A positive start for Piazza Affari
Today, Piazza Affari registered a positive start to trading, with the Ftse Mib index gaining about 0.7%, reaching 34,935.59 points. This momentum was largely driven by Saipem, which saw an increase of 3% after the publication of a better-than-expected quarterly report and a new guidance for 2024. Saipem’s performance was enthusiastically received by investors, who see it as a sign of recovery and stability in the
energy sector.
Quarterly reports and PMI indices: what to expect
The quarterly season is at the center of investor attention, with the accounts of Tesla, Renault and Saipem already published. Tomorrow, the results of Eni and Sanofi are expected, which could further influence market sentiment. In addition, investors are waiting for the PMI indices for the euro zone, scheduled for the month of October. These data are particularly expected, as the weak reading in September helped to justify the recent rate cut by the ECB. An improvement in PMI data could therefore support a more robust economic recovery.
Bond and commodity market trends
On the bond front, the Btp-Bund spread stands at 121 basis points, with the Italian 10-year yield down to 3.49%, while the German benchmark stands at 2.28%. This scenario reflects some stability in the government bond market, despite global economic uncertainties. In the commodity sector, Brent oil has exceeded 76 dollars per barrel, while gold continues its upward march, currently in the area of 2,748 dollars an ounce. These developments in commodity markets can influence investment decisions and business strategies, making it crucial to monitor global trends.