MILANO – The belief that the season of rate increases is coming to an end is strengthening in the markets. Valuable indications will arrive tomorrow and Thursday from the Fed and ECB meetings from which, however, analysts certainly do not expect new upward adjustments. European stock markets remain on a cautious rise even after the US inflation data, which slows down but only marginally (from 3.2% per year to 3.1%) and does not convince Wall Street. Asia ends on a cautious rise. Tokyo closing at +0.16%: with purchases on technology and the Bank of Japan’s doveish prospects.
16:08
European stock markets continue without shocks: flat price lists
European stock markets moved little after the American inflation data in line with expectations, which will contribute to the Fed’s choice on rates tomorrow. On Thursday it will then be the turn of the Bank of England and the ECB. US futures are only slightly positive and with them London (+0.15%), Paris (+0.11%) and Frankfurt (+0.02%). In Milan (+0.05%) profit-taking continues on MPS (-2.26%) after the CEO of Banco BPM (+1.39%) once again ruled out a merger. On the podium with the bank led by Giuseppe Castagna, which toasts the new plan, remain Amplifon (also +1.39%) and Recordati (+0.99%). The spread rose to 179.1 basis points together with the yield on the Italian 10-year bond which exceeded 4%.
16:07
Wall Street down after inflation
Wall Street opens negative. The Dow Jones lost 0.04% to 36,389.77 points, the Nasdaq dropped 0.15% to 14,410.46 points, while the S&P 500 recorded a decline of 0.27% to 4,610.17 points.
15:00
Europe is little moved by US inflation, Milan +0.05%
European stock markets moved little after the American inflation data in line with expectations, which will contribute to the Fed’s choice on rates tomorrow. On Thursday it will then be the turn of the Bank of England and the ECB. US futures are only slightly positive and with them London (+0.15%), Paris (+0.11%) and Frankfurt (+0.02%) Profit-taking continues in Milan (+0.05%) on Mps (-2.26%) after the CEO of Banco Bpm (+1.39%) once again ruled out a merger. On the podium with the bank led by Giuseppe Castagna, which toasts the new plan, remain Amplifon (also +1.39%) and Recordati (+0.99%). The spread rises to 179.1 basis points together with the yield on the Italian ten-year bond which exceeded 4%
14:44
Wall Street: futures hold (dj +0.3%) even after inflation slightly above expectations
FuturesSlightly higher after the data on consumer prices, which showed inflation slightly higher than expected. Already rising before the data, now the futures on the Dow Jones rise by 0.34%, those on the S&P 500 grow by 0.20%, those on the Nasdaq add 0.33%. In November, consumer prices in the United States increased by 0.1% compared to the previous month, against expectations for an unchanged figure.
13:43
Milan Stock Exchange: continues little movement, +0.01%; ok Bpm, down Tim
The stock market was little moved at the mid-session mark after a rising start along with the other European stock markets. The Ftse Mib index now marks +0.01% at 30,430 points.
However, Piazza Affari is in a positive phase and close to the highest levels of the last 15 years, awaiting the crucial data on US inflation in the afternoon which will guide the Fed’s choices in today’s and tomorrow’s meeting, from which indications on the future easing of the tightening are expected monetary. In the morning, the German Zew index on economic sentiment did well, rising above forecasts.
On the list there is evidence for Banco Bpm which marks a +1.1% after the presentation of the plan to 2026 which envisages growth in profits and dividends, while the CEO Castagna once again denied the possibility of a merger with Monte Paschi, which today loses 1.7%. Among the other banks Bper at -1%, while in the financial sector Fineco lost 1.6%.
Mixed performance among the energy sectors, with Enel +0.4%, Terna +0.9%, A2A -0.9%. Among the other blue chips, Tim down 0.8%, Inwit -1%, Recordati and Amplifon did well.
13:41
Europe is traveling flat awaiting US inflation
European stock markets flattened mid-session as expectations about US inflation grow, with Wall Street expected to be positive. The first clues on the moves of the Fed should come from consumer prices, which will be called tomorrow to give the market details on the next steps in terms of monetary policy. Thursday will then be the turn of the ECB and the Bank of England.
Milan marks a marginal +0.05% with sales on MPS (-1.84%) and Banco BPM still in the lead (+1.99%) in the wake of the 2026 plan while the CEO, Castagna, has closed once again to the hypothesis of M&A with Siena. Amplifon (+1.5%) and Recordati (+1.1%) remain strong. On the opposite front Fineco (-2%) and Tim (-1%). The spread is volatile with the differential between BTPs and Bunds at 178 points and the yield on the Italian 10-year bond approaching 4%. Among the other markets, Paris recorded a +0.04% and Frankfurt a -0.09%, despite the further improvement in the Zew index in December. London is more confident, holding +0.3%. In terms of raw materials, oil weakens (WTI -0.2% to 71.1 dollars, Brent -0.3% to 75.8 dollars). Gas is still below 36 euros (35.6), the price of which drops by 1.4%.
On the exchange rate front, the euro remains higher against the dollar with which it trades at 1.0799
13:40
China stock markets: close higher on Fed expectations, Hong Kong shines
Chinese stock markets closed higher as they benefited from the optimism regarding the Fed’s next monetary policy moves. At the end of the session, the Shanghai composite index recorded a gain of 0.40%, settling at 3,003 points, while the Shenzhen CSI 300 closed up by 0.21% at 3,426 points. However, the stock market indices of mainland China have so far suffered a decline of 12% compared to the values at the beginning of 2023. Brilliant session for the Hong Kong stock exchange where the Hang Seng index ended with an increase of 1.07% per share 16,374 points, partially reducing the decline since the beginning of the year which still stands at 18 percent.
09:15
Europe opens on the rise
Starting with a plus sign for the European stock markets which are looking at US inflation, expected today, but above all at the central banks and the moves for 2024 to reverse interest rate policy. Paris marks a marginal +0.08% with the Cac 40 at 7,557 points. Frankfurt is more convinced (+0.17% with the Dax at 16,823 points) awaiting the Zew index. London is also in line (+0.33%, Ftse 100 at 7,507 points).
08:50
Positive stock markets in Asia
Stock markets in Asia and the Pacific are positive but characterized by caution with markets awaiting inflation in the United States during the day. The consumer price index is expected to be substantially stable.
The spotlight then turns to tomorrow and the Fed’s decision on interest rates which, according to forecasts, should give a clear indication on the tone of US monetary policy in 2024. Tokyo closes marginally (+0.16% the Nikkei) with purchases on technology and the ‘dovish’ prospects of the Bank of Japan. The Chinese markets also showed little movement (Shanghai +0.40%, Shenzhen +0.15%). Both European indices and Wall Street are expected to rise. Among the other macros to monitor is the Zew index which could show a further recovery, even if in a still depressed economic context
08:20
Oil, prices on the rise
Oil prices rising this morning on the raw materials markets: WTI for delivery in January changes hands at 71.86 dollars per barrel with a growth of 0.76% while Brent for delivery in February is traded at 76.54 dollars per barrel with an increase of 0.67%.
2023-12-12 15:16:47
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