Table of Contents:
Closing of Piazza Affari
Yesterday saw a colorless close for Piazza Affari, with the Ftse Mib ending down 0.2%, reaching 33,427.72 points. Despite the negative sign, the session turned out to be moderately positive for European stock exchanges overall.
Among the outstanding securities, Banco Bpm registered an increase of 5.5% after the announcement of a voluntary public exchange offer of €10.1 billion launched by Unicredit, which saw a decrease of 4.4%.
Trend of the main securities
In addition to Banco Bpm, Stm also performed well, with an increase of 5.1%, followed by Erg and Campari, which gained 3.3% and 3.2% respectively.
In contrast, stocks such as MPS, Leonardo and Bper recorded significant declines, of 2.7%, 2% and 1.8% respectively.
Economic Indicators and Future Prospects
An element of concern is represented by the Ifo index on German business confidence, which showed a deterioration, falling to 85.7 points in November. Data from the United States, concerning the domestic activity of the Chicago Fed and the manufacturing sector of the Dallas Fed, were also below expectations. In the coming days, investors are looking forward to the minutes of the American central bank, the core PCE and the eurozone inflation data, which could further influence
the markets.
Bond markets and commodities
In the bond market, the 10-year Treasury yield fell by 10 basis points after the appointment of Scott Bessent as Secretary of the Treasury in the new Trump administration. The Btp-Bund spread stands at 125 basis points, with the Italian ten-year spread at 3.46% and the German benchmark at 2.21%. This scenario was influenced by the confirmation of Italy’s rating by Moody’s, which expects growth of less than 1% in 2024
.
Commodity and cryptocurrency trends
As far as commodities are concerned, Brent oil fell to 72.5 dollars per barrel, while gold fell to 2,631 dollars an ounce, following lower tensions in the Middle East. On the currency front, the euro/dollar exchange rate is getting closer to 1.05, while the dollar/yen stands at 154.4.
Finally, Bitcoin depreciated, reaching around 96,500 dollars.
