Oil and Luxury Goods Lead Piazza Affari to Positive Territory

Finance

Of Chiara Di Cristofaro e Martina Soligo

Oil and luxury goods rise in Piazza Affari. Tokyo closes positive with purchases that focus on technology in the wake of the acceleration of US stock indices

2′ reading

(Il Sole 24 Ore Radiocor) – Things start off positive again European stock exchanges after the Christmas long weekend and are preparing to celebrate the end of the year with considerable earnings. The European indices follow Wall Street and Asia, which recorded solid gain sessions. The optimism at the end of the year is favored by the consolidation of expectations of a rate cut by the Federal Reserve as early as March, the first among the world’s central banks which should follow it in the reversal of monetary policies, after the accommodative signals shown in the last meeting in December.

They are moving in positive territory FTSE MIB of Milan, the CAC 40 of Paris, the DAX 30of Frankfurt, theAEX of Amsterdam andIBEX 35 in Madrid.

In Milan, oil is doing well with Saipem, banks are down

At Piazza Affari Mediobanca is at the bottom of the main list after the agreement with the unions which provides for 1,000 voluntary exits against 500 new hires, in addition to the stabilization of 200 temporary workers. Banks are generally weak. The purchases reward oil stocks after oil hit one-month highs following attacks on ships in the Red Sea. At the top of the list Saipemgood too Eni e Tenaris. Off the main list, Fincantieri advances after the agreement for the acquisition of 100% of Remazel Engineering from Advanced Technology Industrial Group, with closing expected within the first quarter of 2024.

Spread at lowest since June

Starting on unchanged levels for the spread BTp/Bund which is confirmed at the lows since last June reached on Friday. In the early stages, the yield differential between the benchmark ten-year BTp (Isin IT0005560948) and the German equivalent maturity stood at 157 basis points, stable on the previous reference. There was also no change in the yield of the ten-year BTp which marked a first position at 3.54%: the same level reached at last Friday’s closing, at the lowest levels since August 2022.

Weak dollar, mixed oil, gas rises

On the currency, the dollar remains weak and near four-month lows against the euro, trading at 1.1043 against the greenback. The yen remained stable against the dollar in a context of broad volatility, at a level of 142.81, and against the euro at 157.7. On the energy front, oil is mixed after the highs of the last month marked after the attacks on ships in the Red Sea and while the war between Israel and Hamas continues and could last for months, according to Israeli statements. The Brent February trades around 81 dollars a barrel, while the Wti of the same maturity stands above 75 dollars. Gas rising in Amsterdam to more than 36 euros per megawatt hour.

Tokyo on the rise driven by technology

The Tokyo Stock Exchange concludes trading with a sustained rise, with purchases focusing on technology, in the wake of the acceleration of US stock indices. The Nikkei reference list recorded an increase of 1.13% to 33,681.24 and an increase of 375 points. The Hong Kong Stock Exchange is also on the rise after closing for the Christmas holidays, with the Hang Seng index gaining 0.74% in early trading, rising by 121.48 points to 16,461.89. The Shanghai Business Center Composite rose 0.10% at the opening, while that of Shenzhen gained 0.06%.

• Chiara Di Cristofaro

  Radiocor editor

View on ilsole24ore.com
2023-12-27 08:15:00
#Stock #markets #Europe #restarts #positive #Christmas #Saipem #shines #Milan