Weak and mixed start for the European stock markets while awaiting the Fed minutes and the quarterly report of the chip giant Nvidia. Meanwhile, investors weigh in on new car registrations in October in Germany, France and the United Kingdom. According to data from ACEA, the Association of European Automobile Manufacturers, new cars sold in the European Union, EFTA countries and the United Kingdom were 1,039,253, 14.1% more than the same month of 2022. In the top ten months of 2023, 10,722,930 cars were sold, an increase of 16.7% on January-October last year. In early trading in London the Ftse 100 index lost 0.17% to 7,483.76 points, in Frankfurt the Dax gained 0.13% to 15,923.25 points and in Paris the Cac40 shaved 0.04% to 7,244, 20 points.
Opening with a negative sign also for Piazza Affari, where the Ftse Mib index flat at -0.14% at 29,533.68 points. Meanwhile, the banking risk has not yet ignited Piazza Affari after the blitz of the Ministry of Economy which closed the sale of 25% of the capital in a lightning-fast operation for a proceeds of 920 million. In fact, the Sienese bank, which initially did not make a price, then opened at -5%, thus aligning itself with the sale price of the MEF package (equal to 2.92 euros). Also already Banco Bpm (-1.5%), which some would like to marry with Rocca Salimbeni, and UniCredit (-1.3%) which has come close to getting married in the past. The best are Iveco (+0.8%) and Nexi (+0.7%). On the currency market, the euro extended to 1.0954 dollars (from 1.0943 at the close yesterday) while falling to 161.48 yen (162.30), with the exchange rate between the greenback and the Japanese currency at 147.41. On the energy front, gas is flat at 46 euros per MWh (+0.4%) and oil is slowing down after the recent run: the WTI in January trades at 77.5 dollars per barrel (-0.5%) and the Brent at 81.9 dollars (-0.4%). The price list in real time.
Stable start for the spread between BTp and Bund. In the early stages, the yield differential between the benchmark ten-year BTp (Isin IT0005518128) and the German equivalent duration stood at 173 basis points, unchanged compared to yesterday’s reference. The yield of the benchmark ten-year BTp fell, marking a first position at 4.30% from 4.34% at the end of the day before.
Asian stock exchanges
Stock markets in Asia and the Pacific marked by weakness with Tokyo closing little changed (Nikkei -0.1%) with purchases in technology not mitigating sales in the automotive sector. On the currency market, the Japanese currency appreciates against the dollar, at 147.70, on the prospects of a slowdown in inflation in the United States and a pause in the Fed’s monetary tightening. Among the Chinese markets, Shanghai is marginal at -0.01% while Shenzhen it lost 0.38% due to the persistent uncertainties of the country’s economy. Little change in Hong Kong (+0.02%). Seoul rose 0.77% and Sydney rose 0.28%.
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