On the international markets we are witnessing on the one hand a Europe burdened by political problems French e Germany, on the other hand to positive signals for the'US economy: in this situation it is the dollar that is celebrating against a euro which fell 1% to $1,0469. In a mostly positive Wall Street, the technology purchases, while the financial and cyclical sectors took a break, also influencing the Asian stock markets. The French government crisis is therefore under special surveillance and should be played out tomorrow with a vote of no confidence by the droite and the gauche. For the moment, European stock markets are seen opening in the green. Attention remains on the developments at Stellantis and Unicredit-Banco Bpm.
The desire for technology returns. The US economy shows strength
Il Nasdaq and the S&P 500 posted record closing highs on Monday, boosted by technology-related stocks: MetaPlatforms, the parent company of Facebook and Amazon.com Inc, gained 3,2% and 1,4% respectively, while Intel fell 0,5% after the struggling American chipmaker announced the retirement of CEO Pat Gelsinger.
The market is located in a seasonally positive period, analysts say, but investors are still cautious and uncertain. Supporting the stock market are expectations of Trump's potential plans to tax cuts e deregulation, while the prospect of the duties the market doesn't like it. Investors were encouraged yesterday by the solid US manufacturing data both from the Institute for Supply Management and S&P Global reports, while data released over the weekend indicate that the Black Friday shopping It exceeded expectations. The Dow Jones fell 0,29% to 44.782,00. The S&P 500 rose 0,24% to 6.047,15 and the Nasdaq Composite rose 0,97% to 19.403,95.
La Federal Reserve is in focus and Friday's monthly payrolls report could be the deciding factor when considering whether to cut rates again on December 18. Yesterday, the Fed governor Christopher Waller said he was inclined to cut the benchmark interest rate because monetary policy remains sufficiently restrictive to continue to put pressure on inflation, while the labor market is roughly in equilibrium, a condition that the Fed intends to maintain.
Asia: Stocks rise in wake of Wall Street
Asia Pacific stocks are up for the third consecutive session, also inspired by the record highs of the S&P500 and Nasdaq yesterday on Wall Street. The MSCI Asia Pacific index is up 1,1%.
The stocks are rising above all semiconductor industry company after the United States announced new measures to limit China's access to crucial technologies, but the measures presented yesterday by the White House mirror previous ones and leave room for exemptions and ways to circumvent the bans. The Nikkei of the stock exchange Tokyo earn over 2%: Tokyo electron leads the movement with a 4% rise, after yesterday's +2%. The yen weakens to 150,1, but remains close to the highs of the last month and a half as we await the Bank of Japan's interest rate hike in December.
La Seoul Stock Exchange is up 1,8%. South Korea's inflation rose less than expected and remained below the central bank's target for the third straight month. The inflation data comes after the Bank of Korea cut interest rates.
The results are also positive bags of China. Shanghai Shenzhen CSI 300 Index up 0,2%. Hong Kong Hang Song up 0,7%. China's central bank governor reaffirmed monetary support for economic growth overnight. The People's Bank of China will "stick to an accommodative monetary policy stance" in 2025, Pan Gongsheng said at a financial forum in Beijing. The central bank will "intensify countercyclical policy adjustment," a phrase that usually refers to measures to counter the economic slowdown. The central bank will also use various tools to keep liquidity ample and lower borrowing costs for businesses and residents.
Prices Of their (+0,47% to 2.670 dollars per ounce) and of Petroleum rise (Wti +0,35% to 68,34 dollars per barrel and Brent +0,40% to 72,12 dollars per barrel) while in Middle East The US-brokered truce between Israel and the militant group Hezbollah continues to falter. In addition, traders await the outcome of the meeting of the'OPEC+ expected this week. Sources at the producer group said at their meeting on December 5, the latest round of production cuts will be extended until the end of the first quarter of 2025.
The French government risks a vote of no confidence from the droite and the gauche
France is still at the centre of European attention, with its government on the brink of collapse after both the right and left presented motions of no confidence. The straw that broke the camel's back was the attempt by Prime Minister Michel Barnier to pass a social security bill through parliament without a vote. Tomorrow there will be the vote at the National Assembly, with both sides opposed to the 2025 financial plan, the fate of the Barnier government seems sealed. And it would be the first villa since 1962 that a government in France is forced to resign with a vote of confidence. The yield differential French and German 7-year yields rose about 87 basis points to 12 bps, although it remained below last week's 90-year high of XNUMX bps
In Europe, it is not only France that is showing problems: also the Germany faces early elections following the collapse of the local government, just as Donald Trump is about to return to the White House, threatening huge tariffs on the area for not buying enough American cars and farm products.
European stocks seen opening higher, but keep an eye on France
European stocks are expected to open higher, with an eye on the political crisis in France. The EuroStoxx 50 Future is up 0,3%. The Frankfurt Dax Future is up 0,3% after yesterday marking an all-time high.
The Cac40 in Paris closed at parity, from an initial -1,2%. The FTSEMIB in Milan yesterday rose by 0,2%. Today in Europe the economic data calendar is empty, but a pre-recorded interview with the member of the ECB council, Peter Cipollone, will be broadcast during an event in Milan.
stellantis The process of Appointment of new CEO of Stellantis, following the surprise resignation of Carlos Tavares yesterday, is at an advanced stage and will be concluded by the first half of 2025. According to a source, the board of directors is evaluating Maxime Picat, chief Purchasing and Supplier Quality officer e Antonio Filosa, Chief Operating Officer North America as internal candidates for CEO. The Italian government wants to protect jobs and related industries in its negotiations with Stellantis and hopes a meeting scheduled with the company on December 17 will be decisive, the prime minister said Monday. Giorgia Meloni. THE registrations of cars in Italy in November were equal to 124.251 units, with a decrease of 10,82% on the same month of 2023. The Stellantis group recorded a decrease of 24,87% with a market share of 24,86% compared to 25,15% in October, based on calculations ReutersThe EU Commission is studying a plan that includes a “modulated freeze” of fines for manufacturers that do not respect the 2025 emissions targets and a different methodology for calculating emissions that allows the use of alternative fuels, writes The print.
Leonardo The contract for the Global Combat Air Programme between Leonardo, BAE Systems, Mitsubishi Heavy Industries, is expected to be signed on December 13, CEO Roberto Cingolani said yesterday. Saudi Arabia could participate in the initiative
Unicredit-Banco BPM . Ecosystem's staff is Corriere della Sera writes that the paper exchange offer could be modified, with the addition of a cash component. The Italian government has the tools to intervene if UniCredit's takeover offer for Banco Bpm is contrary to the national interest, the prime minister said Monday Giorgia Meloni. Fitch Ratings affirmed UniCredit's Long-Term Issuer Default Rating (IDR) and Senior Preferred Rating at “BBB+” with a positive outlook, following the exchange offer on Banco Bpm.
Ferragamo It foresees a probable negative impairment test in the 2024 consolidated financial statements and believes that write-downs could be made on specific individual assets which cumulatively lead to an overall write-down currently quantifiable in a range between approximately 70 and 90 million euros.
