Current situation of European stock exchanges
The European stock exchanges are in a phase of light and dark, with Frankfurt closing positively while Paris is held back by political uncertainties. At Piazza Affari, the Ftse Mib recorded an increase of 0.2%, reaching 33,483 points. However, the Stellantis stock fell sharply by 6.3% due to the resignation of CEO Tavares, an event that adds to the company’s recent difficulties in the
commercial landscape.
Significant movements in the market
Among the stocks in evidence, Nexi saw a jump of 5.5%, driven by the surge of the French peer Worldline, which gained 14% thanks to the interest of some private equity firms.
Campari registered an increase of 2.3% after the release of positive data from China, while Italgas and Erg saw a decrease of 2.2% and 1.6% respectively.
Macroeconomic indicators and future prospects
On the macroeconomic front, the manufacturing PMI indices for Spain and Italy have been published, with values of 53.1 and 44.5 respectively.
Italian GDP for the third quarter remained unchanged, while unemployment in the eurozone stood at 6.3%, with Italy falling to 5.8%. In the United States, the ISM manufacturing index showed an improvement, rising to 48.4 points, exceeding
expectations.
Focus on bond markets and commodities
In the bond market, the Btp-Bund spread exceeded 122 basis points, with the Italian 10-year yield set at 3.26% and that of the German benchmark at 2.04%. On the commodity front, Brent oil fell below 72 dollars per barrel, pending the OPEC+ meeting scheduled for December 5. Gold, on the other hand, is trading around 2,640 dollars
an ounce.
Trend of currencies and cryptocurrencies
In the currency market, the euro/dollar exchange rate continues to weaken, falling below 1.05, while the dollar/yen falls to 149.2. Among cryptocurrencies, Bitcoin fluctuates around 97,000 dollars. Wall Street opened with a positive trend, with the Dow Jones and the S&P 500 continuing to set historic records
.
Next events to follow
The week promises to be crucial, with significant macroeconomic data expected to be released, including the November employment report. Manufacturing activity in the United States showed a slight contraction, with the manufacturing PMI index standing at 49.7 points, remaining below the expansion threshold. Despite this, there is an improvement in optimism among producers, influenced by political uncertainties and expectations of more robust economic growth
.
International agreements and unemployment rates
An important agreement has been signed between Qatar and Shell to supply three million tons of gas per year to China, with deliveries scheduled to start in January 2025. This is part of a series of long-term contracts that Qatar has recently concluded with various international partners. In October, the unemployment rate in the Eurozone remained stable at 6.3%, in line with forecasts, while in the EU it stood at 5.9%, according to Eurostat data
.