A series of data on the sector manufacturing will likely capture the attention of markets today and help to shape the interest rate outlook, while the euro is stuck near its 13-month low, bitcoin remains near $100.000 in view of more favorable regulations in the United States and their is on track to post its biggest weekly gain in nearly eight months.
The markets are watching with apprehension the evolution of the war situation between Russia and Ukraine and they look for safe investments. The Russia, which has lowered the threshold for the use of nuclear weapons, responded overnight to the US and UK’s decision to allow Kiev to strike Russian territory with Western weapons by launching an intermediate-range hypersonic missile at Ukraine’s Dnipro. “These weapons typically carry nuclear warheads,” analysts at Anz Bank said, noting that the attack had sent oil prices soaring. “The trade signals that the war has entered a new phase, raising concerns about supply disruptions.”
Investors are looking for the safe ports, supporting the German debt and carrying the Swiss franc toward its first weekly gain in two months. Escalation risk also pushed the gas prices in Europe at the highest level in recent years. Crude oil futures Brent rose nearly 4,5% on the week and hit a two-week high of $74,44 a barrel in Asian trade. Gold remained steady at $2.677 an ounce, up more than 4,5% on the week
The euro has been trading on and off for seven of the last eight weeks at $1,0469, close to breaking support at last year's low of $1,0448, as Europe grapples with U.S. tariffs, slowing growth, a German government crisis and tensions within the French government over its 2025 budget.
Wall Street Rises, Nvidia and AI Confidence Returns
Wall Street's major indexes closed higher after mixed trading, with the Dow Jones and S&P 500 hitting one-week highs.Indexes up: Dow 1,06%, S&P 0,53%, Nasdaq 0,03%. Shares of Wall Street's largest company, Nvidia added 0,5% after faltering a bit after the quarterly results were released. Investors are apparently feeling a little better about the results now, as some investors' sky-high expectations may not have been met, but underneath it all seems to be going well as demand remains strong for the company's AI chips. Noteworthy A which fell 4,7% to a four-week low after the Justice Department argued before a judge that Google must sell its Chrome browser and take other steps to end its monopoly on online search. Amazon.com fell 2,2% after a report said the company would most likely face an EU investigation next year into whether it favors own-brand products on its online marketplace. In the red Boeing, which shows a marked decrease of 1,83%.
The U.S. Securities and Exchange Commission (SEC), the federal agency that oversees the stock market, announced that its 33rd chairman, Gary Gensler, will leave office on January 20, 2025, when Trump takes office. Gensler, appointed by President Joe Biden, began his term on April 17, 2021, immediately after the GameStop market events
Tech Sector Improves in Asia After Nvidia
The climate is calm on Nvidia also brought support to the chip makers in Asia: On the Taiwan stock exchange, the Taipei TAIEX index gained nearly 2%, with heavyweight Taiwan Semiconductor Manufacturing up 2,5%. The weekly balance of Taiwan stocks is positive: +1%.
The Nikkei index of Tokyo is up 0,7%, -0,8% on the week. Data in Japan showed that inflation The bottom line has held above the central bank's 2% target in October, keeping pressure on for a rate hike. Markets are pricing in about a 57% chance of a 25-basis-point Bank of Japan rate hike in December, and the outlook has injected some volatility and even support for the yen. Consumer prices excluding fresh foods rose 2,3% in October year-on-year, from 2,4% in September, above the consensus of 2,2%. The index that excludes energy costs and fresh food prices rose 2,3% from 2,1%.
The Hang Seng index of Hong Kong loses 1,4%, -0,5% for the week. CSI 300 of the stock markets Shanghai and Shenzhen -1,5%, -1% for the week. Hua Hong Semiconductor gains 11% in Shanghai after Reuters reported that the Chinese company is collaborating with the European STMicroelectronics for chip production. Xiaomi +6%: the header Caijing reported that the company is planning to launch its second electric vehicle model next year.
The S&P/ASX 200 Index Sidney closed up 0,8%, +1,3% for the week. Kospi South Korea's +0,8%, +3,4% week. BSE Sensex Mumbai, +0,7%. In India, shares of Adani Group companies slipped for a second day and their dollar-denominated bonds remained under pressure after US prosecutors indicted billionaire founder Gautam Adani on fraud charges.
European stocks seen opening higher. PMI awaited
European stock markets are expected to open higher on the basis of indications from Eurostoxx 600 futures at +0,25%, awaiting the indices Manufacturing and services SMEs in the Eurozone and in the USA.
Fincantieri would have been included in the shortlist for an order of light frigates worth over 3 billion euros by the Norwegian Ministry of Defense. Final decision in 2025
Eni, immediately an extra-coupon in the UK from Ithaca Energy. From the business combination of Ithaca Energy extraordinary dividend of 200 million. In total in 2024 the new aggregate company will distribute 500 million dollars to shareholders: over 190 million will go to the Italian group. Accounts down in the 9 months due to the drop in prices, but objectives confirmed.
Prysmian successfully places 1,5 billion bonds. Orders exceeded supply by 5 times
StellantisRam brand boss Chris Feuell said the automaker is open to revisiting plans to move production to lower-cost countries like Mexico if U.S. President-elect Donald Trump imposes new tariffs on the sector, Bloomberg reports.
Tim will invest approximately 130 million euros to build a new state-of-the-art data center near Rome.
Technogym. President Nerio Alessandri spoke of a good trend in orders for the final part of the year, which he expects to close in line with the objectives defined in the plan. Alessandri also added that he does not expect any impact from any protectionist measures by the new American administration, because the sector should not be included in the perimeter of any tariffs.
doValue, a company listed on the STAR segment and active in credit management and real estate services for banks and investors, has set the price of the capital increase, for a maximum total amount of 149,72 million euros, at 0,88 euros for each new share. 170.140.355 new shares will be issued, to be offered as an option to those entitled in the ratio of 35 new shares for every 4 option rights held. The subscription price incorporates a discount of 25,78% compared to the closing price of doValue shares on 21 November 2024 (3,86 euros). The capital increase will start on Monday 25 November 2024 and will end on 12 December, while the rights will remain listed until 6 December.
