Table of Contents:
The rise of 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 positive trend was driven by significant stocks such as Unicredit, which saw an increase of 5%, and Bper, with +4.5%. Telecom Italia (+4.45%) and Stellantis (+3.8%) also contributed to this momentum. However, not all the news was positive, with Prysmian seeing a decline of 0.9%
.
Economic data in evidence
During the day, significant economic data was published that influenced investor decisions. Factory orders in Germany showed a less marked decline than expected for the month of October, reaching -1.5%. Retail sales in the eurozone fell by 0.5%, below expectations. In the United States, claims for unemployment benefits increased to 224 thousand, exceeding estimates. This data has fueled speculation about future Federal Reserve interventions
.
The Federal Reserve’s statements
The president of the Fed, Jerome Powell, reaffirmed the resilience of the US economy, stressing the need for a cautious approach regarding potential rate cuts. Analysts continue to bet on a possible reduction of 25 basis points in December, pending the labor market data that will be published tomorrow. This context has led to a reduction in the spread between BTP and the Bund, which now stands at 108 basis points, with the Italian 10-year yield at 3.19% and the German yield at 2.11%
.
Commodities and Forex
In the raw materials sector, Brent oil remains stable at 72.3 dollars per barrel, after the decision of OPEC+ to postpone the removal of production cuts for three months. This delay led to an increase in production expected in April, but at a slower pace than originally planned. Gold also showed little volatility, trading 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.
Cryptocurrencies on the rise
Finally, the cryptocurrency market has seen an increase in purchases, with Bitcoin reaching 102,000 dollars, in part thanks to the probable appointment of Paul Atkins as president of the US SEC. This news has sparked optimism among investors, contributing to a climate of confidence
in the sector.
