European stock exchanges below parity
The European stock exchanges opened the day below parity, affected by the negative closure of Wall Street and a mixed session on the Asian price lists. At Piazza Affari, the main index, the Ftse Mib, registered a decline of 0.5%, falling to 34,190 points. Among the stocks in evidence, Generali Assurances showed a positive performance, gaining 3.8% thanks to higher-than-expected results. In contrast, stocks like Interpump, Stm, and Diasorin experienced significant losses, of 5.1%, 1.8% and 1.7%, respectively
.
Macroeconomic data coming soon
Today, the macroeconomic agenda has provided important data from China, with industrial production increasing by 5.3% year-on-year, although below estimates. Retail sales, on the other hand, exceeded expectations, marking an increase of 4.8%. The UK’s Gross Domestic Product (GDP) also disappointed, with an increase of 0.1 percent in the third quarter and a contraction of 0.1 percent in September. This data could influence the decisions of central banks, which remain under observation.
Focus on central banks
The president of the Federal Reserve recently emphasized the resilience of the US economy, maintaining a cautious approach regarding possible interest rate cuts. Today, a speech is scheduled by the chief economist of the European Central Bank, Philip Lane, who could provide further guidance on future monetary policies. Investors are following these statements carefully, as they could have a significant impact on financial markets.
Trend in the bond and commodity markets
In the bond market, the spread between BTP and the Bund widened to 122 basis points, with the Italian 10-year yield falling to 3.56% and that of the German benchmark to 2.34%. Commodities show a mixed trend, with Brent oil falling to 71.5 dollars per barrel and gold standing at 2,565 dollars an ounce. These movements are indicative of increasing volatility in the markets, influenced by geopolitical factors and
global economic expectations.
Situation on Forex and cryptocurrencies
In the currency market, the euro/dollar exchange rate declined, falling to 1.055, while the dollar/yen remained stable at around 155.7. Cryptocurrencies, on the other hand, continue to experience moments of uncertainty, with Bitcoin slipping to 87,500 dollars. These developments highlight the need for constant vigilance from investors, as market dynamics can change rapidly
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