Third session of decline for European stock markets, which closed today just short of parity without finding much cause for optimism in the improvement of the consumer confidence, which rose in October by 0,4% in the Eurozone and by 0,5% in the EU, while the President of the ECB Christine Lagarde says that "we will have to remain cautious on rates". Central Bank of Canada Instead, it decided to make a nice 50 basis point cut in these hours, with the aim of stimulating the economy.
The mixed quarterly results and the negative trend of wall street, pressured by continued rises in bond yields and the dollar ahead of the November 5 presidential election.
business square, after several changes in direction, it closed with a loss of 0,14%. On the Ftse MIb it moved in a counter-trend Stellantis +3%, in a well-bought automotive sector at a continental level in the wake of the quarterly report and the upward revision of targets by General Motors. The Italian-French company's stock is coming off a period to forget, considering that in six months it has lost about 45%.
In the rest of Europe Paris retreats by 0,5% e see L'Oreal (-2,63%) in black, after a slowdown in sales in the third quarter due to the drop in Chinese demand.
Frankfurt marks a decrease of 0,28%, with Deutsche bank which gives up 1,13% after not entirely convincing numbers that have infected the banking sector at European level. London scores -0,59%, Amsterdam -0,82%. The only positive note comes from Madrid .
Wall Street weak
Wall Street moves weak at midday, while the sell-off in bonds continues, resulting in higher yields.
The trigger for this movement, which goes hand in hand with the strengthening of the dollar, is the expectation that the Fed will be prudent to cut the cost of money in the next meetings, in light of a more resilient economy than hoped. An answer in this sense could come shortly from the Beige Book of the Federal Reserve.
Some observers also point out that market bets are now in favor of a victory for Donald Trump in the next elections. elezioni prezidenziali, with the risk that the Tycoon's return to the White House will translate into greater public debt and new duties.
On the quarterly front, today they published their accounts Boeing (which limits losses to 0,43%, despite the worst quarterly loss since 2020) and Coca-Cola (-2,49%). The worst stock on the Dow Jones is however McDonalds -6%, after the agency of the US Department of Health identified the Quarter Pounder sandwich (known in Italy as McRoyal Deluxe) as the cause of the spread of the gastrointestinal bacterium Escherichia Coli in some areas of the United States; a bacillus that would have caused dozens of hospitalizations and one death in 10 states of the country. With the markets closed, the accounts of Tesla (-0,94%).
Gold above $2750, then retreats
In a world already on fire, the geopolitical situation worsens today with a terrorist attack against the headquarters of the aerospace industry in Ankara, the Turkish capital.
In this context, full of uncertainties, the has had a good game updating a record every day. And today was no exception, so much so that spot gold touched the stellar figure of 2758,51 dollars an ounce, and then fell from that peak. The immediate delivery ingot is currently trading at 2716,61 dollars an ounce, with a drop of more than 1%.
The futures of the Petroleum, also weighed down by the fact that inventories in the United States have grown more than expected. Wti is priced at 70,78 dollars a barrel (-1,34%); Brent at 74,94 dollars a barrel (-1,45%).
On the currency market the dollar is still moving at three-month highs and is putting the yen under pressure in particular, for an exchange rate above 153. Theeuro falls back to 1,0775.
Piazza Affari, Stellantis, Stm and Hera on the podium
In Piazza Affari, the podium today goes to Stellantis, in a positive auto sector that also sees Ferrari (+0,68%) in a good position.
The silver medal of the day goes to stm, +1,82%, boosted along with other technology stocks by the results and indications announced yesterday evening by Texas Instruments.
Third step for Hera, +1,39%, rewarded after the Co₂ capture projectIn partnership with Saipem (-1,79%). The project was in fact selected to receive almost 24 million euros in funding from the EU Innovation Fund.
The red is on today for Telecom Italy, -2,41%, alarmed by the news of searches by the Guardia di Finanza in the office of a manager of the group due to the hypothesis of corruption between private individuals.
Banks have recorded a negative session, starting from Ps -3,2% Bper -1,92% Popular of Sondrio -1,21% Intesa Sanpaolo -1,2%. From the explanatory report of the maneuver, the government expects to collect approximately 5,4 billion euros in the next three years from banks and insurance companies.
Spreads down
It's coming down today spread between ten-year BTPs and Bunds of the same duration. Near the closing, the differential is indicated at 121 basis points, with rates at 3,52% and 2,31% respectively.
