(Il Sole 24 Ore Radiocor) – Global stock exchanges are looking for a trio: after gaining ground in the last two days, and in particular on Wednesday, global stock markets are up for the third consecutive session, while the Asian indices have managed to break the five-day negative streak. The most marked movements are recorded in Hong Kong, which rises by more than two percentage points, driven by tech and real estate stocks. European markets, after the rebound on the eve driven by the improvement in American consumer confidence, are moving more cautiously, with investors moving in an already pre-Christmas climate. Thus the FTSE MIB of Milan, the CAC 40 of Paris, the DAX 40 of Frankfurt, the IBEX 35 of Madrid, the AEX of Amsterdam and the FT-SE 100 of London are fluctuating.
Utilities do well in Milan, followed by Iveco
Among the main Milanese stocks, the purchases reward Hera, Leonardo – Finmeccanica, Diasorin and Amplifon, while Iveco Group and Prysmian lose ground. Utilities were generally positive, with Enel and Snam Rete Gas, after Standard Ethics raised the security rating of the “Snam Euro-Commercial Paper Program for the issuance of Notes and Esg Notes” to “EE+” from the previous “EE” . On parity Stellantis, on the day in which the acquisition of aiMotive, a company active in the development of advanced solutions for artificial intelligence and software for autonomous driving, was finalised. aiMotive will operate as a subsidiary of Stellantis, maintaining its operational autonomy. Founder László Kishonti will remain CEO.
Euro consolidates positions, weak oil and gas below 100 euros
On the currency market, the euro-dollar exchange rate consolidates its positions above 1.06: the single currency is worth 1.0638 dollars from 1.0609 at the closing date. Yen still strong at 140.39 for one euro (140.15) and 131.96 for one dollar (132.10). Oil slightly above parity with February Brent at 82.29 dollars a barrel (+0.11%) and the same contract on the Wti at 78.43 dollars (+0.18%). Crude oil rallied yesterday following the announcement that oil inventories in the United States fell much more than expected. The price of natural gas drops again in Amsterdam, on its way back to pre-Russian invasion levels of Ukraine: the January contract yields 6.5% to 91.4 euros per megawatt hour.
Spread down to 209 points, yield down to 4.37%
Declining trend for the spread between BTp and Bund on the Mts secondary market of European government bonds. The yield differential between the ten-year Italian benchmark BTP (Isin IT0005494239) and the German equivalent maturity is 209 basis points, three less than the last reference on the eve. The yield of the 10-year benchmark BTP also narrows to 4.37% from 4.42% at the previous closing.
Eyes on US GDP, in Italy focus on industry
From the USA, the GDP data for the third quarter is expected today, as well as the leading index and the numbers on weekly benefit requests. As for Europe, among the expected macroeconomic data, Acea presents the data relating to the month of November on the registrations of commercial vehicles in Europe, while for Italy Istat publishes the data on the turnover of the industry in October, the production prices of industry and construction in November and extra-EU foreign trade in November.