European stock markets are proceeding mixed in the first session of a week once again full of events. The past one, semi-holiday, was relatively uneventful. Ftse Mib loses 0,15% around 29.400. Similar trend for the other European price lists starting from the German Dax. L'Ifo index on German business confidence it grew in November but slightly less than forecast at 87,3 (estimates indicated 87,5) from the value of 86,9 in October.
Futures in red on Wall Street. Oil and gas falling
To influence the stock markets, including the US market futures in the red, paradoxically there are some data that confirm the drop in inflation. Oil - Brent and WTI – is down by -1,5% on the eve of the OPEC summit on November 30th in Vienna. Also the gas has been traveling at lows since February 2021. Instead, thegold on the rise to 2.013 dollars at the highest level since May, another sign of a significant drop in yields.
Even the data arriving from overseas on consumer attitudes over the Thanksgiving weekend do not suggest a euphoric outlook. Purchases during Black Friday they have indeed reached record figures, but only thanks to the use of the "buy now pay later" mechanism, which recorded an increase of 72% compared to the week before Thanksgiving. The data on purchases in stores is less brilliant, +1,1% according to Mastercard Spending pulse statistics.
Treasury Notes, Bunds and BTPs moved little
Government bond market little moved. Ten-year Treasury Notes at 4,47%. European governments: Bund at 2,61%. BTP at 4,33%. At 17.30pm the US Treasury is auctioning 54 billion dollars of two-year bonds. At 19.00 pm the second auction of the day is on the agenda, the one for 55 billion dollars of five-year Treasuries.
Amplifon in the spotlight at Piazza Affari
In Piazza Affari, Amplifon +2,9% stands out ahead of Erg, rewarded after an industrial agreement with Stm. MPS's rise deflates at the end of the morning in negative territory after the Milan Court of Appeal postponed until December XNUMXth the sentence of the second degree trial in which the former managers Fabrizio Viola and Alessandro Profumo are accused.
Industrialists from Leonardo to Stellantis are also in the red, down around 1 percent.
Worth noting are the brokers' opinions on various blue chips:
- Eni. Morgan Stanley initiates coverage with an Attractive/Equalweight rating and a target price of $16,4
- generals. Barclays raises the target price to 19,5 euros
- Intesa Sanpaolo. Jefferies raises the target price to 3,90 euros
Attention has already shifted to the European trend awaiting theChristine Lagarde audition.
