The current context of European stock exchanges
The European stock exchanges closed the session lower, with the Ftse Mib in Piazza Affari recording a decrease of 0.48%, reaching 33,816.58 points. Among the titles in evidence, MPS gained 3.1% and Pirelli saw an increase of 2.8% after the publication of the quarterly results. On the contrary, Unipol fell by 6.1% as a result of unsatisfactory financial accounts
.
The Fed’s decisions and their repercussions
Yesterday, the Federal Reserve decided to lower interest rates by 25 basis points, as widely expected by analysts. The president of the Fed, Jerome Powell, has emphasized his intention to keep the institution out of political pressure, especially in view of the re-election of Donald Trump. Investors are now wondering about the future trade and investment policies that the new president of the United States could implement
.
Consumer confidence and macroeconomic data
A positive aspect is the increase in American consumer confidence, which reached 73 points in November, the highest level since April. This data was provided by the University of Michigan and suggests an improvement in economic expectations among US citizens. In Italy, however, the situation is more complex: industrial production fell by 0.4%, while retail sales increased by 1.2% on a monthly basis in September, indicating some resilience
in consumption.
Bond markets and commodities
In the bond market, yields are falling both in Europe and in the United States, with the Btp-Bund spread standing at 129 basis points. The Italian 10-year yield fell to 3.65%, while the German one stood at 2.36%. On the raw materials front, Brent oil fell to 73.6 dollars per barrel, influenced by disappointment with China’s new economic stimulus measures. Gold also lost value, falling to 2,685 dollars
an ounce.
Trend of currencies and cryptocurrencies
In the currency market, the euro/dollar exchange rate fell to 1.074, while the dollar/yen depreciated to 152.5. Among cryptocurrencies, Bitcoin showed signs of recovery, rising to the area of 76,380 dollars. These movements highlight a climate of uncertainty and expectation in the markets, with investors closely monitoring economic and political news
.