Uneventful ending for the European stock markets, in a session with few relevant events. On Piazza Affari, the Ftse Mib closed trading with a decline of 0.1% to 32,912 points.
More purchases on Saipem (+4.9%), driven by the accounts released last week. Banco BPM (+1.8%) and MPS (+1.8%) also performed well. On the other hand, Ferrari (-2.9%) lost ground after Citigroup’s downgrade to Sell, and Nexi (-2.8%).
Anticipation is growing for the events of the next few days, starting tomorrow with the 14th Congress of the Chinese People’s Party and the Super Tuesday elections in the USA. Focus then on the testimony to the US Congress by the president of the Federal Reserve, Jerome Powell, the ECB meeting and the American data on the labor market.
On bonds, the BTP-Bund spread contracted to 147 basis points, the lowest since February 2022, with the yield on the Italian 10-year bond at 3.89% and that of the Bund at 2.42%.
Among raw materials, Brent oil is barely moving in the 83 area, dollars per barrel, after OPEC+ extended supply cuts until mid-2024. On Forex, euro/dollar exchange rate at 1.085 and dollar/yen above quota 150 yen per dollar.
In the meantime, the Bitcoin rally has restarted, returning to $66,500, just over $1,000 from the all-time high.