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(Il Sole24Ore Radiocor) – In the first session of the new year, European stock markets are on the rise, resuming the 2023 run which saw the Stoxx600 index rise by almost 13% and Piazza Affari gain a total of 28%. The main European price lists are in progress, in particular the FTSE MIB of Milan, driven by banks and oil stocks, and theIBEX 35 in Madrid. Also positive DAX 30in Frankfurt, theAEXin Amsterdam and the CAC 40 Paris
In today’s macroeconomic calendar, pay attention to the PMI indices for December in Europe and the United States but inflation in the Eurozone (Germany on Thursday and Eurostat data on Friday) will represent the main indicator for the Old Continent. In the US on Wednesday the minutes of the Fed’s latest monetary policy meeting, on Friday the jobs report for December.
Oil rises on tensions in the Middle East,
Oil prices on the rise due to tensions in particular in the Middle East with the risk of interruptions in supplies due to clashes in the Red Sea between the United States and the Yemeni Houthi group: the Brent March exceeds 78 dollars a barrel, the Wti February aims for 73. Gas natural little moved at 32.3 euros per megawatt hour. On the currency market, the dollar still recovers some positions against the single European currency, moving further away from 1.1: the exchange rate between euro and dollar it stands at around 1.03. The yen lost ground, trading at 141.4 for a dollar and 155.94 for a euro with operators attentive to the consequences of the strong earthquake in Japan.
The spread is stable
Starting on unchanged levels for the spread BTp/Bund. In a context of general increase in yields on the euro curve, the yield differential between the benchmark ten-year BTp (Isin IT0005560948) and the German equivalent maturity stood at 167 basis points, stable compared to the previous closing. The yield of the benchmark ten-year BTp showed a clear increase, marking a first position at 3.74% from 3.70% at the end of the day before.
Asia in red for Chinese data
Yet the stock picture in other areas is different: Hong Kong is falling, with sales in the real estate sector, and so is SHANGHAI STOCK EXCHANGE A SHARES INDEX it retreats after the indicators on economic activity obtained from the purchasing managers of Chinese companies signal a sluggish manufacturing in December (minimal increase for the Caixin data, but a decline in the official Beijing data more focused on state companies). The Tokyo Stock Exchange closed for the first three days of 2024 while the yen suffers slightly on the other currencies with operators attentive to the consequences of the strong earthquake that hit the archipelago
2024-01-02 08:03:45
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