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(Il Sole 24 Ore Radiocor) – Le European stock exchanges the new week is starting off on the right foot after the weakness of the last week and while awaiting the macroeconomic appointments scheduled in the next few days, starting with the Fed’s decision on interest rates which will be announced on Thursday. In Piazza Affari the FTSE MIB Mib, while in the rest of the Old Continent Frankfurt is also making progress (DAX 40), Paris (CAC 40) e Amsterdam (AEX). Investors continue to monitor developments in the war between Israel and Hamas as well as the continuation of the quarterly season. In exchanges on Asian squares Safe haven assets such as gold and government bonds are declining, while Israeli military operations in Gaza appear to be proceeding more cautiously than some observers feared. The main Asian stock markets were mixed, with Shanghai progressing while Hong Kong was in the red despite Great Wall Motor’s +7% after the announcement of better-than-forecast results. Closing down for Tokyo, where the NIKKEI 225 left 0.95% on the ground.
German GDP at -0.1% in the third quarter, better than expected
In the third quarter, Germany’s GDP fell by 0.1% compared to the previous quarter and by 0.3% compared to the same period of 2022. The expectation was for a decline of 0.2% on the previous quarter and of 0.7 Trend %. Second quarter GDP was revised to +0.1% on the previous quarter.
In Milan St is in the spotlight, Mediobanca doing well after renewal of the board of directors
Among the Milanese stocks with the highest capitalisation, Stmicroelectronics comes to the fore after closing Friday’s session in the red. Good too Prysmian, Hera e Italgaswhile they are in the red Iveco Group e Banca Mps. Below parity too Unicredit despite the start of the 2.5 billion buyback. Earn money instead Mediobanca after the victory of the board of directors’ list in Saturday’s meeting: the shareholders therefore confirmed their trust in the management led by the CEO. Alberto Nagel.
Gold and oil are slowing down. Euro down to 1.056 dollars
On the currency market, the euro fell to 1.0565 dollars from 1.0590 at the close on Friday. The single currency is also worth 157.87 yen (from 158.08 on Friday), while the dollar/yen ratio is at 149.43 (from 149.49). The price of oil is falling with the December future on WTI down 1.43% to 84.32 dollars a barrel and the similar delivery on Brent falling by 1.16% to 89.43 dollars. The price of electricity increased by 3.7% to 52.4 euros per megawatt hourasnaturale on the Amsterdam TTF platform. As mentioned, gold is holding back, exceeding 2,000 dollars an ounce on Friday for the first time since May after the start of Israel’s ground offensive: spot delivery retreats by 0.2% to 2,001.65 dollars .
Spread down to 196 points, yield drops to 4.72%
Opening slightly down for the month spread between BTp and Bund. At the beginning of the session, the yield differential between the benchmark ten-year BTp (Isin IT0005518128) and the German equivalent duration stood at 196 points, from 197 points at Friday’s close. The yield of the benchmark ten-year BTp fell more sharply, starting trading at 4.72% from 4.81% last Friday.
2023-10-30 09:33:43
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