Closing with little movement for European stock exchanges and Piazza Affari, while Wall Street continued to rise slightly. The Ftse Mib closes trading up by 0.15% to 30,453 points, with Finecobank (+2.4%) and Iveco Group (+2.2%) at the top. Campari is down (-6.5%) after the placement of new shares and bonds to finance the acquisition of Courvoiser. Terna (-1.9%), Saipem (-1.8%) and Italgas (-1.7%) were also subdued.
The markets’ focus is on tomorrow’s data on US consumer prices, while those on producer prices are scheduled for Friday. The inflation numbers will help inform expectations about the Fed’s next moves, after traders have slightly reduced their bets on rate cuts in 2024 in recent days.
As regards cryptocurrencies, the SEC’s decision regarding the Bitcoin ETF ($45,500) is expected this evening.
Furthermore, Wall Street’s quarterly reporting season will begin on Friday, with the first accounts of the banking giants.
On bonds, the BTP-Bund spread contracts to 163 basis points, with the yield on the Italian ten-year bond at 3.83% and that of the Bund at 2.21%. An auction of ten-year Treasuries worth $37 billion is scheduled in the US.
Among raw materials, Brent oil is trading little at around $77.5 per barrel, after the above-expected increase in US weekly inventories revealed by Energy Information Administration data.
On Forex, euro/dollar rising to 1.096 and dollar/yen rising to 145.7.