(Il Sole 24 Ore Radiocor) – After the dull session on the eve, with the European stock exchanges that have not kept up with a record Wall Street, the Old Continent indices are discounting another day with a few jolts while the ride of Bitcoin continues, once again on historical records and beyond the threshold of 68 thousand dollars. The FTSE MIB in Milan, the CAC 40 in Paris and the DAX 40 in Frankfurt are so slightly down, that last week they tested new highs. Also down were the Ftse 100 in London, the IBEX 35 in Madrid and the AEX in Amsterdam.
For the moment, Wall Street futures are also pricing in a slightly negative session pending the October inflation data (in today’s “starter” session with producer prices) even though the Fed has now dictated the tapering line. The calendar of the day’s appointments includes the publication of the Zew index in Germany which expresses the sentiment of confidence of institutional investors.
Focus on Unicredit, live quarterly
In Piazza Affari, eyes on Unicredit after it announced the complete exit from the capital of Yapi Kredi during the night, which will have a negative impact of 1.6 billion but positive on Cet 1. On the euro currency on the threshold of 1.16 dollars. In addition, the quarterly season comes to a head in Piazza Affari. On November 9 it is the turn of Finecobank. On 10 November the protagonists will be the accounts of Hera, Terna, A2a, Generali, Nexi, Pirelli, Atlantia, Prysmian and Poste Italiane. Thursday 11 November it’s up to Unipol.
Spread slightly down to 112 points
Fractional decline in the spread between BTp and Bund on the secondary MTS market for government bonds. The yield differential between the ten-year benchmark BTp (IT0005436693) and the same German duration is indicated at 112 basis points from the 113 points recorded in the previous final. The yield of the benchmark ten-year BTp also fell slightly to 0.88%, from 0.89% of the reference of the previous closing.
Always on the bond front they are worth mentioning US yields on the long part of the slightly downward curve, a sign that investors have so far digested the 15 billion dovish tapering announced last week by the Federal Reserve led by Jerome Powell.
Spotlight on cryptocurrencies, record-breaking bitcoin
The climate of euphoria of cryptocurrencies whose capitalization has exceeded 3 trillion dollars should also be monitored. Not only Bitcoin (which capitalizes 1,250 billion dollars in the price area of 66-67 thousand dollars) is rising but all the main coin alternatives, from Ethereum to Solana passing through Binance (the largest cryptocurrency exchange in the world).
Tokyo still slips with profit taking
After a positive start supported by Wall Street earnings that benefited from the green light of Congress for President Joe Biden’s massive infrastructure investment plan, the Tokyo Stock Exchange reversed course and fell for the third consecutive session, the victim of taking benefit. The appreciation of the yen also held back investors. Thus the Nikkei index fell 0.75% to 29,285.46 points and the broader Topix index lost 0.81% to 2,018.77 points.