MILANO – European stock exchanges are preparing for a sluggish restart, caught between fears of the recession risk re-launched yesterday by the International Monetary Fund and expectations for the US inflation data arriving tomorrow. A figure that could offer an important indication on the next moves of the Fedcalled to counter the rush of inflation but always making sure not to excessively pull the handbrake of the US economy.
The indiscretions of the Financial Times, according to which the Bank of England could continue its purchase program beyond the deadline set for Friday, despite in the meantime the controversial land plan launched by the Truss government which had created much turbulence on the British market, has already been withdrawn. The advances of the London daily give a boost to the pound, which recovered sharply against the dollar in the morning.
Mixed session instead for the Asian stock exchanges. The new Covid outbreaks rekindle concerns in China and weaken local lists. It goes better at Tokyowith the Nikkei ending trades fractionally down (-0.02%)
The gas opens higher
Natural gas opens slightly on the Ttf square in Amsterdam. Futures contracts for the month of November gain 0.14% to 157 euros per MWh.
Stable spread at startup
Opening little move for the differential between German BTP and ten-year Bund, which rose from 236 points on the eve to 236.7 basis points. The Italian annual yield unchanged at 4.657%.
Slightly moved oil
The start of the day was not very smooth for oil prices: WTI crude oil lost 0.15% compared to the prices last night in New York, at 89.22 dollars a barrel. Brent instead rose by 0.10% to 94.38 dollars a barrel.