(Il Sole 24 Ore Radiocor) – The European Stock Exchanges are positive, following Asia and Wall Street in the hopes of a slowdown in the pace of restrictive monetary policy in the USA. The minutes of the last Fed meeting revealed the willingness of most members to proceed with rate increases, but at a more moderate pace than in recent months, when four consecutive 75 basis point hikes were launched. Yields on US bonds also fell, with the 10-year bond falling to 3.7%. On Thanksgiving Day, with Wall Street closed for the holidays, all eyes are on the minutes of the last meeting of the ECB, from which they expect indications on the monetary policies of the Old Continent. Meanwhile, the surge in Covid cases in China is causing concern at an international level-
In Milan, eyes focused on utility and luxury
In Piazza Affari, the shares of utilities will be under observation, which are recovering after the declines on the eve caused by the announcement of taxes on extra profits. Eyes also on luxury stocks, on the fear that a new squeeze will be proclaimed in China to fight Covid.
The price of gas is falling
In Amsterdam, the value of gas is slightly down: the December future falls by 1.2% to 128 euros per megawatt hour. On the other hand, the January contract is stable at 135.9 euros. Yesterday several EU countries including France, Italy, Poland, Spain, rejected the proposal for a “price cap” of 275 euros because it was considered too high. hemi-
Tokyo on the highs for two and a half months
The Tokyo Stock Exchange ends the session on the highs in two and a half months, after yesterday’s holiday, in the wake of the consolidation of the US stock indexes, following the publication of the minutes of the Federal Reserve which imply the possibility of a slowdown in the tightening monetary. The Nikkei reference list marks an increase of 0.95% to 28,383.09, and a gain of 267 points. On the foreign exchange market, the yen gradually strengthened against the dollar to 138.90, and against the euro slightly below a level of 145. The Seoul Kospi advanced by 0.89% to 2,439.44 points and the Hong Kong Hang Seng Kong +0.65% (to 17,637 points), while the Shanghai Composite fell by 0.11% to 3,093.51 points. Below the parity of 0.02% at 10,970.54 points, the Shenzhen Component.
The other events of the day
The day for stock markets opens with Japan’s manufacturing PMI and continues with business confidence in France, the German Ifo and the cyclical BnB index of the Belgian National Bank. Data unable to move the markets, except for any surprises on the German Ifo front. The event of the day instead comes from the ECB: in addition to the minutes, speeches by Enria, Schnabel, Nagel and de Guindos of the ECB are expected. Information on the institution’s next moves could also come from them. Extraordinary meeting of energy ministers in Brussels to discuss gas price ceilings. Finally, the Treasury auctions Short Term BTPs and 7-year BTPs for a maximum of 2.75 billion.