Introduction to the performance of European stock exchanges
European stock exchanges opened the day with a positive trend, reflecting a climate of optimism among investors. In particular, the Ftse Mib in Piazza Affari recorded an increase of 0.6%, reaching 33,500 points. Among the best performing titles, Stm stands out with +1.7%, Unipol at +1.6% and Prysmian at +1.2%. However, not all companies showed signs of growth, with Leonardo seeing a decline of 0.6%
.
Focus on PMI data and the ECB
Today, investors’ attention is focused on European PMI indices, which will provide crucial guidance to the European Central Bank (ECB) to assess the region’s economic growth. These data will be essential to understand the pace at which the ECB may decide to lower interest rates at upcoming meetings. In addition, interventions are planned by important representatives of the ECB, including Lagarde, Centeno, Nagel, Villeroy and Schnabel, which could
further influence market expectations.
Analysis of retail sales and GDP
In the United Kingdom, retail sales registered a larger than expected decline in October, with a decrease of 0.7% compared to the previous month. This figure has been met with concern, as it suggests a possible contraction in consumer spending. In addition, the final GDP of the third quarter in Germany was revised downwards, from +0.2% to +0.1%, showing further signs of weakness in the European
economy.
Nvidia’s American and Quarterly Markets
In the
United States, the focus is on PMI data and the University of Michigan consumer confidence index. Nvidia‘s quarterly report elicited mixed reactions among investors, despite higher-than-expected results and forecasts. However, the tech giant’s profits helped to support the shares of chip manufacturers in Asia, signaling a possible recovery in the sector
.
Situation of the bond and commodity markets
In the bond sector, the Btp-Bund spread stands at 124 basis points, with the Italian 10-year yield around 3.57% and that of the German benchmark at 2.33%. As far as raw materials are concerned, Brent oil reached 74.7 dollars per barrel, while gold is close to 2,700 dollars an ounce, influenced by geopolitical tensions
in Ukraine.
Forex and cryptocurrency trends
In the currency market, the euro/dollar exchange rate remains just under 1.05, while the dollar/yen stands at 154.7, with the yen supported by inflation data, which exceed 2% and suggest possible rate increases. Finally, among cryptocurrencies, Bitcoin trades over 99,000 dollars, continuing to show strong volatility
.