(Il Sole 24 Ore Radiocor) European stock exchanges cautious while waiting for the important American data on the labor market that will be released in the early afternoon. Moreover, the weakness of the Asian markets is encouraging a more cautious attitude, after the run recorded by the European indices in recent sessions. According to observers, however, the trend is set to rise, thanks to the close of the year now within reach. So much so that for now the rise in infections from Covid-19 in Europe or some macro data in light and shadow, as well as the prospect of a tightening of monetary policy by the main central banks have not shaken the performance of the stock exchanges. On Wall Street also yesterday the S & P500 index and the Nasdaq updated new records. In Europe Frankfurt yesterday exceeded 16 thousand points for the first time and also in Milan the Ftse Mib updated new highs in 2021 above 27 thousand points, levels it had not seen since the end of September 2008. On the macro front, meanwhile, it emerged that production German industry in September recorded a cyclical decline of 1.1%, disappointing the expectations of analysts who expected a limited rise (+ 0.2%).
Central banks under the lens
The moves of the central banks remain under the lens, although for now no maneuvers have been announced that have surprised investors. On Wednesday, the Federal Reserve announced tapering, meaning the reduction in asset purchases of $ 15 billion per month, from the level of $ 120 billion. The move was already largely metabolized by the markets and above all the number one, Jerome Powell, reassured that the central bank will instead be “patient” on the rate adjustment. Yesterday the Bank of England announced the status quo on monetary policy, despite analysts’ expectations of a possible rate hike.
At Piazza Affari, all eyes are on Banco Bpm and Leonardo
At Piazza Affari, all eyes are on Banco Bpm, which runs after the publication of the new business plan. On the other hand, Leonardo – Finmeccanica’s shares are weak, after the disclosure of the accounts. After yesterday’s race, the focus is still on Telecom Italia, which continues to rise and move away from the 2021 lows marked in recent days, with the network dossier once again topical. Finally, Enel are under the lens after the disclosure of the accounts.