European stock markets improved with indicators from Wall Street
Major European stock markets are dragging their feet after 3 hours of trading and US futures are heading higher. The best is Madrid (+1.33%), followed by London (+0.74%), Milan (+0.5%), Frankfurt (+0.28%) and Paris (+0.13%). From the operating rooms, we take a look at the Federal Reserve’s minutes scheduled for tomorrow, followed by the European Central Bank’s minutes on Thursday. Consumer Confidence arrives from the Eurozone and from the United States of America, the annual Red Book of Trade, the Richmond Fed Index and the American Petroleum Institute’s (API) Weekly Crude Oil Inventories forecast.
The spread between German 10-year BTPs and notes fell to 192.9 points, with the Italian annualized yield up 0.3 points to 3.925% and the German one by 1.2 to 1.997%. Crude oil rose (WTI +0.46% to $80.37 per barrel) and above that natural gas (+1.57% to €117.96 per megawatt). Gold holds (+0.3% at $1747.14 an ounce), silver is doing well (+2.24% at $21.16 an ounce), steel is more cautious (+0.52% to $3687 a tonne).
Buyings are concentrated on oil companies BP (+5.49%), Tenaris (+4.48%), TotalEnergies (+3.85%), Eni (+3.41%) and Shell (+3%), while Saipem slows down (+1.39%). Semiconductor producers Osram (-1.5%) and Soitec (-1.36%) were weak, while STM was more cautious (-0.46%). Luxury slows down due to new restrictions on Covid in China: Hermes sells 1.59%, Moncler 1.39% and Lmh 1.23%. Carmakers Volvo (+0.4%) and Stelantis (+0.36%) fared positively, while Ferrari remains weak (-1.34%). The banks are in no particular order: Caixabank leads (+2.57%) and Santander (+2.23%), followed by Banco Bpm (+1%) and Intesa (+0.95%), more cautious Bper (+0, 6%) and Unicredit ( +0.53%), SocGen Bank is weak (-0.48%), Commerzbank (-0.47%) and Mps (-1.78%).
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