The duties promised by Trump, the political tensions in France, the surge in the spread between Oats and Bunds, the rising US inflation, albeit in line with expectations and even the surge in coffee futures prices are the broth in which the European stock exchanges, that show a weak closure, not far from parity.
Business Square loses 0,23%, stopping at 33 thousand basis points, divided between the losses of stm (-2,33%) and the earnings of Ps (+3,15%). The Milan stock market continues to question itself on theoutcome of the banking risk. Yesterday Bpm bank (+1,13%) ha Unicredit's hostile offer rejected (-0,15%) and today the CEO of the Lombard bank, Joseph Chestnut, wrote to employees: "as noted by the board of directors of our bank, (the offer, ed.) does not reflect in any way the profitability and the further potential for value creation for Banco Bpm shareholders". Furthermore, there is the risk that the cost cuts planned by Unicredit will translate into "staff cuts of over 6000 employees".
READ MORE Stock Market Today November 27: Live Today
Paris suffers
La The worst place today is Paris -0,72%, which touched drops of more than 1% during the day following a increasingly uncertain internal political framework, which is reflected in the public accounts by stressing government bonds. On the secondary market, Oat, during the exchanges, they touched one spread with 90-year Bunds of up to XNUMX basis points, highest level in over 12 years.
The political face appears increasingly strained even in the EU: today the Ursula von der Layen's commission bis, collected 370 votes in the Strasbourg parliament, a narrow majority and the worst result, in numerical terms, ever recorded.
In the rest of Europe Frankfurt scores -0,16%, Madrid -0,3% Amsterdam -0,08%. Outside Euroland London it appreciates by 0,21%.
Wall Street Down; Inflation Rises
Wall Street moves mixed, after having updated yesterday for the umpteenth time new highs with the DJ, which is currently flat, while S&P 500 and Nasdaq fall fractionally. In particular, the Nasdaq suffers the weight of mega caps such as Nvidia (-3%) And Microsoft (-0,9%). The New York Stock Exchange is moving sluggishly, on the eve of the Thanksgiving holiday, when it will remain closed, while on Friday it will work half the day.
Among the many macroeconomic data of the day, the most anticipated one concerned theinflation pce of the month of October, which is up although in line with estimates: +0,2% month and +2,3% compared to a year earlier (from 2,1% in September). consumer spending, which accounts for more than two-thirds of U.S. economic activity, rose 0,4% after an upwardly revised 0,6% growth in September, and personal incomes rose by $147,4 billion, or 0,6%, versus the consensus 0,3%.
A picture that doesn't offer much Fed's Holds for More Cuts, especially since yesterday's reading of the minutes of the last meeting revealed the great prudence of the bankers. The US economy remains solid and the next presidency Trump, with the trail of duties and promises that it brings with it, could have further repercussions on the price trend, while even the future of coffee are experiencing high prices like they haven't seen in decades. Arabica futures, on the New York market, updated their highest prices since '97 due to fears about the 2025/2026 harvest after the drought that hit Brazil until last September.
The dollar falls
Il dollar accelerates downward after the US inflation data. The rdollar/yen contribution falls to its lowest level in nearly five weeks, down 0,95% to 151,6. A weakening dollar allows the euro to rise 0,8% to $1,057. The dollar index, which measures the greenback against a basket of currencies including the yen and the euro, is at its lowest since Nov. 13.
Furthermore i Trump's promised tariffs on Canada, Mexico and China, which are the three largest trading partners of the United States, weaken the currencies of the three countries and make investors nervous.
Among the raw materials the oil is in moderate progress, following the ceasefire between Israel and Hezbollah, ahead of Sunday's OPEC+ meeting, which could delay the planned increase in crude production.
Texas crude, January 2025, shows an increase of 0,36% to 69,02 dollars per barrel; Brent, February 2025, rises by 0,22% to 72,48 dollars per barrel.
Piazza Affari, mixed automotive thinking about duties
In Piazza Affari, the car sector stocks are among those that may be more affected by the tariffs of the next American administration. Pirelli reacts with a rise of 1,85%, while stellantis, which confirms the closure of the Mirafiori plant until January 5, loses 0,52% and Iveco 1,02%. The shares of Brembo, which is one of the companies that exports the most from Mexico to the United States, remains at +0,18%.
Sul Ftse Mib among the biggest increases of the day there are Finecobank + 1,85% Campari +1,77% and Saipem +1,13%, the latter boosted by the awarding of a major new offshore contract in Indonesia worth one billion dollars.
Insurance companies are decreasing, such as Generali -2,24% and Unipol -0,35%.
They retreat nexi -0,77% and Leonardo -0,72%.
Spreads down
Italian government bonds were not affected by the sales on French bonds and closed the session in green, with a Spread between 10-year BTPs and Bunds down to 124 basis points. The BTP yield is indicated at 3,4%.
