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Sunday, October 1, 2023

Bags today September 19 | Europe is cautious and in no particular order, waiting for the Fed

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European stock markets regained momentum in the morning, rising to intraday highs mid-session, with all eyes on the Fed, which begins its two-day meeting today. European stock markets remain cautious and in random order, as investors await the start of the Federal Reserve’s crucial two-day meeting, which will decide on interest rates tomorrow evening. London rises by 0.03%, Frankfurt loses 0.14% and Paris advances by 0.13%. Milan is in the pink jersey halfway through the session and gains 0.51%. (here is the price list in real time).

Italian stock exchange

The run of MPS continues in Piazza Affari (+4.1%), with rumors in the press about the steps for the future of the bank. Also in the spotlight were Tim (+2.6%), who dealt with the events of the network, Nexi (+2.2%) and Leonardo (+2.1%). Mediobanca performed well (+1%), after the nomination committee proposed to the board of directors a shortlist of names for the new board of directors without representatives from Delfin. Cnh and Diasorin decreased (-1.1%). The difference between BTPs and Bunds remains at 177 points, while the Italian ten-year yield is 4.47%. Gold, the safe haven par excellence, rises to $ 1,936 per ounce (+0.5%) (here is the trend of the spread in real time)

Energy and gold

The main price lists are supported by energy (+1%), with the increase in oil prices. The WTI rises by 1.3% to 92.7 dollars per barrel and Brent above 95 dollars (+0.6%). Purchases for the financial sector where banks earn 0.6% and insurance companies 0.7%. Utilities were positive (+0.5%), with the price of gas reversing from the beginning. In Amsterdam, prices rise by 1% to 34.8 euros per megawatt hour.

Asian fairs

Chinese stock markets close trading on negative territory, amid uncertainties over the stability of the economy: the Shanghai Composite index stops just below parity at 3,124.96 points (-0.03%), while Shenzhen’s is at 0. 88% lose and drop to 1,904.65. Positive closing price for the Hong Kong stock exchange. The Hang Seng index rose 0.37% to 17,997.17 points. On the Chinese stock exchanges, the Shanghai Composite index fell 0.03% to 3,124.96, while Shenzhen lost 0.88% to 1,904.65 points.

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Source: Corriere

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