A green Wave hit today theEuropean equity and bond markets, while the speculative appeal continues to target the bitcoin, which deals in excess of one hundred thousand dollars.
Instead, the star of is fading in these hours Wall Street, which at midday appears slightly down after closing yesterday for the third consecutive record session. The cost of money is a topic to which investors are always very sensitive and, in light of a stronger-than-expected US economy, yesterday the chairman of the Fed Jerome Powell He may have disappointed some by saying that the central bank can afford to be a little more cautious on rate cuts. We now await the employment report due out tomorrow.
READ MORE Stock Market Today December 5: Live Today
Piazza Affari queen in Europe
I European lists archive the Milan's towing exchanges (+ 1,59%) and Madrid (+1,58%), particularly buoyant thanks to purchases in banks. On the Ftse Mib in particular, it stands out Unicredit +5%.
Salt in fractional measure Paris, +0,37%, with the market seeming to have digested it for now the end of the Barnier government, waiting for Emmanuel Macron to address the nation at 20 pm. It is possible that the president will already announce the new prime minister in the evening, even if the situation seems very tangled.
In French stocks it is in evidence Amundi (+4,17%) following rumours reported yesterday by Bloomberg, of ongoing negotiations with Allianz to take over its asset management division Allianz Global Investors.
Good Frankfurt, with an increase of 0,82%, while London is trailing with a gain of 0,16%.
Spreads down in Euroland
As next week's ECB meeting approaches, which is expected to cut rates by another 0,25%, theEuroland Bonds Close Positive Session, with the spread with the German Bund falling.
In particular the Ten-year BTP sees spread collapse at 109 basis points (-5,92%) and the rate and yield falls to 3,2%, while that of the German bond rises to 2,11%.
Even the French 10th anniversary is relaxing, following the tensions that developed following the government's holding. The spread between Oat and Bund in fact it falls to 78 basis points (during the week it reached 88 points) and the rate of the French bond closes at 2,9%.
According to Equita, the spreads with the Bund of Italian and French bonds could get closer in the coming months: "Considering the greater presence of institutional investors in French government bonds compared to Italy as well as the greater political and economic stability of Italy compared to France".
But today a blow has arrived for Italian economic growth new cold shower from Istat. GDP estimates drop to 0,5% for 2024 (it was 1% in the June forecast) and to 0,8% for 2025 (it was 1,1%).
Piazza Affari, over 34.600 points with Unicredit
The main list of Piazza Affari accelerated in the afternoon reaching 34.626 basis points, with the purchases on Unicredit, which closes at the top of the list. The market evidently believes in the strategy of CEO Andrea Orcel, who yesterday in a “closed-door” call reserved for Bank of America clients, explained that in order to possibly evaluate a relaunch of the takeover bid on Bpm bank (+2,69%), the bank in Piazza Gae Aulenti expects to examine the end-of-year results of Piazza Meda (expected in February 2025), as well as the outcome of the takeover bid launched by the latter on Anima (+0,94%, 6,41 euros). The latter's stock, however, is moving above the purchase offer price (6,2 euros per share) launched by Banco Bpm at the beginning of November, prompting operators to ask themselves many questions.
The big movements in the banking sector continue to keep attention high even on Bper +4,52% and Popular of Sondrio +2,09%. They also posted another session in the money Understanding +2,26% and Finecobank + 2,66%.
Among the biggest purchases of the day today returns Telecom, +4,45%, which looks to the green light of theantitrust on the mega-merger between Vodafone and Three Uk and the partnership signed by Iliad on Data Centers. Furthermore Deutsche Bank, in an industry study, predicted rising investor satisfaction in telecommunications in 2025 and restarted coverage on the stock with 'hold'.
It is confirmed on the shields stellantis (+3,79%) which, after the crash following the departure of CEO Carlo Tavares, has now largely recovered its losses, also helped by the fact that CFO Doug Ostermann yesterday 2024 guidance confirmed.
The list of big caps in decline opens with Prysmian -0,86%, followed by Recordati -0,68% cucinelli -0,52% Ferrari -0,33%.
Oil Weak, But OPEC+ Maintains Cuts
Il Petroleum is currently moving modestly lower, after OPEC+ decided to extend voluntary production cuts of 2025 million barrels until the end of March 2,2, with the aim of supporting prices.
Texas crude, for January 2025 delivery, lost 0,32% and traded at $68,30 a barrel; Brent futures, February 2025, lost 0,3%, to a price of $72,09.
It also fogs up slightlyspot gold, which gives up 0,34% to a price around 2641 dollars an ounce.
Yesterday the number one of the Fed has compared bitcoin to precious metal: people use digital currency as a speculative asset – Powell clarified – it is like gold, except that it is virtual, digital. “People do not use it as a method of payment or a store of value. It is highly volatile. It is not competing with the dollar, but with gold”.
Il Meanwhile, bitcoin continues its crazy run, which gained speed with Donald Trump's victory in the presidential elections on November 5. When the cryptocurrency broke through the one hundred thousand dollar ceiling, the next US president commented: "You're welcome!!!! Together we will make America great again".
To give a further boost to the bitcoin and all digital currencies and the appointment of the SEC yesterday also contributed to the stocks of companies in the sector Paul Atkins, cryptocurrency fans.
On the currency market theeuro moves in tune also today against the dollar, in the 1,057 area.
OnFed action, in a couple of weeks, we will be able to reflect further tomorrow with the report on employment, today in the meantime the weekly requests for unemployment benefits were higher than expected and the market continues to bet mostly that Powell will also cut the cost of money by another 25 basis points. According to the FedWatch of the Cme Group, there is now in fact a 70,3% chance (against 78,1% yesterday) that the Fed will opt for this choice.
