gold fell to 2,670 dollars an ounce, while the euro/dollar exchange rate fell to 1.073. In contrast, cryptocurrencies set a new record, with Bitcoin exceeding 75 thousand dollars. This phenomenon highlights the growing interest of investors in digital currencies, in a context of global economic uncertainties
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Strategic agreement for Terna S.p.A.
In another significant news, Terna S.p.A. announced that it had signed an agreement with Areti S.p.A. to acquire 100% of Areti’s high-voltage infrastructure in Rome. This agreement represents an important step for Terna, which aims to strengthen its position in the energy market and to guarantee a more efficient and sustainable electricity grid. The transaction is seen as an opportunity to improve the quality of the service and to invest in modern infrastructure.
