Table of Contents:
A positive opening for European stock exchanges
The European stock exchanges recorded a mostly positive session, with the Ftse Mib in Piazza Affari closing up 0.6%, reaching 34,731 points. Among the outstanding securities, there are purchases on Leonardo, Telecom Italia and Saipem, which saw an increase of 3.1%, 3% and 2.6% respectively. However, not all companies benefited from this favorable climate: A2a, Hera and Diasorin closed lower, with a decline of 0.9% for each of them
.
Inflation in the United States: data in line with expectations
A key report on inflation in the United States was released today, which confirmed analysts’ expectations. The consumer price index accelerated to 2.7% year-on-year in November, while the core CPI remained stable at 3.3%. These data consolidate the expectation of a possible cut in interest rates by the Federal Reserve, scheduled for next week. However, forecasts for further reductions in 2025 have been revised downwards, suggesting a more cautious approach on the part of the central bank
.
ECB meeting and impacts on the markets
Another crucial event for the markets is the meeting of the European Central Bank, scheduled for tomorrow. President Christine Lagarde and her colleagues are expected to announce a cut of 25 basis points, but the focus will be mainly on updated macroeconomic projections and the tones used in communication. Investors are eager to understand how the ECB intends to face next year’s economic challenges
.
Commodity and Forex trends
In the commodities market, Brent oil saw an increase, reaching 73 dollars per barrel, thanks to the decline in inventories in the United States. However, OPEC’s demand estimates for 2024 and 2025 have been revised downwards, creating uncertainty in the sector. Gold also showed an increase, returning to 2,710 dollars an ounce. On the Forex front, the euro/dollar exchange rate fell below 1.05, while the dollar/yen strengthened
to 152.5.
Cryptocurrencies and acquisitions in the energy sector
In the cryptocurrency world, Bitcoin has regained momentum, rising again to 101,000 dollars. In addition, the European Commission has given the green light to Shell’s exclusive acquisition of Pavilion, focusing on the trade of liquefied natural gas in Asia and Europe. This decision did not raise competition concerns, thanks to the limited market position of the two companies combined
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