European stock markets are expected to have little variation at the opening, with futures on the Eurostoxx50 rising slightly (+0.06%), on the day in which the ECB announces a new cut in interest rates (announcement at 2.15pm, followed by President Christine Lagarde’s press conference at 2.45pm).
In Milan, the focus remains on Stellantis, which recalled 44,500 hybrid crossover SUVs globally due to a possible defect in the brake pedal, which could come loose and compromise braking. On the banking front, Unicredit is still awaiting the court’s decision regarding the immediate reduction of its assets in Russia, as requested by the ECB. With regard to Mps, Barclays held 5.127% of the capital as of October 7, of which 4.2% was in long positions, according to Consob data on relevant holdings.
Regarding the ECB, analysts expect a further rate cut, the second in a rowfollowing in the wake of the Federal Reserve, which already reduced borrowing costs last month. Deutsche Bank points out that this could accelerate a faster monetary easing cycle.
