Table of Contents:
The growing European stock market
The European stock exchanges closed yesterday with a positive sign, highlighting a climate of optimism among investors. At Piazza Affari, the Ftse Mib recorded an increase of 0.2%, reaching 36,200 points.
Among the most popular stocks, Mediobanca shone with an increase of 7.7% after the announcement of a totalitarian public exchange offer by MPS, which saw a decrease of 6.9%.
Performance of luxury securities
The luxury sector showed signs of strength, with Campari up 5.4%, Iveco up 3.9% and Moncler gaining 3%. These results were supported by Burberry‘s higher-than-expected sales, which helped to strengthen confidence in the sector.
However, not all the news was positive: Saipem recorded a decrease of 2.9% and Telecom Italia saw a decrease of 1.8%.
Macroeconomic analysis and future forecasts
From a macroeconomic point of view, data on eurozone SMEs were published, which showed a return to growth after two months of contraction. In the United States, consumer sentiment declined in January, marking the first decline in six months. The forecasts indicate price growth at an annual rate of 3.2% over the next five to ten years, slightly higher than the 3% expected in December. In addition, sales of existing homes in the US showed an increase, while the composite PMI slowed down, mainly due to less robust growth in services
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The decisions of central banks and the development of raw materials
In Japan, the Bank of Japan raised interest rates to 0.5%, while consumer prices accelerated to 3.6% per year. The institute has revised its inflation forecasts upwards, highlighting that rising wages will help keep inflation stable at around 2%. For next week, the focus will be on the meetings of the Fed and the ECB, in addition to macroeconomic data on the GDP of the United States and the eurozone, the core US PCE, Chinese SMEs and German inflation
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Cryptocurrency and forex trends
In the commodities market, Brent oil stands at 78.3 dollars per barrel, heading for the first weekly decline of the year. Gold saw an increase, reaching 2,770 dollars an ounce. On the forex front, the euro fell above 1.05 against the dollar, while the dollar/yen stood at 155.7. Finally, among cryptocurrencies, Bitcoin has exceeded 106 thousand dollars.
