European stock exchanges close lower
European stock exchanges closed negatively, reversing course after a promising start. The Ftse Mib in Piazza Affari ended the day down 1.5%, to 33,940 points. This decline occurred despite a positive start to the day, with investors starting to reflect on the companies’ quarterly reports and the general trend of the market
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Wall Street on the rise after the elections
Contrary to the European trend, Wall Street has seen a significant increase, driven by the victory of Donald Trump and the Republicans in the recent American presidential elections. This event has generated optimism among investors, who expect favorable policies for the market. Shares in companies such as Tenaris and Leonardo recorded significant gains, of 6.8% and 3.5% respectively, thanks to positive prospects in the oil & gas and defense sectors
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Focus on utilities and banks
Despite the earnings of some companies, the utilities and banking sector experienced a sharp decline. Unicredit fell by 5.3%, while Banco Bpm closed with -3%. Inwit and Campari also recorded significant losses, of 5.25% and 4.8% respectively. Investors are now closely monitoring the upcoming Fed and Bank of England meetings, where a possible interest rate cut is expected, which could further influence the market
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Trends in rates and raw materials
In the bond market, the Btp-Bund spread widened to 132 basis points, with the Italian 10-year yield rising to 3.71%, while the German benchmark fell to 2.39%. Trump’s victory also had an impact on the dollar, which gained ground, while commodities, in particular precious metals, fell. Gold, for example, has fallen to 2,670 dollars an ounce, while Brent oil stands at
75.6 dollars per barrel.
Movements on Forex and cryptocurrencies
In the currency market, the euro/dollar exchange rate declined, slipping to 1.073, while the dollar/yen reached 154.4. In contrast, cryptocurrencies have 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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Agreement between Terna and Areti
In another significant news, Terna S.p.A. has 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 sector and to improve the efficiency of the Italian electricity grid
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