Table of Contents:
Closing of European stock exchanges
European stock exchanges closed weakly, with the Ftse Mib ending down 0.4% to 34,740 points. Among the most affected stocks, Stellantis lost 4.6%, followed by Iveco down 4.4% and Ferrari, which closed at -2.6%. These data highlight a climate of uncertainty that continues to weigh on the markets, influenced by various economic and geopolitical factors
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Telecom Italia in evidence
Contrary to the general trend, Telecom Italia saw an increase of 5.7% thanks to market rumors regarding a possible interest of CVC Capital Partners in the majority stake held by Vivendi.
This development has attracted the attention of investors, who see this transaction as a potential strategic change for the company. The possibility of an acquisition could lead to a restructuring and new growth opportunities for Telecom Italia.
Economic indicators and forecasts
In addition to market movements, the economic data released showed a less negative picture than expected for the eurozone. The PMI indices showed an improvement, with the composite rising to 49.5 points, close to the threshold of no change. This was supported by a slight expansion in the tertiary sector, which offset the continued contraction in manufacturing. However, the situation remains fragile, with the focus on the Fed meeting, scheduled for Wednesday, where a possible rate cut of 25 basis points is expected.
Focus on monetary policies
In Europe, the president of the European Central Bank, Christine Lagarde, has confirmed that there will be further cuts, but that everything will depend on the economic data coming in. The meeting of the BoE and the BoJ is also expected this week, with the latter expected to keep rates unchanged.
On the bond front, the Btp-Bund spread is around 115 basis points, with the Italian 10-year period rising to 3.39% and the German benchmark to 2.44%.
Commodity and currency trends
Commodities show a mixed trend, with Brent oil trading slightly below 74 dollars per barrel and gold stabilizing at 2,650 dollars an ounce. In the currency market, the euro/dollar exchange rate remains stable at around 1.05, while the dollar/yen rose above 154, with the Japanese currency showing weakness pending the BoJ meeting
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Cryptocurrencies on the rise
Finally, in the cryptocurrency world, Bitcoin has reached a new all-time high, exceeding 106,000 dollars. This increase in value reflects the growing interest of investors in cryptocurrencies, despite global economic uncertainties. The continuous evolution of the cryptocurrency market could influence investment strategies in the coming months.
