Negative start for the European stock exchanges
The main European stock exchanges opened the day with a negative trend, with Piazza Affari standing out for a particularly disappointing performance. The Ftse Mib index fell by 0.95%, to 33,866.61 points. This decline was significantly influenced by the coupon gap, which weighed about 1.22% on the
index.
The role of the coupon detachment
On a day without significant macroeconomic data, investors’ attention is focused on the topic of autumn coupons. Several companies listed on the Ftse Mib are about to pay their last dividend for 2024. These include well-known names such as Banca Mediolanum, Banco Bpm, Intesa Sanpaolo, Poste Italiane, Recordati, Tenaris, Terna and Unicredit. For some of these companies, this is a quarterly tranche, while for others it is a down payment on the distribution for the next financial year or a final balance
.
Bond and Commodity Market Analysis
In the bond market, the spread between BTP and the Bund stands at 120 basis points, with the Italian 10-year yield set at 3.57% and that of the German benchmark at 2.37%. This scenario shows some stability, despite the tensions in the stock markets.
As far as commodities are concerned, the price of Brent oil is slightly higher, reaching 71 dollars per barrel, while gold stands at 2,588 dollars an ounce.
Movements on Forex and cryptocurrencies
In the currency market, the euro/dollar exchange rate shows signs of recovery, reaching 1.0543. The cryptocurrency sector is also experiencing a positive moment, with Bitcoin rising to 91,800 dollars. These movements indicate some volatility, but also opportunities for investors looking to capitalize on market fluctuations
.
Future forecasts
According to Goldman Sachs’ forecasts, gold could reach a new record next year, thanks to central bank purchases and possible interest rate cuts. This scenario could further influence financial market dynamics, making it essential for investors to closely monitor economic developments and monetary policies
.