La fall of the Assad regime in Syria and its consequences on the political geography of the Middle East and on the Russia-Ukraine war (Putin was one of the main sponsors of the Syrian regime), are the backdrop today to a session of the financial markets without a precise direction. closure in Europe is opposed, at the start of an eighth that will revolve around the monetary policy meeting of the ECB on December 12, which is expected to bring another 25 basis point interest rate cut. Overseas, Wall Street is taking a breather after recent records.
European session, with Paris at the top and Milan at the bottom
Among the main price lists of the Old Continent stands out today Paris, with a growth of 0,75%, on expectations of the formation of a new government. Luxury stocks contributed to giving a boost to the Cac 40, after China decided to change course on monetary policy in 2025, for the first time in 14 years. Beijing announced a proactive fiscal policy and a “moderately flexible” monetary policy, providing additional support to oil prices, which are running. Stocks in the sector consequently performed well.
Milan is on the opposite side to Paris and is losing 0,55%. The big names also lead the FTse Mib, but utilities and industrial stocks are retreating, while banks are contrasting, although the game between Bpm bank (+ 2,24%) and Unicredit (-1,25%), after that Crédit Agricole has subscribed derivative contracts relating to 5,2% of Piazza Meda, potentially bringing its stake to 15% and asking the authorities for approval to get close to 20%. A move that could induce Andrea Orcel to relaunch the takeover bid, while Equita considers a counter-offer on Banco Bpm by the French highly unlikely.
In the rest of Europe it retreats Madrid -0,55%, it's flat Frankfurt -0,04%, they go up Amsterdam + 0,34% London + 0,5%.
Wall Street Weak With Nvidia
Wall Street moves weakly after the first hours of trading and in a day poor in macro data, which will instead arrive on Wednesday and Thursday, updating the trend of consumer and producer prices and providing new indications in key fed. The US central bank will meet next week and a further rate cut of a quarter of a point is also expected.
Among the most important stocks, it falls back Nvidia, -3,23%, after Chinese authorities announced the opening of an investigation into the US technology company for possible violations of the country's anti-monopoly law. In particular, the investigations focus on the acquisition of the company Mellanox, as reported by CNBC. In addition, the entire semiconductor sector is under pressure in anticipation of President-elect Donald Trump and after the Biden administration announced a new series of restrictions on the sale of US chips to China last week, fueling new tensions between the two countries.
Dollar down; oil up
Il dollar is experiencing a volatile and slightly declining session, with theeuro which is currently up 0,2% against the greenback for a rate of 1,059.
Among the raw materials, the accelerator is being pushed Petroleum, driven by hopes for demand following Chinese stimulus, while on the supply side, the chaos in the Middle East is being looked at. At the moment, the January WTI future is up 2,08% at $68,60 per barrel. The February 2025 Brent future is up 1,76% at $72,37 per barrel.
THEgold is in profit, with the geopolitical climate suggesting opening an umbrella: spot gold is trading up 1,36% at 2668,74 dollars an ounce.
On the contrary the bitcoin retreats and is trading at $97.800 today.
Piazza Affari, Eni stock appreciates despite Calenzano explosion
Oil stocks are in evidence in Piazza Affari and are also timidly appreciating Eni, +0,55%, despite the bad news from Calenzano, near Florence, where there was an explosion in a warehouse of the six-legged dog, which has so far seen the tragic consequence of 2 deaths, three missing and 9 injured.
In the sector it shines with more intensity Tenaris +2,24%, promoted by Jefferies to 'buy' with a target price revised upwards to 22 euros per share.
At the top of the list are the big names: Moncler +3,15% and cucinelli +2,01% and among the mid caps it stands out Ferragamo + 6,7%.
Among the blue chips that are still going strong today, the following stand out: stellantis + 1,53% Amplifon + 1,4% Telecom + 1,17%.
The list of the most significant declines opens with Leonardo -4,77%, followed by Prysmian -4,19% Iveco -3,26%. The utilities in the deepest red are Hera -1,59% and Italgas -1,35%.
Spreads down
Eurozone government bonds maintain a good tone at the start of the week and so do BTPs. Italian decennial sees the spread with the German counterpart fall further to 107 basis points and rates are indicated at closing at 3,19% and 2,12% respectively.
It also improves the climate on the French paper, with the spread today at 75 basis points and the yield of theOat 2,87-year at XNUMX%.
