Overview of European stock exchanges
The European stock exchanges recorded a session characterized by some stability, with the Ftse Mib in Piazza Affari closing slightly higher, marking an increase of 0.2% to 34,776 points. Among the best performing stocks, Iveco Group stands out with an increase of 3.2% and shares in the oil & gas sector such as Saipem (+ 2.5%), Tenaris (+ 1.9%) and Eni (+ 1.7%), the latter supported by recently published financial
results.
On the contrary, there were declines for Unipol (-1.6%) and Nexi (-1.05%). These movements highlight a European stock market that, while showing signs of growth, is influenced by external and internal factors
.
Economic Indicators and Consumer Confidence
A key element to consider is the German Ifo index, which reported an improvement in business expectations. This is a positive sign that could indicate an ongoing economic recovery. In the United States, consumer confidence has reached a six-month high, thanks to the expectation of a reduction in rates by the Fed and other central banks.
However, orders for durable goods in the US showed a decrease of 0.8% in September, a figure lower than the forecasts of -1%.
These economic indicators are crucial for investors, who continue to monitor quarterly reports and prepare for the U.S. presidential elections on November 5.
Future Prospects and Commodity Markets
Next week promises to be full of significant events, with the focus on crucial data such as the labor market and the core PCE in the US, in addition to inflation and the eurozone’s GDP. Big tech quarterly reports will also be in the spotlight, as they could significantly influence market sentiment
.
In the bond sector, the Btp-Bund spread stands at 121 basis points, with the Italian 10-year spread at 3.5% and the German benchmark at 2.29%.
As far as commodities are concerned, Brent oil saw an increase, reaching 75.4 dollars per barrel, while gold appreciated, returning to 2,740 dollars an ounce.
Finally, in the currency market, the euro/dollar exchange rate stands at 1.082, while the dollar/yen remains stable at around 152 yen per dollar. The statements made by Christine Lagarde, president of the ECB, during the annual meeting of the International Monetary Fund, could provide additional ideas for investors
.
