Table of Contents:
Performance by Piazza Affari
Today, Piazza Affari has stood out as one of the best European stock exchanges, with the Ftse Mib recording an increase of 1.6%, reaching 34,626 points. This increase was mainly supported by securities such as Unicredit, which saw an increase of 5%, and Bper, which gained 4.5%. Telecom Italia and Stellantis also showed positive performances, with +4.45% and +3.8% respectively. However, not all the news was positive, with Prysmian recording a 0.9% decline
.
Economic data and impacts on the markets
During the day, significant data were published regarding the German economy, with factory orders down 1.5% in October, a better result than expected. Retail sales in the eurozone showed a decrease of 0.5%, below expectations. In the United States, claims for unemployment benefits reached 224 thousand, exceeding analysts’ estimates. The president of the Fed, Jerome Powell, reaffirmed the strength of the US economy, suggesting a cautious approach regarding
possible interest rate cuts.
Bond position and commodities
In the bond market, the spread between BTP and the Bund fell to 108 basis points, with the Italian 10-year yield set at 3.19% and that of the German benchmark at 2.11%. In France, the political situation had no significant impact, with the differential between OAT and the Bund narrowing to 78 basis points, thanks to Marine Le Pen’s assurances regarding the approval of the budget law
.
Commodity and cryptocurrency trends
As far as raw materials are concerned, the price of Brent oil stabilized at 72.3 dollars per barrel, after OPEC+ decided to postpone the removal of production cuts for three months. The increase in production is now expected in April, but at a slower pace than originally planned. The price of gold also remained almost unchanged, standing at 2,641 dollars an ounce. In the currency market, the euro/dollar exchange rate rose to 1.057, while the dollar/yen
fluctuated around 150.
Future prospects and focus on investments
The main cryptocurrencies have seen an increase, with Bitcoin reaching 102,000 dollars, following the probable appointment of Paul Atkins as the new president of the US SEC. Investors are waiting for crucial economic data, with particular attention to the employment relationship. The trade deficit has shown signs of improvement, while the chances of a rate cut by the Fed appear to be diminishing. Claims for unemployment benefits in the United States increased higher than expected, indicating a changing labor market
.
