MILANO – Positive day for the European stock exchanges with the attention of the markets focused on the Fed meeting today and tomorrow. The US central bank expects interest rates to rise by 75 basis points, the fourth in a row. More than on tomorrow’s decision, almost taken for granted, the focus of investors is on the next steps: the weakness of some macro data relating to the US economy would suggest a possible slowdown, an indication that could lead the Fed to be more cautious about the next increases, but the data on the labor market, which arrived in the afternoon, again reversed expectations.
Mortgages, the Fabi alarm: rates will rise over 5%, in France you pay much less
Lagarde: “Inflation must be at 2%, ahead with the rate hike”
He talked about badgers again Christine Lagarde, reiterating what was underlined last Thursday at the end of the ECB’s board of directors, which triggered a new rise in Europe as well. “Inflation is still too high in the euro area as a whole. Last week we decided to raise interest rates for the third time in a row. And we plan to raise them further to ensure inflation returns to ours in a timely manner. medium-term target of 2%, “he said in an interview with the Latvian daily Delphi.
positive asian
Positive day also in Asia. The Nikkei a Tokyo scores a + 0.33%. A trade in progress runs Hong Kong (+ 5.7%) with hi-tech giants, such as Alibaba, on the shields. They also go up Shanghai (+2,7%) e Shenzhen (+ 3%) while in China the manufacturing PMI sponsored by Caixin magazine recorded an unexpected rise to 49.2 points in October.
Europe, an eye on the Fed but rising markets
The European stock exchanges begin November well, confirming the positive trend recorded in recent weeks (London, the best, gained 1.29%, followed by Paris, + 0.98%, and Frankfurt, + 0.64%). However, the data on US jobs, stronger than expected, caused the indices to slow down significantly in the end, in the wake of Wall Street, slipped into negative territory. The strength of the labor market in the States has in fact once again jeopardized a more dovish attitude on the part of the Fed, which will decide on rates tomorrow. Discounted the rise, the less certain the path that will be drawn.
A Business Square the Ftse Mib – which during the day had also reached + 2% – closed in progress of 0,63%, consolidating the highs since mid-August. Among the main titles Tim it rose 5.15% taking advantage of speculation on one possible takeover bid on the way by Cdp after the appointment of Alessio Butti undersecretary to the presidency of the council with responsibility for technological innovation. Rising oil prices supported Tenaris (+2,58%) ed Eni (+ 1.58%), while Campari (+ 1.3%) continued to celebrate the US acquisition announced yesterday. Instead, it lost altitude Pirelli (-2.46%) together with the entire European sector in the wake of the negative indications coming from the quarterly report of Goodyear.