Milan – The end of the week with a minus sign in the markets. The Fed Chairman’s words last night cooled investor optimism Jerome Powell, under which interest rates may have to rise further. Asian indices weakened, all of them fell, with Tokyo stopping at -0.24%.
In Italy, the spotlight is on Fitch, which will update its rating for our country this evening
European stock markets: closed lower, with London the worst
European stock markets closed lower, with attention shifting to monetary policy, following comments from Fed Chairman Powell and ECB President Lagarde. The worst price list is the London list, after the publication of the UK GDP for the third quarter, which saw zero growth, after a 0.2% increase in the previous quarter: the Ftse 100 index lost 1.20% to 7,359.46 points. Followed by Paris -0.96% to 7045.25 points, Frankfurt -0.78% to 15232.15 points, and Madrid -0.35% to 9372.42 points. The FTSE -0.49% is at 28,504 points, and Piazza Affari leads the league of European stock exchanges, all with negative trends.
Lagarde: With the new shock, we will reconsider interest rates
“Interest rates have reached a level that, if sustained long enough, will contribute significantly to bringing inflation to target. This is the baseline scenario we produced with the end-September forecast, but if there are further shocks we will have to reconsider it.” Scenario: European Central Bank President Christine Lagarde said this in a conversation with the Financial Times
Stock market: Europe still lower mid-session, in Milan (-0.6%) Leonardo in the spotlight
European stock markets continue to decline in the middle of the session following the “hawkish” comments of Federal Reserve Chairman Jerome Powell, who spoke yesterday at the International Monetary Fund. Thus, the Ftse mib index in Milan fell by 0.6%, Paris lost 1.17%, London 1.38%, and Frankfurt 0.77%.
Chinese stock markets: close lower on war fears, Hong Kong is the worst
Chinese stock markets ended the week in negative territory, weighed down by data on the performance of the national economy and concerns about the impact of geopolitical tensions on international trade. At the end of the session, the Shanghai Composite Index fell by 0.47%, to 3038.97 points, while the Shenzhen Composite Index lost 0.42%, falling to 1903.80 points. The Hong Kong stock market was also poor, with the Hang Seng Index closing down 1.8% at 17,203.26 points.
European stock markets: deterioration, London black summit
European stock markets fell at the end of the morning, weighed down by comments from Federal Reserve Chairman Jerome Powell, who assured the market of his determination to increase benchmark interest rates “if necessary.” London is in the black, after GDP and industrial production data showed a recovery is not within reach. In Frankfurt, the DAX index lost 0.73%, and the CAC 40 index in Paris fell by 1.10%. Milan also performed poorly with -0.69%. In London, the FTSE 100 loses 1.30%.
Stock Market: Ftse Mib updated again, down 0.42%
Ftse Mib is updated again. The main index of Piazza Affari lost 0.42% to 28,525
points. The best stock is Leonardo (+2.18%). The worst is Campari, who leaves 3.6% on the floor
Istat, industrial production in September -2% y/y
In September 2023, the seasonally adjusted industrial production index is expected to remain unchanged compared to August and to decline by 2.0% compared to September 2022 based on data corrected for calendar effects. This was revealed by Istat, explaining that on average in the third quarter the level of production increased by 0.2% compared to the previous three months. The seasonally adjusted monthly index shows cyclical increases for capital goods (+1.5%), energy (+1.1%) and intermediate goods (+0.8%) while consumer goods decline (-2.2%). In terms of trend, the index fell by 6.5% for consumer goods production.
European stock markets open lower
European stock markets open lower. In early trading in Frankfurt, the DAX index lost 0.44% to 15,285.75 points. In London, the FTSE 100 index fell by 0.66% to 7,406.49 points. In Paris, the Cac 40 index lost 0.51% to 7,077.52 points. In Madrid, the Ibex-35 index fell by 0.19%. To 9,387.51 points. In Milan, the FTSE MIB index registered -0.38%.
Oil is on the rise
Oil prices rose at the start of the markets, with West Texas Intermediate crude from Texas recording growth of 0.36% at $76.01 per barrel. Brent also advanced to $80.35, rising by 0.42%.
Decreased onset of diffusion
The spread between BTPs and Bonds has begun to decline by 180 points compared to 186 points at yesterday’s close. The yield on Italian 10-year bonds is stable at 4.5%.
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