La Donald Trump's team is taking shape, but the names that are circulating, such as that of the "hawks" Marco Rubio and Mike Waltz, scare the European markets especially in view of the duties that will hit the Old Continent and China. A series of disappointing quarterly results completes a decidedly negative picture today for continental stock markets which, after yesterday's improvement, closed today's session in deep red in the wake of the sharp falls in Asian stock markets (Hong Kong -2,84%).
Square Business loses 2,14%, weighed down primarily by Mediobanca -8,15%, in check due to lower-than-expected revenues in the quarter and cutting its full-year net interest margin forecast.
Sales in luxury stocks, disappointed by Chinese stimuli and alarmed by the choices of the next US administration, are overwhelming Paris which is the worst place today with a loss of 2,69%.
Things aren't going much better Frankfurt, -2,13%, with Berlin in the midst of a political crisis and the morale of German investors falling in November beyond all expectations (to 7,4 points from 13,1 in October, on estimates of 13 points). The Dax is weighed down by the collapse of Bayer -15,11%, falling to its lowest level in almost twenty years, after having cut operating profit forecast for the whole year.
The losses are heavy at Zurich -1,82% Madrid -1,79% Amsterdam -1,49% and London -1,23%.
Wall Street takes a breather
The climate is different in Wall Street which yesterday hit yet another record and which today is taking a breather by showing fractional drops, after a run that began just under a week ago, following the clear electoral outcome that handed the White House to Trump.
However, nervousness is rising in view of the inflation data, in particular US consumer prices due out tomorrow and which could provide indications on what the Fed will do in its December meeting. Today the market is betting at 65% on a new cut of 25 basis points in next month's meeting, while for 2025 the estimate of new overall cuts of one hundred basis points has gone from 80 points. So the sales on the Fed are back T Bond and they date back to the returns, with the 4,38-year around XNUMX%.
In the stock market, returns are striking Tesla (-2,55%) and other euphoric titles after the presidential elections. Meanwhile, Elon Musk enters the Italian political debate with force, commenting on the government-judiciary report on the detention of migrants in Albania, he writes on X: “These judges must go”.
It's still super dollar
Stay strong dollar, while purchases of other goods that could benefit from a new Trump presidency, such as bitcoin currently down at $86.848 (-1,95%) after almost reaching $90 in the previous session.
THEeuro loses further ground against the greenback and changes down around 1,06.
The dollar is outperforming the yen, bringing the cross to 154,6.
The new golden age promised by Trump to the United States does not help the bullion, weighed down by a very strong dollar. Thus spot gold is also trading today down just below 2600 dollars an ounce.
Il Petroleum It moves without much conviction in progress, awaiting indications on the monthly OPEC data.
Brent is trading around $72 per barrel (+0,24%), while WTI is currently trading at $68,19 (+0,22%).
Piazza Affari below 34 thousand points
Business Square the day's balance is deeply negative and the Ftse Mib breaks the psychological threshold of 34 points to stop at 33.621.
The only blue chips with a plus sign in front are stm + 1,09% Iveco +0,12% and Bper + 0,07%.
The damage count starts from Mediobanca, in a banking sector that is not among the worst even if Understanding leaves 2,45% in the field.
Luxury stocks are still falling sharply, such as cucinelli -4,78% and Moncler -3,51%.
Some stocks that gained yesterday are falling sharply today: Prysmian -5,48% Amplifon -4,24%.
They go down Telecom -3,81% Ferrari -3,37% nexi -3,17% Campari -3,03%.
It couldn't even withstand the shock wave Leonardo -0,39%, a stock that remained in positive territory until almost the end, after the news, given yesterday after the markets closed, of a supply agreement supply agreement signed with Iveco (-0,12%), within the newly formed JV Leonardo-Rheinmetall.
Closes down A2a -2,82%, despite good quarterly results and improved guidance for 2024.
Spread slightly up
Losses do not spare bonds today. spread between Btp and Bund both with a ten-year duration rises to 128 basis points. At the close the rate of the Italian bond is indicated to rise to 3,63%.
