Stability of European stock exchanges
The European stock exchanges recorded a session characterized by some stability, with the Ftse Mib in Piazza Affari closing substantially unchanged, marking a modest increase of 0.09% to 34,888.79 points. Among the outstanding securities, Telecom Italia gained 2.7%, pending an offer for Sparkle scheduled by December 18.
Iveco and Bper Banca also showed positive performance, with an increase of 2.4% and 1.7% respectively.
Fluctuations in luxury securities
On the contrary, luxury stocks declined significantly, with Brunello Cucinelli and Moncler recording losses of 1.9% and 1.8%. This decline is attributable to disappointment with economic stimulus from China, which did not meet investor expectations. The day was marked by a limited number of significant economic events, with the focus on the next Fed meeting, where a possible cut in interest rates by 25 basis points is expected.
Focus on global economic data
In addition, investors are closely monitoring European PMI indices, industrial production and retail sales in China. BoE and BoJ meetings are also expected, with forecasts indicating that interest rates will remain unchanged.
On the bond front, the Btp-Bund spread stood at 113 basis points, with the Italian 10-year yield rising to 3.38% and the German yield to 2.45%.
Commodities and currencies
As far as raw materials are concerned, the price of Brent oil is close to 74 dollars per barrel, influenced by expectations of stricter sanctions by the United States against Iran and Russia. These concerns add to a global surplus forecast for 2025. Gold, on the other hand, saw a decline, falling around 2,660 dollars an ounce.
In the currency market, the euro/dollar exchange rate is around 1.05, while the dollar/yen goes back to 153.6.
Cryptocurrency trends and American markets
In the cryptocurrency sector, Bitcoin continues to fluctuate around 100,000 dollars. In the United States, Wall Street opened in positive territory, with Nasdaq supported by the performance of Broadcom, which has exceeded the threshold of one trillion in capitalization thanks to advances in the field of artificial intelligence. However, the Bundesbank has revised its German GDP growth forecasts downwards, highlighting structural challenges that could affect the economy in the
short term.