Today’s Stock Exchanges, December 5th. Pause in Europe after the rally at the beginning of the year. Gas descent stops
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MILAN – European stocks are taking a breather after their early year rally and are trading lower this morning. Observed number one remains inflation. After the slowdown in France, Germany and Spain are also expecting similar signals from Italy, with Istat releasing its preliminary estimates for December today.
The markets then weigh the indications received from the minutes of the last meeting of the Fed spread yesterday. The US central bank confirmed its aggressive policy on rates, excluding cuts for 2023 and asked not to give in to easy optimism, even if inflation appears to be more under control.
Positive indices in Asia: Tokyo gained 0.4% and Shanghai 1.01%
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Gas descent stops
Europe opens down
After three days of consecutive increases, the first profit-taking arrives and the stock exchanges in Europe open lower. The Fed’s minutes have increased fears of further rate hikes, London drops 0.12% at the opening, Paris 0.47%, Frankfurt 0.39%, Madrid 0.28 percent.
Gas descent stops
Gas slightly down at the beginning of the day, slipped briefly below the threshold of 65 euros to 64.3 euros and then fluctuated and recovered. The prices of the TTF, the futures with delivery in February 2023, are volatile and after a few trades the price rises to 66.25 euros per megawatt hour, with an increase of 1.8% on the previous day’s prices.
Stable spread in startup
At the start of the session on the bond market, the spread between Italian and German government bonds, 10-year BTPs and Bunds returned to 200 basis points. The yield on the Italian 10-year bond is stable at 4.28%.
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