After a negative week the European stock markets start the week on a positive note, encouraged by the performance of the Asian stock markets. Leading the recovery is Tokyo, where is the Nikkei advances 1,45% and is back close to its all-time highs, driven by the upward revision of the GDP in the second quarter and by expectations for a fiscal stimulus package, arriving with the change of government after the resignation of Prime Minister Ishiba.
In Milan the The FTSE MIB closed up 0,28 points at 41.723., supported by the banks and especially by the exploit (+3,96%) of Banco Bpm. Today MPS' takeover bid for Mediobanca closes, an operation that in recent days has fueled a lot of tension on the financial front.
Campari and Stellnatis are at the bottom. Ferrari drops, penalized by the disappointing Monza GP. the other continental stock markets are moving in positive territory: Paris salt awaiting the decisive vote of confidence for the Bayrou government, Well Frankfurt after the better-than-expected data on German industrial production (+1,3% in July). Also on Madrid and Amsterdam, more timid London. Overseas too Wall Street is progressing in positive territory.
READ MORE Stock markets amid political instability and Fed expectations, oil rises by G. Bruschi
Geopolitical tension remains high, both on the Ukrainian front and in the Middle East, but investors' attention is focused on central banks. Disappointing US employment data strengthens the waiting for a cut Fed interest rate hikes at its meeting on September 16-17, while for the ECB – expected on Thursday 11 – the consensus remains at nothing.
On the raw materials front, spotlight on oil after OPEC+ decision to increase production Since October, the price has risen by 137 barrels per day: Brent crude rises to $66,67 (+1,7%) and WTI crude to $62,99 (+1,81%). Spot gold has hit new highs, surpassing $3.600 an ounce, while European gas expiring in October has gained 1,22% in Amsterdam.
Lo BTP-Bund spread narrows to 85 basis points, with the yield on the Italian 3,49-year bond slightly down to XNUMX%.euro remains above 1,17 against the dollar.
