Oil trades on the markets at a 20 percent discount on September prices, a price also justified by the high levels of US inventories (11,9 million barrels). Good news also from the gas front: the level of storage is at “about 99%” said the CEO of Snam, Stefano Venier, during the conference call with analysts on the accounts. The slots of the Piombino regasification terminal are full for the 2023/2024 thermal season, while the auctions for the second Ravenna ship will be launched in the coming weeks. And the European stock markets take this into account.
Oil falling, T-Bond, BTP and Bund yields down
Meanwhile, despite some difficulties, the US Treasury raises 24 billion dollars at the auction of ten-year bonds at falling rates: yields are at their lowest since September, both in the USA (4,52-year Treasury Note at 2,64%) and in Europe. Bunds slipped to 4,50%, Italian ten-year bonds to 186%. Spread at 12 basis points. The 3,9-month BOT auction also closed with yields below XNUMX%.
Latest stock market news: the markets challenge Pwell and Lagarde
It is not surprising in the face of these numbers that the stock markets have decided to challenge the policy of central banks determined to keep the bar on rates high to avoid a new flare-up of inflation. It is almost a given that both Fed President Jerome Powell and Christine Lagarde will try to pour water on the fire today, but it will not be easy to curb the Bull's exuberance.
The markets, after a cautious start, thus took the upward path: Milan +0,60% at 28.600 points, it takes courage also because the penalty line is losing some pieces: the governor of the Bank of France and member of the Governing Council François Villeroy de Galhau went so far as to say this morning that the ECB's increases are now over.
Stock markets in sight: quarterly headlines doing well in Piazza Affari, triumphant march for Nexi
In Piazza Affari, many stocks react in this way to the quarterly accounts just published or in the process of being published. Lead the race Nexi +9% (afterwards it aims for +11%), already sacrificed by the alarm following Wordline's quarterly report. The company courted by private individuals confirms its guidance for 2023. On the Amsterdam stock exchange, Adyen, a competitor company, is rising by almost +30%.
It also takes courage Tim +1% who presented data for the quarter above expectations thanks to the boost from domestic activities.
Among the banks shines BPER Banca +3,5% which recorded profits above expectations in the quarter and strengthened its guidance for the year thanks also to the increase in the commercial spread resulting from the favorable interest rate environment. Finecobank and Banco Bpm also rose sharply -
Utilities are declining: Hera -1%, Terna -0,4%. Leonardo is also slowing down -0,6% on the eve of the quarterly report.
On Wall Street, Disney is ready to pounce. Microsoft close to all-time high
On Wall Street, the indices are attempting to climb to their tenth consecutive rise. It can be a good omenagreement between the studios and the actors' union after the long strike that paralyzed Hollywood.
Disney advances 3% in the pre-opening. The entertainment giant ended the quarter with a profit of 82 cents per share, compared to a forecast of 71 cents per share. Net sales rose 5% year-on-year to $21,24 billion, but missed experts' forecasts ($21,41 billion).
Sitti the push of Artificial Intelligence Microsoft it reached its ninth consecutive session of rise yesterday at 363 dollars, just three dollars less than the historic high reached in July. At this price, the capitalization is close to 2.700 billion dollars, only 144 less than Apple.
Gold down to $1.945 an ounce.
Bitcoin +3,5% to $36.800, at the highest since May 2022, always on the expectations of a green light for the launch of ETFs with bitcoin underlying.
