Today marks the beginning of a thrilling week for the Bags and not because of the Halloween pumpkins, but the imminent release of a avalanche of macroeconomic data and quarterly reports that could influence market sentiment. The upcoming turmoil could be positive, at least judging from today's session. European stock markets are in fact recording rising trades and Wall Street It started off on the right foot, waiting for 5 Big Tech Companies of the “Magnificent Seven” (Alphabet, Microsoft, Meta, Amazon and Apple) show their nine-month earnings in the next few days. Nasdaq It is currently in the all-time high area.
The fading of fears of an escalation in Middle East on the one hand it is heartening, on the other it weighs on Petroleum Brent and WTI futures are moving down almost 6%.
Finally, a new shocking news from the automotive sector comes from Germany: Volkswagen (-0,87% in Frankfurt) would plan to close at least three factories in the country, to lay off tens of thousands of workers and permanently reduce plant capacity as part of a more in-depth restructuring plan than expected, which includes a 10% pay cut and a wage freeze for the next two years, the factory council of the four-wheeler giant says.
Piazza Affari over 35 thousand basis points
In this context Business Square closes with a progress of 0,69% and exceeds 35 thousand basis points again thanks to Diasorin +2,5% and banks, but sees some oil and auto stocks in the red.
The picture is similar in other squares: Paris + 0,79% London + 0,49% Frankfurt + 0,44% Madrid + 0,92%. Amsterdam is slightly down -0,22%.
Yen hits three-month low
In the currency market the focus is on yen, after the elections that saw the government coalition weaken. The prime minister Shigeru Ishiba He promised to stay, saying that difficult economic and geopolitical times require continuity, but it looks like a time of greater uncertainty and the BoJ is unlikely to continue raising rates, so Wednesday's meeting now looks washed out.
In this perspective the dollar strengthened against the Japanese currency to 153,88 (a three-month low for the yen), a trend that supported a solid rise in the index Nikkei (+2,01%) in Tokyo.
Also 'euro strengthens against the yen and gains some ground against the dollar as well, for a cross around 1,08.
Among raw materials, oil is falling without brakes: the wtf is currently trading below $68 a barrel and the Brent is just over $71,6.
The appetite for thegold, which still remains at very high levels, for a price for immediate delivery of 2741 dollars an ounce.
Sales are back on T Bonds, ahead of the 2- and 5-year auctions in the coming hours, as the November 5 election showdown approaches. The Federal Reserve also meets on November 7, and investors will have to contend with the employment report (November XNUMX) and the PCE inflation figure before these crucial dates.
The eurozone will also release a raft of key macro data on Wednesday, including third-quarter GDP, consumer confidence and economic sentiment. Britain will also announce the governing Labour Party’s first annual budget on Wednesday.
Biggest increases and decreases in Milan
Piazza Affari closed a volatile session, but found its way to increases in the afternoon.
Diasorin is at the top of the list, but the ones that gave the FTSE Mib a boost were mainly the banks. The biggest increases were for Popular of Sondrio +2,11% (and the shareholder Unipol +1,65%), Bpm bank + 1,71% Unicredit + 1,41% Understanding + 1,3% Finecobank +1,7%. The queen of digital payments is doing well, nexi + 1,43%.
In the industry it shines Leonardo +1,29%. It stands out among utilities Hera + 1,55%.
The short list of declining blue chips opens with Iveco -2,74%, they follow Eni -1,62% Telecom -0,46% Pirelli -0,27%, Moncler -0,11% Saipem -0,05%.
Spread down after Dbrs
Lo spread between ten-year BTPs and Bunds is slightly down at 120 basis points (the BTP yield is at 3,49%) after Friday Dbrs confirmed the rating on Italy and improved the outlook, as Fitch had already done the week before. The Canadian agency labeled the Belpaese with BBB (high), a step immediately preceding the A, which distinguishes safe issuers. On the political front, the counting of the votes that will decide the new president of Liguria is underway and the head-to-head between the candidates has not weighed particularly on the Italian card.
