Home Business Stock markets shy in inflation day. Milan leader, Ferragamo down after the accounts

Stock markets shy in inflation day. Milan leader, Ferragamo down after the accounts

by admin

(Il Sole 24 Ore Radiocor) – European stock markets shy, after two sessions marked by weakness, with investors who have adopted a cautious attitude and taken some profits after the run recorded by the lists last week. A race that brought the main indices to new highs in 2021 and some to unprecedented levels, such as Paris and Frankfurt. Today, November 10, investors are focused on the inflation data. It was announced that in October producer prices marked an annual increase of 13.5%, over 12.4% in September, reaching new all-time highs at least since October 1996, the starting date of the current historical series.

Thus the October figure continues the streak of nine consecutive months of growth in producer prices, largely due to the high costs of raw materials. The consumer price index also rose sharply: in October they increased by 1.5% on a trend basis from + 0.7% last September. On a monthly basis, the rise was 0.7%, the highest in the last 9 months. Also today it emerged that in October in Germany the price index recorded an increase of 0.5% on a monthly basis and of 4.5% trend, lengthening the pace compared to September 2021, when the increase was 4 , 1%.

For Germany, this is the highest increase in inflation since August 1993. In the early afternoon, moreover, American inflation will be announced, which could influence the Federal Reserve’s moves, even if the US central institution has already given its line considering the temporary dear-life. Number one, Jerome Powell, said it was time for tapering, which means reducing asset purchases and not raising interest rates. In the meantime, the quarterly season continues at full speed. The main indices are up very slightly, with Milan showing the best performance, while the spread is down in the area of ​​112 points.

See also  In October, the zero growth rate of the society exceeded expectations. Can consumer stocks turn warmer?丨A large section

At Piazza Affari, eyes on Fineco, also St

In Piazza Affari the shares of Finecobank are in the spotlight, updating new highs ever after the announcement of the quarterly report. Stmicroelectronics also rose, on the day in which competitor Infineon announced that it had closed the July-September period with a 10% increase in revenues to 3 billion euros. The momentum, the company explained, is linked to the global shortage of semiconductors that has caused prices to rise. Number one, Reinhard Ploss, said the group is “investing a lot more to take advantage of growth opportunities.”

Stable euro, Bitcoin holds back

On the exchange front, the euro remains below the threshold of 1.16 dollars. The value of crude oil is on the rise, with the wti above 84 dollars a barrel. Finally, it slightly slows down the run of Bitcoin, which drops 2% to 66,590 dollars.

You may also like

Leave a Comment

This site uses Akismet to reduce spam. Learn how your comment data is processed.

This website uses cookies to improve your experience. We'll assume you're ok with this, but you can opt-out if you wish. Accept Read More

Privacy & Cookies Policy