Economic activity in Europe, judging by the trend of PMI indices, goes better than expected by research institutes. L'Eurostoxx index it has risen to its highest since August 19, but the markets, awaiting the indications of the Fed minutes to be released tonight, are also focusing on the numerous games on the energy front.
Stock exchange stable in the middle of the day, sales on Enel and A2A
Business Square -0,15% pays a price for analysts' disappointment with major utility plans. Sales continue on Enel -1,8% but right from the start the most hit target was A2A -3,2% (but also -5% at the opening). The 2030 plan favors dividends but investments are slowing down.
The energy giants are running in Europe waiting for the cap on Russian oil
The race for mining and energy stocks continues, The index of City +0,6%, the most exposed to raw materials marks the highest since September thanks to the push of the raw materials giants: Glencore + 4,5% BP +2%. In Milan it shines Saipem +5,5% positive Eni.
The G7 is expected to announce soon the price cap on exports of Russian crude and will probably change the level a few times a year rather than monthly. This was announced yesterday by a senior US Treasury official. The G7, which includes the United States, the European Union and Australia, are expected to apply the cap on Russian oil exports by sea on December 5, as part of sanctions aimed at punishing Moscow for encroaching on Ukraine.
Salt on Petroleum +1%. More lively the gas European natural +8% at 130 euros per mWh. The EU Commission has proposed a price cap of 275 euros per MWh on one-month derivatives on the Amsterdam TTF exchange. For the mechanism to be activated, this limit must be exceeded for at least two weeks. The extraordinary meeting of EU energy ministers is scheduled for tomorrow in which the Commission's proposals will be discussed.
Well the Btp, spread in downhill
S&P has published its preliminary estimate for the month of NovemberEurozone Manufacturing PMI which came in at 47,3 points, above expectations of 46 points and above the previous October figure of 46,4 points. The PMI Services index remained unchanged at 48,6 points, above the estimates of 48 points. L'composite PMI index it rose to 47,8 points, above forecasts of 47 points and up from 47,3 points in October.
Negative parties, i BTP they wiped out the losses and turned positive, with a better performance than the German paper, after the diffusion of the PMI indices. The Italian 3,87-year yield falls to 3,94% from 190%. The spread slips below XNUMX points.
Crédit Suisse collapses again
The new landslide of the Swiss credit -4,6%. Down in Paris Kering -0,7%: there is talk of the forthcoming release of Gucci creative director Alessandro Di Michele. The titles of the car are also in red: stellantis e Pirelli both -1.2%. Volkswagen has signed an agreement with the unions provides for increases of 8,5%.
The last session of Wall Street before closing for Thanksgiving it should open with indices around par. The Nasdaq future is flat. At 14.30 October durable goods orders, new jobless claims and the S&P house price index come out.
The highlight of the day is at 20, with the publication of the minutes of the meeting Federal Reserve of early November.
