(Il Sole 24 Ore Radiocor) – A smooth start to the week for the European stock exchanges. The lists try to consolidate the levels reached with the recent increases (+ 1.7% the Stoxx600 la
last eighth with a new historical record) thanks to the support arrived from Chinese export data in October and the green light of the US Chamber for the infrastructural plan
five-year period that provides for 579 billion dollars of additional investments to be added to the renewal of the 400 billion of interventions already planned. The Milanese FTSE MIB has barely moved to its highest levels since September 2008. Among the main stocks, Buzzi Unicem stands out thanks to the data on revenues for the first nine months of the year, and the aforementioned approval of the US plan on
infrastructures, a factor that also affects Webuild. Volatile Telecom Italia: over the weekend rumors continued on the possible strategic choices of the
tlc group that could end up on the table of the extraordinary board of directors on 11 November and on the interest of several private equity funds to evaluate operations on the assets of the
group starting from the infrastructural ones. In chiaroscuro the banks after that the rating agency Moody’s confirmed the rating and outlook on the Italian public debt.
On the macro front, several public interventions by Federal Reserve officials are scheduled in the afternoon, starting with that of President Jerome Powell, but operators do not expect any indications other than those that emerged at the press conference last week. The crucial appointment of the week, however, will be Wednesday with the US inflation data, from which the market is waiting for useful indications to understand the next monetary policy developments.
Euro / dollar stable, oil rises
On the foreign exchange market, the exchange rate between the euro and the dollar is traded at 1.1562 (1.1557 on Friday evening). The single currency is also worth 131.27 yen (131.08 on Friday), while the dollar / yen ratio is at 113.54 (113.42). The price of oil rises: the December WTI futures rise by 1.08% to 82.15 dollars a barrel, while the January delivery on Brent gains 0.98% at 83.55 dollars.
On bonds, the BTp-Bund spread rose slightly. The yield differential between the benchmark ten-year BTp and the same German duration is indicated at 116 basis points from the 115 points of last Friday’s final. There was also a slight increase in the ten-year BTP yield
benchmark at 0.89%, from 0.88% at the previous closing.