The main European stock exchanges closed the first session of the week on the rise, on a day without any particular macro insights.
On Piazza Affari the Ftse Mib index closed the session with an increase of 0.97% to 31,456 points.
On the main basket of Piazza Affari, purchases in particular on Saipem (+5.9%), Telecom Italia (+2.9%) in view of the Board of Directors meeting the day after tomorrow and Brunello Cucinelli (+2.8%). Ferrari, on the other hand, is down (-0.55%). Outside the main list, focus on the probable delisting of Tod’s and Saras.
Anticipation is growing for tomorrow’s key event, the publication of the US report on consumer prices.
According to estimates compiled by Bloomberg, the annual US inflation rate is expected to have fallen to 2.9% in January, from 3.4% in the previous month.
Meanwhile, focus also on the quarterly reports and the statements of central bankers, for any ideas on the timing of rate cuts. On Wall Street the main indices are trading above parity, with the S&P 500 and Nasdaq at historic highs.
Meanwhile, the Fed’s Michelle Bowman reiterated that the US central bank’s key rates are in a good position to maintain downward pressure on inflation, which is why she sees no need to cut borrowing costs in the short term.
On bonds, the BTP/Bund spread is reduced with the yield on the Italian 10-year bond at 3.91% and that of the Bund at 2.37%, while the 10-year US Treasury stands at 4.19%.
On Forex, the euro/dollar exchange rate remains little changed at 1.077, as does the dollar/yen at 149.4.
Among raw materials, Brent oil is trading close to 92 dollars a barrel after the rises of the last week.