After yesterday's record highs on Wall Street, the European stock exchanges they start on equal terms, but within a few minutes they lose ground, as tensions rise in the Middle East after Israel has begun its ground invasion of Gaza City. However, the eyes of the markets are focused on the United States, where the top of the fed which is expected to announce a tomorrow interest rate cut. Market futures are pricing in a reduction in interest rates tomorrow, while CME FedWatch calculations assign a 4% probability to a major 50 basis point cut. In the background, attention remains high on the Francia, after yesterday the central bank He lowered his economic forecast for the next two years, warning of downside risks from budget uncertainty following yet another government collapse, the third in just over a year.
In this context, on European stocks, all the main stock markets are falling, with Business Squarewhich falls below 43 thousand points. At the bottom of the Ftse Mib are placed Leonardo and banks, in the wake of new rumors about the government's possible postponement of the use of tax credits until 2027. Down MPS and Mediobanca on the day when The terms of the takeover bid launched by the Sienese bank for Piazzetta Cuccia reopen today and will remain open until September 22nd., with the goal of reaching 80% of the capital. In the red Telecom Italy.
On the contrary, after the promotion received from Mediobanca, in pole position there is instead Classic Ferrari for sale, followed by a wheel from Prysmian and Pirelli.
On the currency market, the dollar weakens further to 1,1787 for a euro from 1,1760 yesterday at the close, while on the energy front, prices of Petroleum, with Brent and WTI standing above $67 and $63 a barrel respectively.
Down 0,2% to 32,1 euros per megawatt hour price of natural gas in Amsterdam. Finally, a new record for the The spot contract gained 0,16% to $3.684 an ounce after rising to a high of $3.689. The benchmark futures contract, however, was little changed (-0,02% to $3.685).
Slightly declining start for the spread between Italian government bonds and German government bonds. The yield spread between Italian and German government bonds narrowed to 80 basis points at the opening, down from 81 yesterday, already at its lowest level in fifteen years. The yield on the Italian benchmark bond (October 2035) is forecast at 3,49% at the opening, up from 3,5% the day before.
