The current context of European stock exchanges
The European stock exchanges showed an unmoved finish, with the Ftse Mib closing unchanged at 34,698 points. Among the outstanding securities, Saipem recorded an increase of 4.6% after the publication of the results and the revision of the guidance. Other titles such as Brunello Cucinelli and Stellantis saw an increase of 1.6% and 1.5% respectively. However, not all the news is positive: Nexi and Banco Bpm fell by 2% each.
This scenario is part of a context of weak economic activity in the eurozone, as evidenced by the recently released PMI indices
.
Wall Street and the tech sector
In the United States, Wall Street has made significant progress, driven by technology stocks. In particular, Tesla saw an increase of 17% after the publication of the financial results. New home sales topped estimates, while initial jobless claims fell, suggesting a resilience in the U.S. economy. The PMI indices showed solid expansion, highlighting robust demand in the services sector. Investors continue to monitor quarterly reports and make assumptions about central banks’ next moves, in an atmosphere of waiting for the
American elections.
Geopolitical implications and raw materials
Geopolitical tensions, especially in the Middle East, continue to influence markets. Brent oil remains below 75 dollars per barrel, while gold has surpassed 2,730 dollars an ounce after a recent record. The situation in Gaza and Lebanon is under observation, with the United States pushing for a ceasefire. On the bond front, the Btp-Bund spread contracted at 120 basis points, with the Italian 10-year spread at 3.45% and the German benchmark at 2.25%. These geopolitical and macroeconomic factors are crucial for understanding current market trends and future expectations
.
