European stock markets close the first session of the week with a sharp decline. On Piazza Affari the Ftse Mib closed down by 1.07% to 28,585.86 points, with purchases especially on Banca Mps (+2.1%), Bper Banca (+1.8%) and Banco Bpm (+1 .6%) while Moncler (-3.1%), A2A (-3.1%) and Erg (-2.8%) retreated.
On Forex, the euro/dollar exchange rate is rising in the 1.069 area.
Among raw materials, oil (Brent) is rising to 94.6 dollars a barrel.
On European bonds, the BTP-Bund spread increased to 179 basis points, with the Italian ten-year bond at 4.45%.
This week the focus will be on central banks and especially on the Federal Reserve meeting (Wednesday). Expectations are for rates to remain at current levels. In addition to the Fed, the BoE (Thursday) and BoJ (Friday) meetings are also on the calendar.
On the macro side, the final Eurozone inflation data (tomorrow) is among the most awaited after the ECB raised rates by 0.25% and revised upwards its estimates for the consumer price index in 2023 and 2024 , but with 2024 core inflation slightly lower than previous forecasts. Finally, the manufacturing and services PMI indices of the main Western economies will be published on Friday, with those of the Eurozone receiving particular attention after the disappointment of the latest reading.