The European stock exchanges they close the last session of the week in money, but the weekly performance is more cautious and discounts some profit taking and a drastic drop in volumes, typical of sessions between Christmas holidays.
A week dominated by one double reference: back to the events that have characterized the last period (from the election of Trump to the White House to the change of pace of the central banks) and forward to those who are the expectations for 2025 (the end of wars, a more measured central bank policy, the possibility of an all-out trade war).
A double optic it has amplified uncertainty and volatilityholding back the stock market, except for the last session, and pushing yields high of government bonds, with the 10-year Treasury who touched a peak of 4.64%positioning itself at the highest level since May.
The macroeconomic scenario
The week opened with the data from UK GDPwhich disappointed slightly, recording growth of 0.9%, lower than the 1% expected by the market. Also the GDP of Spain has disappointed a bit, even if it maintains growth of 3.3% (3.4% consensus).
Give it to him USA conflicting and mostly disappointing data arrived, such as those on orders for durable goodsfell much more than expected by 1.1% and the statistics on construction marketwhich noted growth in building permits of 5m2%, well below consensus. The data is also disappointing consumer confidence at 104.7 points (112.9 consensus) and the preliminary data on the trade deficitwhich rose to 102.8 billion dollars due to the surge in imports.
Currencies and commodities
The euro it has moved up and down, discounting the prospects of a more generous interest rate policy in Europe than in the USA and giving way to the greenback, which takes advantage of its nature as a safe haven. The week ends with the euro at 1.0417 USD, slightly lower than the previous week (1.043 USD).
Even theGold it travels below the highs reached recently, with trades around 2,615.91 dollars per ounce, down by 0.56% in the last day and up by 0.85% on a weekly basis.
The weekly performance of the stock markets
A look at the weekly performance highlights that the Dax-30 in Frankfurt it is the worst index in Europe, with a drop of 0.60% on a weekly basis: the German stock market continues to face greater difficulties on the economic front. Follows closely Paris Cac-40 with a drop of 0.16% still due to the uncertainties relating to the approval of the Budget after the installation of a new coalition government. He also hesitates Milanwith the FTSE MIB index filing 0.15%, while traveling in positive territory the Ibex of Madrid b and the London Footsie which rises by 0.29%.
Him too American indices they are about to close out the week sharply rising: the Nasdaq 100 gains 3.34%, the S&P 500 3%, while the Dow Jones Industrial rises by 2.32%.
The best and worst in Piazza Affari
Among the best titles of the week it stands out STMicroelectronics, which gains 3.65%, following the comeback of the European chip sector and the largely positive performance of the Nasdaq.
Money on luxury, in particular Brunello Cucinelliwhich rises by 2.13%.
Banking risk keeps the prices of some banking stocks high, such as MPS, Unicredit and Banco BPMall with increases of around 2%, while we are still thinking about the opportunities offered in the year that is about to begin.
Among the worst Saipemwhich lost 4.99%, hit by realizations, and TIMwhich slipped by 2%, also due to profit taking, while we are already looking at possible movements in the shareholder base.
