The current context of European stock exchanges
The European stock exchanges experienced a session characterized by some stability, with the Ftse Mib in Piazza Affari closing slightly higher, marking +0.2% at 34,776 points.
This increase was mainly supported by stocks such as Iveco Group, which registered an increase of 3.2%, and by stocks in the oil & gas sector such as Saipem (+ 2.5%), Tenaris (+ 1.9%) and Eni (+ 1.7%).
Economic Indicators and Consumer Confidence
An interesting aspect is represented by the German Ifo index, which reported an improvement in business expectations. In addition, American consumer confidence has reached a six-month high, thanks to the expectation of a reduction in rates by the Fed and other central banks. However, orders for durable goods in the United States showed a decline of 0.8% in September, a better figure than the -1% expected
by analysts.
Future prospects and monitoring of economic data
Investors are preparing for a series of significant events, including the US presidential elections on November 5 and the release of crucial data such as the labor market and the core PCE in the United States, in addition to inflation and the eurozone’s GDP. In the bond sector, the Btp-Bund spread stands at 121 basis points, with the Italian 10-year spread at 3.5% and the German benchmark at 2.29%. This scenario suggests some caution, but also opportunities for investors.
Commodities and exchange rates
In the commodities market, Brent oil saw an increase, rising to 75.4 dollars per barrel, while gold recovered in value, returning to 2,740 dollars an ounce. On the currency front, the euro/dollar exchange rate stands at 1.082, while the dollar/yen remains stable around the threshold of 152 yen per dollar. These movements indicate some volatility, but also opportunities for investors who know how to navigate this environment
.