Table of Contents:
An encouraging ending for European stock exchanges
European stock exchanges closed the day with a mostly positive ending, while investors are looking forward to the Federal Reserve announcement and President Jerome Powell’s press conference. At Piazza Affari, the Ftse Mib registered a marginal change, closing at +0.1% at 33,981 points. All eyes are on companies’ quarterly reports, which continue to influence market sentiment
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Performance of Italian companies
Among the companies that shone, Banco Bpm saw an increase of 9% after the publication of the quarterly report and the announcement of the takeover bid on Anima. Iveco also recorded a significant jump of 10.7%, supported by positive quarterly results. However, not all the news was positive: Prysmian fell by 3.8%, followed by Snam (-3.1%) and Intesa Sanpaolo (-2.95%). These movements highlight market volatility, influenced by both internal and external factors
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Focus on monetary policy and the global economy
With the Trump election now behind us, markets are once again focusing on the economy and monetary policy. The Federal Reserve is expected to report an interest rate cut of 25 basis points, in line with the Bank of England’s recent decision. Jerome Powell’s statements will be crucial for understanding the Fed’s future moves and for answering the inevitable questions regarding the next president of the United States
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Macroeconomic data and market impacts
Recently, significant macroeconomic data were published, including German industrial production and exports, which showed a decline of 2.5% and 1.7% respectively in September. In the United States, claims for unemployment benefits increased by 3,000, reaching a total of 221,000. This data could influence future Fed decisions and market sentiment
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Trend in bond and commodity markets
In the bond market, the Btp-Bund spread stands at 130 basis points, with the Italian 10-year yield at 3.72% and that of the German benchmark at 2.42%. As far as commodities are concerned, Brent oil has exceeded 75 dollars per barrel, while gold is once again approaching 2,700 dollars after a sharp decline. These developments are indicative of the global dynamics affecting financial markets
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Movements in the currency and cryptocurrency market
In the Forex market, the euro/dollar exchange rate rose to the 1.08 area, while the dollar/yen depreciated to 153. In the cryptocurrency world, Bitcoin stands at around 75,800 dollars, continuing to arouse investor interest. These movements highlight the importance of monitoring global trends and market reactions in real time
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