Table of Contents:
Wall Street opening: an uncertain start
The opening day for Wall Street showed a slight decline, influenced by the latest report on producer prices, which recorded an increase higher than expected. The November data show an increase of 0.4% compared to the previous month, while analysts expected a smaller increase, equal to 0.2%. This result has raised concerns among investors, who fear possible repercussions on
future monetary policies.
Analysis of producer price data
On an annual basis, producer prices showed an increase of 3%, the highest figure since February 2023, exceeding expectations set at 2.6%. These numbers indicate persistent inflationary pressure, which could influence the Federal Reserve’s interest rate decisions.
At the opening, the Dow Jones rose slightly by 15.46 points (+ 0.04%), while the S&P 500 and Nasdaq fell by 15.39 points (- 0.25%) and 90.54 points (- 0.45%), respectively.
The oil market and European stock exchanges
The price of WTI oil at Nymex declined slightly, losing 0.44% and falling to $69.98 per barrel. Even the European stock exchanges closed the day unmoved, waiting for further indications from the European Central Bank (ECB) and the statements of President Christine Lagarde. At Piazza Affari, the Ftse Mib ended with an increase of 0.4%, signaling some resilience despite global uncertainties
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The ECB’s forecasts and inflation
The ECB has recently updated its inflation forecasts for the coming years, paying particular attention to core and underlying inflation. The projections indicate progressive growth until 2027, with variations compared to previous estimates. This environment of rising inflation could influence monetary policies and investment decisions in the near future
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Amendments to the Pirelli Statute
In another significant piece of news, Pirelli’s shareholders’ meeting approved amendments to the Articles of Association, in response to recent regulatory interventions. The changes concern participation in the shareholders’ meeting through a designated representative and the certification of the sustainability report. These decisions were approved with a significant majority of the capital represented, highlighting the company’s commitment to transparency and sustainability
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