A difficult start for European stock exchanges
European stock exchanges opened the day with a significant decline, with the Ftse Mib recording a decrease of 0.7%, reaching 34,680 points. This subdued start was influenced by various factors, including the financial results of some of the major listed companies. In particular, Campari fell by 13% after reporting lower than expected revenues and adjusted Ebit, raising
concerns among investors.
Analysis of business performance
In addition to Campari, other companies have also shown disappointing performance. Prysmian saw a decrease of 2.5% on the eve of the publication of the results, while Moncler recorded a decrease of 2.1%. However, Saipem showed some resilience, gaining 0.7%.
This scenario highlights a climate of uncertainty among investors, who are eagerly awaiting the quarterly results of other large companies such as Meta and Microsoft.
Focus on macroeconomic data
The day is full of macroeconomic ideas, with attention paid to the GDP data of Germany, Italy, Spain and the eurozone for the third quarter. In addition, German and Spanish inflation in October represent an important indicator for the economic future of the European Union. These data will be essential to understand the trend of the European economy and possible future monetary policies. On the other side of the Atlantic, the United States will provide ADP employment data and the first estimate of GDP for the third quarter, key elements for analyzing the health of the American
economy.
Commodity markets and cryptocurrencies
In the commodities market, Brent oil saw an increase, returning to 71.3 dollars per barrel, while gold rose to 2,780 dollars an ounce. Bitcoin also continues to gain ground, exceeding 72,000 dollars, supported by inflows into ETFs and speculation about the upcoming US elections.
In the currency market, the euro/dollar exchange rate stands at 1.083, while the dollar/yen is at 153.2, waiting for the Bank of Japan meeting scheduled for tomorrow.