Major European exchanges are moving towards a flat opening, looking for direction after a volatile week. Attention already seems to be focused on the start of the quarterly reports scheduled for Wednesday 13 October, with the first feedback from the banking world.
While waiting for the earnings season to kick off on Wall Street, the week begins on the markets with few macro insights. Among the appointments of the day to note the Italian industrial production in August and the publication of the monthly Istat bulletin. Also highlighted is the speech of two members of the ECB’s governing council, Francois de Galhau Villeroy, and Philip Lane (chief economist) at 9 and 14 respectively in the USA today is the celebration of Columbus day and Wall Street will remain closed the market treasury closed, while the NYSE will be open.
The performance of oil should also be monitored after the new flare-up in prices, with those of the WTI trading on the Nymex in New York exceeding the threshold of $ 80 a barrel for the first time since 2014. After having jumped up to + 4% last year WTI prices rose nearly 2% this morning to $ 80.81 a barrel, now around $ 81, the highest in seven years. Brent prices advanced 1.5% to $ 83.6, following last week’s 4.6% rally.