US consumer confidence is expected, but the highlights of the week are the ECB meeting and inflation
by Chiara Di Cristofaro and Paolo Paronetto
(Il Sole 24 Ore Radiocor) – Opening slightly higher for European stock exchanges: thequarterly effect continues to support investor sentiment on the equity markets, balancing fears related to the spread of Covid and the problems of Chinese real estate sector after another builder, Modern Land, did not respect the payment of a dollar bond, returning to voice the risks of the domino effect after the crisis of the colossus Evergrande. In the United States, Facebook opened the round of Big Tech budgets announcing earnings above analysts’ forecasts of more than $ 9 billion, even though revenues were lower than forecasts. On the foreign exchange market, the euro is up slightly ahead of the ECB summit on Thursday: the single currency is worth $ 1.1638 from 1.1600 yesterday at the close. Little moved the price of oil.
Nikkei closed at + 1.8% driven by US rallies with quarterly reports
The Tokyo Stock Exchange closed strongly on the back of new records recorded the day before on Wall Street thanks to the positive results of major companies. The market also found support in a survey that appeared in the Japanese press last night, according to which the Prime Minister Fumio Kishida’s Liberal Democratic Party could maintain a comfortable majority in the Japanese parliament after the October 31 general election. At the end of the trade, the Nikkei Leadership Index gained 1.8% to 29,106.01 points and the broader Topix gained 1.2% to 2,019.30 points, with all 33 sectors positive.