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(Il Sole 24 Ore Radiocor) – After a negative start to 2024, the European stock exchanges they experience the rebound and travel upwards. An increase that however remains quite limited, with investors looking at the inflation numbers to draw hopes on the central banks’ next moves. In France, prices rose by 3.7% on year, accelerating again after +3.5% in November, while the numbers on German inflation will arrive today and, in the next few days, the key ones on Eurozone prices and the United States. Meanwhile, on Wednesday the Federal Reserve’s minutes confirmed the impression of a central bank having reached the end of the rate rise cycle even if the timing of the easing remains uncertain. In fact, according to the majority of FOMC members, it is appropriate to maintain a restrictive policy for some time to come in an anti-inflation perspective.
So they go up the FTSE MIB of Milan, the CAC 40 of Paris, the DAX 40 of Frankfurt, theAEX of Amsterdam theIBEX 35 of Madrid and the FT-SE 100 from London. Asian markets are down, with Tokyo (-0.5%) returning to trading after the New Year break. In the meantime, let’s look at the data on the European services sector: in Germany the PMI index fell to 49.3 points, while it rose in Spain (to 51.5 points), France (to 45.7 points) and Italy (at 49.8 points). The overall figure for the Eurozone rose to 48.8 points, the highest in five months. Furthermore, employment data are also expected in the United States on Friday, a litmus test of the health of the US economy.
Leonardo and the banks in the spotlight, with luxury still in the queue
As regards securities, the Ftse Mib proceeds on sight in the absence of any major news to guide the session: Leonardo – Finmeccanica it is the best, among other things on the day in which, in an interview with the Financial Times, CEO Cingolani called for greater collaboration between European companies in the defense sector. They continue to shine Banca Mpswhile the issue of banking risk remains current and pushes the sector (good Bpm Bank, Banca Pop Er e Generali Bank). In coda Tenaris e Brunello Cucinellithe latter still falling in the aftermath of a session in which the doubts expressed by UBS on the luxury sector had put the stocks of the entire sector in Europe under pressure.
Spread slightly decreasing in the 166 point area
Declining trend for the spread between BTp and Bund. The yield differential between the benchmark ten-year BTp (Isin IT0005560948) and the German equivalent maturity stood at 166 basis points, compared to 168 basis points at the closing date the day before. The yield of the benchmark ten-year BTp also fell slightly, reaching 3.66%, from 3.69% at the previous closing.
Oil on the rise, gas prices also on the rise
Oil is still on the rise, with the spotlight on tensions in the Middle East and possible supply turbulences: February WTI contracts rise by 0.91% to 73.36 dollars a barrel, March Brent contracts by 0, 63% to $78.74. The prices of natural gas traded in Amsterdam are increasing: after having achieved a first position at 33.57 euros per megawatt hour, they rise by 3.08% to 33.8 euros.
2024-01-04 09:22:30
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