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An encouraging start for European markets
The European stock exchanges opened the day with a positive sign, in particular the Ftse Mib in Piazza Affari, which registered an increase of 0.7%, reaching 34,180 points. This momentum was mainly fueled by strong interest in Banco Bpm, which saw an increase of 7.5% after the publication of financial results and the announcement of a takeover bid on Anima at 6.2 euros per share.
Bper also benefited from this wave of purchases, with an increase of 2.5%, followed by Banca Popolare di Sondrio and Unipol, both growing by 2.3%.
Focus on central bank decisions
With the initial reaction to Trump’s victory in the American elections now gone, the attention of investors has once again shifted to economic performance and monetary policies. Important meetings of the Fed and the Bank of England are scheduled today, both awaiting a possible cut in interest rates by 25 basis points. The press conference of the president of the Fed, Jerome Powell, will be particularly awaited, as it could provide guidance on future moves by the central bank and answer questions regarding the upcoming American presidential elections
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Macroeconomic data and bond market performance
Meanwhile, macroeconomic data from Germany showed a 2.5% drop in industrial production in September, a worse than expected result, accompanied by a 1.7% decrease in exports. This data could influence central bank decisions and market perception. On the bond front, the Btp-Bund spread stands at 130 basis points, with the Italian 10-year yield at 3.74% and that of the German benchmark at 2.44%. Investors continue to monitor these indicators closely, as they could have a significant impact on investment strategies.
Commodity and currency market trends
As far as raw materials are concerned, the price of oil remains essentially unchanged, with Brent around 75 dollars per barrel. Gold, after a sharp decline, stabilizes at 2,665 dollars. In the currency market, the euro/dollar exchange rate showed a slight recovery, rising to 1.076, while the dollar/yen fluctuated around 154. Finally, in the cryptocurrency world, Bitcoin maintains a position above 75 thousand dollars, continuing to arouse the interest of investors
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