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Closing of European stock exchanges
European stock exchanges closed the session slightly higher, with the Ftse Mib in Piazza Affari recording an increase of 0.5%, reaching 33,414 points. Among the outstanding securities, Amplifon gained 2.3% and Stm 2.15%, while Telecom Italia fell by 1.5% after the sale of its stake in Inwit.
Mediobanca and Moncler also saw a decrease, of 1.2% and 0.8% respectively.
Inflation data and future expectations
Today, the eurozone inflation data was released, which showed an acceleration to 2.3% in November. The core consumer price index remained stable at 2.7%, slightly below analysts’ expectations. The European Central Bank (ECB) report revealed an increase in 12-month inflation expectations, bringing them to 2.5%. These data could influence the future decisions of the ECB, especially in view of the planned interventions of Christine Lagarde and
Jerome Powell.
Upcoming events to monitor
Next week promises to be crucial for the markets, with the US job report coming out on Friday. This report will be a key indicator for evaluating the health of the labor market in the United States. In addition, Chinese data on manufacturing activity, expected this weekend, could provide further insights on the state of the global economy. Not least, the final reading of eurozone GDP for the third quarter will be published on Friday, a figure that could influence growth expectations for next year
.
Trend in the bond and commodity markets
In the bond market, the Btp-Bund spread fell to 119 basis points, with the Italian 10-year yield at 3.28% and that of the German benchmark at 2.09%. On the raw materials front, Brent oil exceeded 73 dollars per barrel, pending the OPEC+ meeting scheduled for December 5.
Gold, meanwhile, is approaching 2,660 dollars an ounce, while the euro/dollar exchange rate stabilizes at 1.055.
Cryptocurrencies and Forex markets
In the cryptocurrency sector, Bitcoin has shown signs of recovery, rising to 98,000 dollars. This increase was supported by a climate of optimism among investors, despite global economic uncertainties. On the Forex market, the dollar/yen fell to 150.3, after the publication of inflation data in the Tokyo region, which could affect the Bank of Japan’s monetary policies
.
