Table of Contents:
Current situation in Piazza Affari
Piazza Affari opened the week in negative territory, confirming itself as the worst among European stock exchanges. The Ftse Mib registered a decline of 0.5%, falling to about 33,240 points. Among the most affected stocks, Stellantis experienced a significant drop of 7.4% following the resignation of CEO Tavares. Italgas also saw a decrease of 1.9%, while Leonardo showed a slight growth of 1.1%, despite the context of
international tensions.
Economic factors at play
The market is reacting to a series of economic data from China, where the solid results of the Caixin PMI have reached a six-month high. Today, the SMEs of Italy and Spain are expected, together with data on Italian GDP, the unemployment rates of Italy and the eurozone and the ISM manufacturing index of the United States. These economic indicators are crucial for understanding the future direction of the markets and could influence investor decisions
.
Future prospects and events to follow
This week, the focus will be on the US job report, scheduled for Friday, which will provide further guidance on the health of the American economy. In addition, Lagarde and Powell‘s interventions on Wednesday could have a significant impact on the markets. On Friday, the final reading of eurozone GDP for the third quarter will also be published, a figure that could influence investor expectations
.
Bond markets and commodities
In the bond market, the Btp-Bund spread stands at 121 basis points, with the Italian 10-year yield at 3.28% and that of the German benchmark at 2.06%. As far as raw materials are concerned, Brent oil is trading at 72.4 dollars per barrel, pending the OPEC+ meeting scheduled for December 5. Gold, on the other hand, saw a decline, slipping to 2,630 dollars
an ounce.
Trend of currencies and cryptocurrencies
In the currency market, the euro/dollar exchange rate weakened further, reaching 1.050, with the single currency under pressure due to a potential collapse of the French government. The dollar/yen is in the 150.25 area. Finally, in the cryptocurrency sector, Bitcoin continues to decline, currently at 96,000 dollars
.
