MILAN – There was no republican wave in the American elections in Midterm and the markets are awaiting the very uncertain outcome of the vote. Futures on Wall Street are swinging above and below par, considering that an impasse could be historically positive for US equities. Weakness also on the European front, after an Asian session that did not give particular food for thought other than a rise in the Chinese real estate sector on the prospect of increased financial support from local authorities towards the sector.
EU stock exchanges uncertain at the opening, Banco Bpm and Iveco take off in Milan after the accounts
Uncertain opening for the European stock exchanges, hanging on Wall Street and the outcome of the Midterm vote. Milan manages to take a positive start (+ 0.3%) with Banco Bpm and Iveco that stand out after the accounts.
Stable opening for the spread between ten-year BTPs and German Bund counterparts. The differential stands at 210 points, in line with yesterday’s close. The rate stands at 4.345%.
Energy chapter: at the Ttf, the Dutch reference market, the European price of gas is around 115 euros per megawatt hour (MWh) at the opening of the session, down by 2.64%.
Closing down in Tokyo: -0.6%
Closing down for the Tokyo Stock Exchange with the Nikkei index losing 0.56% to 27,716.04 points.
Oil, weak start
Start down for oil: the wti is trading at 88.81 dollars a barrel (-0.10%). Brent remained essentially at 95.37 dollars (+ 0.01%).
Inflation slows down in China
Inflation slows down in October in China. The consumer price index rose 2.1% over the previous year, down from the 2.8% increase recorded in September and slowed down from the 2.4% increase forecast by analysts. Consumer price inflation retraced from its 29-month highs in September and price pressures remained much more modest. Core inflation increased by 0.6% in October, unchanged from September.
The producer price index (PPI) fell for the first time since December 2020, weighed down by the fall in steel and iron prices, recording a 1.3% decline on an annual basis, compared to +0 , 9% the previous month, and the 1.5% decline forecast by analysts.