European Markets Extend Positive Streak: Euro Remains Close to 1.1 Dollars, Oil Prices Rising Due to Red Sea Tensions

Finance

Of Stefania Blasioli e Giorgia Colucci

European markets are preparing to extend their positive streak. Euro still close to 1.1 dollars. Oil is rising due to tensions in the Red Sea. The gas runs. Spread close to 160 points

2′ reading

(Il Sole 24 Ore Radiocor) – In the aftermath of a session of increases, the European stock exchanges open positively (STOXX 50), fueled by hopes of cuts in the cost of money that continue to heat up the markets. After the Eurostat data, which on the eve of the show showed a slowdown in inflation in the Eurozone, with the annual rate falling to 2.4% in November (while in October it was at 2.9% and a year earlier at 10.1% ), this morning it was the turn of the United Kingdom, which saw a decline of 0.2% in November, when compared to a year ago consumer prices rose by 3.9%, recording a slowdown compared to the trend stable in October, higher than analysts’ forecasts who expected +0.1% on a monthly basis. Still on the macro front, data relating to consumer confidence in the US are also expected today.

So the FTSE MIB of Milan is above parity, with the shot of Telecom Italia. The other continental markets also rose, with theIBEX 35 in Madrid, the CAC 40 in Paris, the DAX 30 in Frankfurt andAEX in Amsterdam. Yesterday Wall Street closed on the rise again, continuing the rally that has lasted uninterrupted for 9 sessions. And this morning Tokyo responded with another rise in the indices in the wake of the Boj’s accommodative policy.

Spread falling close to 160 points

Opening still declining for the yield of the 10-year BTp which yesterday had already updated the minimums since December 2022. The yield of the ten-year benchmark (Isin IT0005560948) rose to 3.61% in the first trades from 3.62% at the close of Yesterday. The spread between the yield of the Italian bond and that of the same German bond, it is stable at 161 points given that the Bund yield also limited slightly, falling below 2% (1.99%). According to analysts at Dz Bank, it is likely that the Bund yield may rebound in the coming weeks given that expectations of an upcoming interest rate cut by the ECB are easing on the market: the investment bank expects to see the Bund yield in the 2.50% area over the three-month horizon.

Euro touches 1.1 dollars, gas starts to run again

On the currency, the euro it is still looking at 1.1 dollars (from 1.0979 at the previous closing) and exceeds 157 yen (157.52 on the eve). He returns to run the price of natural gasafter the previous plunge, to over 34 euros per megawatt hour, while tensions in the Red Sea continue to push oil prices: the Brent February rose slightly above 79 dollars a barrel and the Wti of the same maturity is around 74.

Tokyo chiude in rally

The Tokyo Stock Exchange closed trading with a rise of 1.37% in the Nikkei index at 33675.94 points. In two sessions the Japanese price recovered an overall 2.8%, revising the highest levels since June after the Bank of Japan kept its expansionary monetary policy unchanged with repercussions on the yen: the exchange rate between the dollar and the yen yesterday went up to 143.7 (142 at the end of last week), recording a further decline in the last session. The Topix index closed the session up by 0.67% at 2349.28 points.

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2023-12-20 07:41:15
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