Europe is going the opposite way
Major European stock markets are moving at double speed in light of the upcoming quarterly reporting season and the European Central Bank’s interest rate decision expected on Thursday. A 25 basis point cut is expected as the dollar rises to over €0.91, while the spread between German BTPs and German Bunds falls to 127.7 points, with the Italian annual yield down 0.9 points at 3.55%. German shares rose 0.8 points to 2.27%. The best is Madrid (+0.4%), followed by Milan and Frankfurt (+0.3% each), with little change in London (-0.03%), and weak Paris (-0.3%). US futures were mixed in the absence of macroeconomic data. OPEC’s monthly report and speeches by Christopher Wheeler and Neel Kashkari from the Fed are expected today.
Crude oil slows further (WTI -2.73% to $73.5/bbl) and gas appears to have moved a bit (+0.08% to €39.91/MWh).
On the other hand, gold continues to rise (+0.64% to $2658 per ounce), along with iron (+1.21% to $794.5 per ton) and steel (+1.07% to $3492 per ton) as a result of the rise. Stimulating economic growth in China.
Semiconductor producers Asm (+1%) and Aixtron (+0.48%) slow down, while STM declines (-0.1%). Oil companies BP (-0.57%), Shell (-0.26%) and TotalEnergies (-0.05%) also fell, while Eni remained in positive territory (+0.17%). In cars, Ferrari still shines (+1.66%), followed closely by Stellantis (+0.32%). Porsche (-2.54%), Volkswagen (-0.54%), and Renault (-0.48%) fell. In no particular order, banks Caixabank (+1.53%), Bnp (+0.5%), Intesa (+0.15%), Commerzbank (+0.12%), Popolare Sondrio (+0.07%), Unicredit (+0.02%), Banco B BM (-0.19%), Bieber (-0.31%) and MBS (-1.35%)
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