Le European stock exchanges close the week without any momentum, while all the eyes are focused on Federal ReserveThe rate decision is scheduled for Wednesday, and the market now seems convinced of a cut, with a minimal probability of a more drastic intervention. This climate of expectation is weighing somewhat on trading, but it does not stop the push for Milan, where the Ftse Mib closes above parity (+0,32%), thanks to a new sprint of Ps e Mediobanca, which confirm themselves as protagonists while Stellantis takes a step back after the previous day's run and the general weakness of the automotive sector also affects Ferrari.
The Paris remains waiting, with Fitch ready to review the rating French sovereign after the recent political turmoil and the change of government. But it's not just politics: the luxury market is capturing attention after the news of the Giorgio Armani's will, which includes the sale of a 15% stake in his company to LVMH and other major companies, with the prospect of a listing in the coming years.
In the United States, Wall Street is showing signs of fatigue after the record highs of the previous days. Slightly above-expected inflation data and a less buoyant than expected labor market are strengthening investors' conviction: the Fed's rate cut now seems virtually certain. And while U.S. traders ponder these numbers, the continues his racetowards new historical highs, supported by expectations of a lower cost of money.
On the currency front, theeuro remains solid on the dollar. The Petroleum Brent and WTI are recovering ground, while gas natural continues to rise.
READ MORE Stock markets are euphoric as they await the Fed. Technology continues to dominate from Wall Street to Asia. by G. Bruschi
