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(Il Sole 24 Ore Radiocor) – The European stock markets start on the rise but immediately lose momentum, as they do not decisively follow the positive trail of Asia and Wall Street with the drop in US Treasury yields which has given breath to American stocks . The main indices of the Old Continent continue to fluctuate, starting with the FTSE MIB. After a series of sessions characterized by weakness, with concerns about the macro picture and the future of rates, the stock market attempts with little determination to regain its tone while investors’ attention begins to focus on the data on American unemployment, arriving Friday. Meanwhile, on the European front, industrial production is decreasing both in France (-0.3%) and in Spain (-0.8%), while on bonds the BTp yield rises to 4.91% and the spread is at 197 basis points. Crude oil is rising again after the previous day’s collapse and gas is falling.
A leap for Saipem and Maire in Piazza Affari
On the Milanese stock market, Saipem gets off to a start after the maxi order worth 4.1 billion dollars, followed by Prysmian who presented the new profitability targets. The banks are doing well, with Banca Pop Er, Banco Bpm and Banca Mps on the rise, and the utilities are also doing well. At the bottom of the Telecom Italia price list, on the day of the long-awaited meeting between the French of Vivendi and Minister Giorgetti to unblock the network dossier. Maire Tecnimont opens with a leap outside the main list after being awarded an 8.7 billion dollar contract from Adnoc in the United Arab Emirates.
The euro/dollar exchange rate is stable, crude oil is recovering
On the currency market, the euro is worth 1.051 dollars in line with the closing of the day before, while the price of oil recovers, after the collapse, with Brent in December at 86.3 dollars a barrel, up by 0.75% and the WTI November at $84.59 up 0.44%. The price of gas in Amsterdam fell by around 2% to 37.6 euros
Tokyo rebounds, Nikkei index closes at +1.8%
The Tokyo Stock Exchange interrupts the trail of five consecutive declines and concludes trading on an increase, with investors returning to the market after the retracement of US bond yields from the highs in 16 years, in the light of recent indications from the labor market, but which reduce the possibilities of a new monetary tightening by the Fed. The Nikkei reference index increased by 1.80% to 31,075.36, recording a recovery of 548 points. On the currency market, the yen gained ground against the dollar, at 148.60, and against the euro at 156.20.