The context of European stock exchanges
Today’s session saw a predominance of negative signs for European stock exchanges, with the Ftse Mib in Piazza Affari closing down 0.3% to 33,089 points. Among the most affected stocks, STM registered a decline of 2.3%, followed by Generali with a decrease of 2.2%. On the contrary, some stocks showed positive performance, such as MPS (+ 3.15%), Pirelli (+ 1.85%) and Campari (+ 1.8%), which
finished at the top of the ranking.
Macroeconomic data and their impact
On
the macroeconomic front, recent data have raised concerns among investors. The core PCE of the United States accelerated to 2.8%, fueling the Federal Reserve‘s doubts about its ability to contain inflation. In addition, the second reading on GDP confirmed robust growth, always at 2.8%. However, continuous claims for unemployment benefits increased, reaching their highs since 2021, signaling a possible easing in the labor market, pending
data scheduled for Friday.
Future prospects and international markets
Tomorrow, Wall Street will be closed for Thanksgiving and will operate with reduced hours on Friday. In Europe, investors are eagerly awaiting consumer price data, scheduled for Friday. On the bond front, the Btp-Bund spread contracted at 124 basis points, with the Italian 10-year spread at 3.41% and the German benchmark at 2.17%. As far as commodities are concerned, Brent oil remains stable at 72.3 dollars per barrel, while gold has seen an increase, reaching 2,641 dollars an ounce. In the currency market, the euro/dollar exchange rate rose to 1.056, while the dollar/yen fell to 151.2. Finally, among cryptocurrencies, Bitcoin has returned to 95,800 dollars
.