Markets end October on an upbeat note. The index future rises Eurostoxx +0,5%, the Asian price lists go up. Flat instead the derivatives of Wall Street concentrated after the latest gains (+2,5% in the last two weeks) on the next meeting of the Federal Reserve Wednesday, the highlight of the week to which communications from the Bank of England and the Australian central bank on Tuesday. In reality, a change of course for bankers is not expected at the moment. Indeed, Klaas Knot, governor of the Dutch central bank, warned on Sunday that "we are not yet half done", anticipating new hikes, between 50 and 75 points.
Spotlight on inflation, Btp at the top for ten years
Spotlight on data flash on theeurozone inflation in October, which will be announced mid-morning. Today, at Savings Day the governor of the Bank of Italy Ignazio Visco and the chief economist of the ECB Philip Lane will speak. An update of the data is also planned GDP Italy of the third quarter.
Little moved in this picture the exchange euro Dollar, slightly below parity and bond yields: the BTP draft at 4,15% awaiting the first moves of the executive on the manoeuvre. The reference future rose by +5,7% in five sessions, the best result since Mario Draghi's "whatever it takes" in 2012.
Treasury bonds at 4,02%. The US markets are preparing not only for the decision on rates (November 2nd) but also for the mid-term vote on November 8th.
The season of Elon Musk leads Twitter. But the tycoon deleted the tweet that insinuated doubts about the attack on Nancy Pelosi's house.
Brazil ETFs on the rise after the vote
Le Brazilian elections, won on the wire by the challenger Squid on the outgoing president Bolsonaro (50,9% against 49,1%) are the most important news also for the markets. ETFs with underlying stocks from Brazil anticipate an upward start even if the loser threatens not to accept the response at the polls.
The Chinese economy is still holding back, Hong Kong -13% in October
- Still disappointing data on the Chinese economy. L'PMI index elaborated by the national statistics office, it falls in manufacturing to 49,2 in October, from 50,1: the consensus was 49,8. Services down to 48,7 from 50,6: consensus at 50,1.
- The index CSI300, this morning -0,3%, is starting to close October with a drop of -7,5%, -11% the result in dollars. The monthly balance of the Hang Seng is much worse (-13,3%).
- The Chinese currency against the dollar also weakened slightly to 7,27. A phone call was held on Sunday between the secretary of state, Anthony Blinken, and the foreign minister of China, Wang Yi. The heads of diplomacy of their respective countries spoke of the war in Russia, support for Haiti and responsible management of competition, reads Blinken's tweet.
- Positive October for Nikkei (+6,2%, best month of the year) and for Kospi of Seoul (+6%) today up by 1% despite the incredible tragedy of Halloween in Seoul.
- Fly the wheat after Moscow's niet on exports. Chicago wheat futures are up sharply +8% after the Russian decision to suspend the agreement on the delivery of cereals after the Ukrainian attack on four ships in the port of Sevastopol.
- Petroleum down 0,7% at the start of the session from the +2,3% accumulated last week.
Stellantis JV in China failed, Lazard 5% in Snam
- The Chinese jv of stellantis with Gac it failed. Stellantis itself communicates it by announcing that the shareholders of the joint venture have approved a resolution to present an application for bankruptcy proceedings.
- Unicredit estimates, after the changes to the ECB rules on Tltros, an interest margin for 2022, excluding Russia, of 9,7 billion (0,4 of Tltro contribution).
- DiaSorin. BNP Paribas Exane raises rating to Neutral, from Underperform. Target price at 129 euros.
- Tim extended the non-binding memorandum of understanding with CDP Equity, Macquarie, KKR and Open Fiber to 30 November. The exclusivity obligations, however, are no longer valid today.
- Snam. The Services Conference unanimously approved the project for the construction of the regasification terminal off the coast of Ravenna, announced the president of the Emilia Romagna region on Twitter. Shareholder Lazard Asset Management crossed the 5% threshold.
