Introduction to the European Economic Context
European stock exchanges started the day with a weak trend, influenced by various economic factors and by the wait for inflation data. In particular, the Ftse Mib in Piazza Affari fell by 0.2%, to 33,190 points. This scenario is further complicated by the early closure of Wall Street, due to Thanksgiving, which has led to some caution among investors
.
Analysis of company performance
Among the outstanding securities, Generali suffered a loss of 1.5%, in relation to its possible 50% stake in the new asset management platform in a joint venture with Natixis. On the contrary, MPS showed a positive sign, with an increase of 1.1%, continuing to benefit from the recent reorganization of the Italian banking sector. These market movements highlight how companies are reacting to a changing economic environment, where investor expectations play
a crucial role.
Focus on inflation and macroeconomic data
A key element to monitor is the trend of inflation in the eurozone, with outgoing data that could further influence monetary policy decisions. Consumer price data in France showed lower than expected growth, standing at 1.7%, well below the 2% target set by the European Central Bank (ECB). In Germany, inflation remained unchanged at 2.4%, while in Spain it increased in line with forecasts. These data are essential for understanding current economic dynamics and the possible reactions of central banks.
Bond markets and commodities
In the bond market, the Btp-Bund spread remains stable at around 122 basis points, with the Italian 10-year yield falling to 3.34% and that of the German benchmark to 2.12%. Commodities are showing an interesting trend, with Brent oil trading at 72.2 dollars per barrel and gold approaching 2,660 dollars an ounce. These values are indicative of geopolitical tensions and expectations for global economic growth
.
Trend of currencies and cryptocurrencies
In the currency market, the euro/dollar exchange rate stands at 1.057, while the dollar/yen is trading at 150.1, following recent inflation data in the Tokyo region. This data could support a rate hike by the Bank of Japan in December. In addition, Bitcoin saw an increase, rising to 95,700 dollars, signaling a renewed interest in cryptocurrencies in a context
of economic uncertainty.