The current context of European stock exchanges
The European stock exchanges recorded a positive day, with the Ftse Mib closing 0.6% higher at 33,494 points. Among the titles in evidence, Brunello Cucinelli gained 3.8%, followed by Diasorin with 3.2% and Recordati with 2.9%.
However, the banking sector showed signs of weakness, with Unicredit down 1.9% and Bper down 1.5%.
These market movements were influenced by recent data on SMEs, which showed a contraction in economic activity in the eurozone, with a more marked decline in the manufacturing sector and a deterioration also in services. The economic difficulties of key countries such as Germany and France have raised concerns among investors
.
Expectations for the ECB and inflation
The news on SMEs has rekindled betting on the markets regarding a possible cut in rates by the European Central Bank (ECB) in December, with a hypothesis of a reduction of 50 basis points. This scenario has helped to further curb the banking sector, which is already under pressure. In addition, rising wages continue to support service costs, creating an environment of persistent inflation
.
In the
United States, the consumer confidence index showed an increase, but below expectations, while the manufacturing PMI registered a decline. These data suggest moderate economic growth, with investors remaining cautious waiting for further guidance from the
Fed.
The prospects for markets and raw materials
Looking ahead, investors will need to pay attention to euro area inflation data and Fed minutes, which could provide additional insights on monetary policies.
In the bond sector, the Btp-Bund spread stands at 125 basis points, with the Italian 10-year period falling to 3.50%.
In the commodities market, Brent oil remains just under 75 dollars per barrel, while gold returns to 2,700 dollars an ounce, influenced by geopolitical tensions in Ukraine.
On the currency front, the euro/dollar exchange rate falls below 1.04, while the dollar/yen stands at 154.9.
Finally, in the cryptocurrency sector, Bitcoin flirted with the threshold of 100,000 dollars, but is currently below 99,000 dollars. Investors continue to closely monitor macroeconomic data and possible political appointments in the United States, which could further influence markets
.