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European stock markets are moving cautiously with their eyes on the conflict in Israel, on the day of US President Joe Biden’s visit, while fears remain about the continuation of the monetary tightening, after the positive quarterly data of some US banks and also overseas retail sales. The main indices of the Old Continent are moving mixed, from FTSE MIB of Milan al CAC 40 of Paris passing through the DAX40 of Frankfurt, theAEX of Amsterdam and theIBEX 35 of Madrid, until FT-SE 100 from London.
Asian stock markets are weak, despite the support of better-than-forecast Chinese macroeconomic data (GDP and industrial production): Shanghai lost 0.7%, while Tokyo closed at parity. Among the titles, eyes on I connected after rumors of interest from the CVC fund. The spread between BTp and Bund remains above the threshold of 200 basis points. In the first stages, the yield differential between the benchmark ten-year BTp and the German equivalent duration stood at 201 points, unchanged compared to yesterday’s reference. However, the yield of the benchmark ten-year BTp is on the rise, marking a first position at 4.91% from 4.89% at yesterday’s closing.
Oil goes up and gas goes down
On the currency market, the euro is indicated at 1.0588 dollars from 1.0582 the day before the closing. The single currency is also worth 158.46 yen (158.44), while the greenback is at 149.64 yen (from 149.73). The price of oil is rising sharply: the November future on WTI gains 2.16% to 88.53 dollars a barrel, while the December delivery on Brent rises by 1.84% to 91.55 dollars. Natural gas in Amsterdam fell by 2.4% to 47.7 euros per megawatt hour. Gold is rising, reaching a four-week high due to increased risk aversion: spot delivery in London rises by 0.9% to 1,939.75 dollars an ounce.
Asian stock exchanges
Asian and Pacific area stock markets generally with little change, while the Shanghai and Shenzhen stock markets are closing down by 0.7% and 1.3% respectively. The better-than-expected GDP data from Beijing were not enough for the local stock markets, which are looking above all at the moment which remains critical for the real estate sector. The Tokyo stock market increased by 0.1%, Hong Kong fell by 0.2% and Seoul was flat. Slight growth for Sydney (+0.3%), with futures on the start of the markets remaining uncertain. China’s GDP grew 5.2% year-on-year in the first three quarters of 2023, according to data from the National Bureau of Statistics (NBS). According to NBS data, in the first three quarters China’s GDP exceeded 91,300 billion yuan (about 12,700 billion dollars). According to NBS, in the third quarter the country’s GDP grew by 4.9% on an annual basis.
UK: +0.5% inflation in September, +6.7% trend
In Britain the consumer price index rose in September by 6.7% in the 12 months to September 2023, the same pace as in August. This was announced by the English National Statistics Office. On a monthly basis, consumer prices rose 0.5% in September 2023, the same rate as in September 2022. According to the UK office, the largest downward contributions to the monthly change in annual price rates “came from food and soft drinks, where prices fell in the month for the first time since September 2021, and from furniture and household items, where prices increased less than a year ago.”
2023-10-18 07:18:45
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