Table of Contents:
Introduction to the performance of European stock exchanges
The Old Continent stock exchanges started the week with a positive trend, showing a significant increase in various indices. At Piazza Affari, the Ftse Mib registered an increase of 0.4%, reaching 34,900 points. Among the best performing securities, Banca Popolare di Sondrio, Bper and Banco Bpm stand out, which saw an increase of 2.1% and 1.5% respectively. However, there is no shortage of negative notes, with oil stocks such as Eni and Saipem falling back.
Factors affecting the market
The day proved to be poor in significant ideas, with the focus mainly on data on manufacturing activity in Dallas and the 2 and 5 year Treasury auction in the United States. In the coming days, investors will focus on a series of crucial data, including the labor market and the core PCE in the United States, in addition to eurozone inflation and GDP. This data could influence the decisions of central banks and, consequently, the behavior of the markets.
Future prospects and market analysis
Big tech quarterly reports and statements by central bankers will be the center of attention, especially in view of the US presidential elections on November 5. On bonds, the Btp-Bund spread stood at 121 basis points, with the Italian 10-year period rising to 3.54% and the German benchmark at 2.33%. These indicators are essential to understand the current economic dynamics and the future expectations of investors.
Commodities and currencies
In the commodities sector, oil declined by 4%, with Brent at 72.4 dollars per barrel. This decline was influenced by Israel’s attacks against Iran, which hit only military targets, excluding oil facilities. Gold, on the other hand, stabilizes at 2,740 dollars an ounce, maintaining a certain appeal as a safe haven. In the currency market, the euro/dollar exchange rate stood at 1.081, while the dollar/yen rose to 153.3 yen per dollar, following the loss of a parliamentary majority by the ruling
Japanese coalition.
