Table of Contents:
Trend of European stock exchanges
Yesterday saw a mixed closing for European stock exchanges, with the Ftse Mib in Piazza Affari recording a decrease of 0.55%, closing at 34,559 points. Among the stocks in decline, Leonardo stand out, which lost 4.8%, Prysmian with a decrease of 4.2% and the Iveco Group, which closed at -3.3%. On the contrary, some stocks showed positive performance, such as Moncler, which gained 3.15%, and Tenaris and Banco Bpm, both up 2.2%.
The latter benefited from the interest of Credit Agricole, which increased its equity investment in response to Unicredit’s offer
.
Waiting for macroeconomic data
The week promises to be crucial for investors, with the focus on important macroeconomic events. On Wednesday, in fact, the report on US inflation will be published, expected to rise to 2.7%. This figure will be crucial in view of the Federal Reserve meeting scheduled for December 17-18. On Thursday, however, the meeting of the European Central Bank (ECB) will take place, which may decide to cut interest rates by 25 basis points. Investors are particularly interested in the tones of President Christine Lagarde and the updated projections on inflation and GDP
in the eurozone.
Monitoring the geopolitical situation
In a context of political instability, investors continue to monitor developments in South Korea, France and Syria. China’s recent decision to adopt a “moderately expansive” and “more proactive” monetary policy on the fiscal side has aroused interest.
On the bond front, the Btp-Bund spread stands at 107 basis points, with the Italian 10-year yield at 3.19% and that of the German benchmark at 2.12%.
Commodity and cryptocurrency trends
Commodity prices show an increase, with Brent oil rising to 72 dollars per barrel and gold approaching 2,670 dollars an ounce, in response to geopolitical risks in the Middle East. In the currency market, the euro/dollar exchange rate remains stable at 1.058, while the dollar/yen registered an increase to 151. In the cryptocurrency sector, Bitcoin remains below 100,000 dollars, currently in the 98,000 area, after recent records
.
Focus on Wall Street and acquisitions in the technology sector
At the opening of Wall Street, there was a slight decline, with Nvidia at the center of attention due to an antitrust investigation in China. Other semiconductor stocks, such as AMD and Lam Research, have also experienced a similar impact. The restrictive US chip policy towards China continues to add tension to the markets. In addition, the European Commission has approved the joint acquisition of Activ Software Holdings by Vista Equity Partners and Warburg Pincus, without concern for competition. Finally, Banco Desio completed the acquisition of 14 bank branches, strengthening its position in the market
.
