The current context of European stock exchanges
The European stock exchanges closed the day with a mostly positive ending, pending the important announcement by the Federal Reserve (Fed) and the press conference of President Jerome Powell. At Piazza Affari, the Ftse Mib recorded a marginal increase of 0.1%, reaching 33,981 points. Investors focused on the companies’ quarterly reports, which showed mixed results
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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 a takeover bid on Anima. Iveco also recorded a significant jump of 10.7%, supported by the positive results of its financial statements. However, not all the news was positive: Prysmian fell by 3.8%, followed by Snam and Intesa Sanpaolo, which saw a decrease of 3.1% and 2.95% respectively. These movements highlight market volatility and the importance of company news in determining stock performance
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Expectations for the Fed and the global economy
With the Trump election now over, markets are once again focusing on economic issues and monetary policies. The Fed is expected to announce an interest rate cut of 25 basis points, in line with the Bank of England’s recent decision. Investors are waiting for Powell’s statements, which could provide guidance on future monetary policies and the economic direction of the United States. In addition, macroeconomic data from Germany showed a contraction in industrial production and exports, by 2.5% and 1.7% respectively in September, while claims for unemployment benefits in the United States increased by 3,000, bringing the total to 221,000
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Bond markets and commodities
In the bond market, the spread between BTP and the Bund stands at 130 basis points, with the Italian 10-year yield set at 3.72% and that of the German benchmark at 2.42%. Commodities are showing an interesting trend, with Brent oil returning above 75 dollars per barrel, while gold approaches 2,700 dollars again after a sharp drop. In the currency market, the euro/dollar exchange rate rose to the 1.08 area, while the dollar/yen depreciated to 153. Finally, in the cryptocurrency world, Bitcoin stands at around 75,800 dollars, continuing to show some stability despite recent fluctuations
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