European stock exchanges end the week in the spirit of weaknessfollowing the performance of Wall Street and Asian markets, while holds Piazza Affariwhich recorded a modest gain thanks to the positive ideas on the data front quarterly results et al banking risk.
Economy and Central Banks
On the macroeconomic front, a series of chiaroscuro macroeconomic data should be noted. They arrived today conflicting data from China – weak retail sales, good production – while the UK GDP confirmed the slowdown phase of the economy in the Old Continent. Overall better than expected US data this afternoon, while US inflation it rose again in October to 2.6%, meeting analysts’ expectations.
There European Commission has meanwhile cut Italy’s growth estimatesreporting that the country will grow by only 0.7% in 2024 (compared to the previous +0.9%) and 1% next year (against +1.1%), and then rise by 1.2 % in 2026, also due to uncertainties about the protectionism of the new Trump administration.
Contributing to penalizing the stock markets was the Fed Chairman Jerome Powellwhich has held back on other possible rate cutsafter the almost obvious one in December: the probability of a 25 point cut has however fallen to 60% from the previous 80%.
Spreads and commodities
Declining the Euro / US Dollarwhich at the end of the week rose from the lows to 1.056, but confirms a weekly drop of 2.3% The drop in theGold which lost more than 5% on a weekly basis, settling at $2,563.24. The Petrolium (Light Sweet Crude Oil) fell further, settling at 67 dollars per barrel, a loss of almost 7%.
Consolidate the spreadsettling at +122 basis points, with a yield on the 10-year BTP standing at 3.54%, at the end of a very busy week for the Treasury in relation to the BOT and BTP auction.
The performance of the markets
Among the European stock markets, which are generally negative, the worst stock market at the end of the week was that of Pariswith a loss of 2.10%. In red too London which left around 1 percentage point on the floor. Little better Frankfurt which recorded a decrease of 0.78%. They moved against the trend Milanwith an advantage of 0.62% e Madridwhich gains 0.57%.
Better and worse
Among them best Blue Chips of Piazza Affari is noted Monte dei Paschiwith a gain of more than 15%, after the MEF placed another 15% tranche, purchased by Banco BPM and Anima which reached 9% of the capital, revitalizing the rumors relating to a possible aggregation.
It also shines Generali Insurancewith a strong increase of more than 7% after presenting solid quarterly results.
Lively TIMwhich gains almost 4% on the week, after announcing growth results in the first quarter without the network (Netco).
Among the worst of the week Iveco and Nexi which left well over 5% on the ground.
