Closing of European stock exchanges
Most European stock exchanges closed weakly, with the Ftse Mib ending down 0.4% to 34,740 points. Among the most affected stocks, Stellantis saw a decline of 4.6%, followed by Iveco and Ferrari, which lost 4.4% and 2.6% respectively. This market scenario reflects the economic uncertainties that continue to affect investors
.
Telecom Italia on the rise
Contrary to the general trend, Telecom Italia recorded a significant increase of 5.7%. This increase was fueled by rumors regarding a possible interest of CVC Capital Partners to acquire a majority stake in Vivendi. The news has aroused renewed optimism among investors, highlighting how business dynamics can positively influence securities even in an unfavorable market environment
.
Economic indicators and interest rates
In addition to market movements, investors are closely monitoring the recently published PMI indices, which have shown a less negative picture than expected for the eurozone. The composite figure rose to 49.5 points, close to the threshold of no change, thanks to a slight expansion in the tertiary sector. However, the contraction in the manufacturing sector continues
to worry.
Ahead of the Federal Reserve meeting, scheduled for Wednesday, a possible cut in interest rates by 25 basis points is expected. Investors are also waiting for the dot plot to be updated, which provides guidance on future projections of the cost of money. In Europe, Christine Lagarde has confirmed that there will be further cuts, but the final decision will depend on the economic data coming
in.
Commodity markets and cryptocurrencies
In the commodities market, Brent oil is trading slightly below 74 dollars per barrel, while gold is around 2,650 dollars an ounce.
On the currency front, the euro/dollar exchange rate remains stable at around 1.05, while the dollar/yen rose above 154, with the Japanese currency showing signs of weakness pending the BoJ meeting.
Finally, in the cryptocurrency world, Bitcoin has reached a new all-time high, exceeding 106,000 dollars. This development highlights the growing interest in cryptocurrencies, despite global economic uncertainties
.