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(Il Sole 24 Ore Radiocor) European stock markets rising modestly, even if prudence reigns supreme in view of the American elections which will be held tomorrow 5 November. From the latest polls the two candidates, Kamala Harris and Donald Trump, are neck and neck. Also making the picture more uncertain is the upcoming meeting of the FOMC, the operational arm of the Federal Reserve, scheduled for Thursday. Analysts take it for granted that a new cut in the cost of money will be launched. On the same day, the British Central Bank will also decide on monetary policy. Furthermore, in these days it will also be necessary to monitor the meeting – which starts today and will end on November 8th – of the Permanent Committee of the National People’s Congress, the highest Chinese legislative body, which could launch measures to support the economic situation. In particular, according to some analysts, they could be announced fiscal stimulus measures of at least 2 trillion yuan ($280 billion), integrating the monetary stimulus package presented at the end of September. Meanwhile in Europe the quarterly reporting season is increasingly coming to life. Milano, after a flat start, it took the upward path, while the spread stands at 125 points (127 points at the closing on Friday). Also the yield of the ten-year BTp benchmark is equal to 3.68%, in line with Friday evening. On the bond front, attention is focused on US Treasuries, with the 10-year yield moving slightly away from 4.4% after Harris’ score in the polls recovered in recent days.
Saipem does well in Piazza Affari, Campari, Moncler and St. are still down
Shares in the oil sector are in evidence on Piazza Affari, supported by the trend in crude oil, rising after the announcement that the increase in production expected in December by OPEC+ has been postponed. In particular, the ones are well bought Saipem. The banks are wary, but Unicredit continues to rise after last week’s good performance (in five sessions it did +4.9%). They are still Davide Campariafter last week’s tumble, when it left 19.9% on the ground, following the lower-than-expected quarterly result. I’m under the lens Moncler with the market wondering about the rumors about an interest in Burberry. The group said it “does not comment on unsubstantiated speculation.” Meanwhile in the last quarter they lost 5.9%, also suffering from the quarterly result judged below expectations. Finally, things are still bad Stmicroelectronics (last week they did -5%), always in the wake of the decline in the sector. In Paris, however, Essilorluxottica stands out, after the French site Bfmtv reiterated the indiscretion that Meta Facebbok is about to purchase 4-5% of the capital.
Euro-dollar stable, oil rising after OPEC+ announcements
On the currency, theeuro it is stable on the dollar at 1.089 (1.084 closing on Friday). Oil is rising with January Brent at 74.34 dollars a barrel (+1.7%) and December WTI at 70.71 dollars (+1.76%). Over the weekend, OPEC+ member countries, including Saudi Arabia and Russia, announced that they would extend oil production cuts until the end of December, thus postponing the expected increase in output to cope with falling prices. prices. Gas also rises to 39.62 euros per megawatt hour (+1.14%), while gold stands at 2,743.95 dollars per ounce (-0.19%).
Chinese stock markets positive, Tokyo closed
Chinese stock markets are on the rise, ahead of presidential elections and a probable interest rate cut in the United States. Expectations are also rising for the decisions that the Chinese Communist Party will adopt. Tokyo is closed for holidays. The Shanghai Stock Exchange composite index closed trading up 1.1%. The automotive sector is in great evidence thanks to the sales achieved in October. BYD rose by almost 6% in Shanghai after exceeding 500 thousand units of electric and hybrid vehicles sold in the month, a result that allows us to target 4 million vehicles in 2024. Geely Automobile (listed in Hong Kong) has updated its own monthly record with 226,686 vehicles. Statistics are also growing for smaller companies such as Li Auto (over 51 thousand vehicles), Xpeng (almost 24 thousand). Meanwhile, on the macro front, in the region, the MSCI Asia stock index strengthened by 0.71% while the Japanese markets are closed today for holidays. The dollar slipped broadly as polls showed the US election to be hotly contested. The yuan was quoted at 7.0929 per US dollar, 0.52 percent higher than the previous close of 7.13.
Well, well, well! Buckle up, folks, because we’ve got a financial rollercoaster ahead, and I’m not just talking about the thrill of watching your stocks go up for a change! The European stock markets are rising modestly, but prudence is the name of the game, especially with the American elections looming tomorrow. Yes, the US elections—the ultimate game of dodgeball where everyone plays against logic and reason!
According to the latest polls, Kamala Harris and Donald Trump are neck-and-neck—like two stubborn goats head-butting for supremacy. Meanwhile, investors are holding their breath, waiting for the FOMC meeting on Thursday. Will they cut interest rates? Will they decide to just take a nap instead? Analysts are betting on the former, and let’s hope they’re right. I mean, we all need something to cheer for—even if it’s just cheaper money!
And then there’s the British Central Bank with its own monetary policy decisions, which is sort of like watching two rugby matches at the same time—confusing and utterly chaotic. But wait! There’s more! The Permanent Committee of the National People’s Congress in China is also top priority—imagine that committee meeting, a bunch of suit-wearing people making monumental decisions while the rest of the world is wondering who’s the best Avenger. Analysts are hoping for a fiscal stimulus of at least 2 trillion yuan (that’s $280 billion for us non-mathematicians)—basically, the equivalent of the Chinese government saying, “Here’s some cash, go buy yourself something nice!”
Saipem Stands Tall, but Campari is Flat!
Now, onto the stock market specifics! Saipem is performing well in Piazza Affari, and they’re being supported by rising crude oil prices, which—let’s be honest—is probably the most exciting news from an oil company since they discovered a way to drizzle oil over popcorn. But if you think that’s the headline act, wait until you hear about Davide Campari—poor guy, he’s still reeling from a 19.9% tumble last week. Can you imagine that drop? It’s like falling off a bar stool—one minute you’re feeling great, and the next, you’re picking yourself up wondering what just happened!
And Moncler? Their stock is also under a microscope thanks to rumors about Burberry, as if they’re both just awkwardly standing next to each other at a school dance, wondering who’s going to make the first move. Meanwhile, in Paris, EssilorLuxottica is basking in the limelight, with news that Meta (Facebook’s cooler, younger sibling) might be eyeing them up for a capital purchase. Talk about a corporate Tinder match!
Stability with a Side of Oil
The euro is holding stable against the dollar (at 1.089 for those keeping score), while oil prices are on the rise thanks to OPEC+ deciding to keep production cuts in place. Oil is a bit like that one friend who constantly keeps asking for more attention, isn’t it? And natural gas has joined the party as well, increasing by 1.14%. Meanwhile, gold might be taking a breather, standing at $2,743.95 per ounce, down a smidge. Just remember, folks: a little sparkle can go a long way, but don’t let it blind you!
Asian Markets on the Up!
Switching gears to the East, we see positive momentum in the Chinese stock markets ahead of these US elections, which seem to have the whole world on edge. The Shanghai Composite is up 1.1% as the automotive sector is making waves—BYD is particularly happy with its sales of electric vehicles. Meanwhile, over in Japan, the market is closed. Probably to rest after all that excitement, or maybe they’re just having a national daydream. Who knows?
So there you have it! A whirlwind of stats, politics, and humor just bursting at the seams. Whether you’re an investor biting your nails or just someone trying to make sense of this economic comedy act, one thing’s for sure: tomorrow is going to be spectacular. Cheers to keeping an eye on the markets and hoping for brighter days ahead! And remember, if your stocks do tank, at least you can drown your sorrows in a good bottle of Campari—or better yet, a Saipem-sized one! 🍸
Listen to the audio version of the article
(Il Sole 24 Ore Radiocor) European stock markets are experiencing modest gains today, yet a cautious sentiment prevails as investors keep a close watch on the American elections scheduled for tomorrow, November 5. Recent polling indicates a near tie between candidates Kamala Harris and Donald Trump, increasing uncertainty in the markets. Adding to this atmosphere of unpredictability, the Federal Reserve’s Federal Open Market Committee (FOMC) will convene on Thursday to make important decisions regarding monetary policy, with many analysts predicting a likely interest rate cut. On the same day, the Bank of England will also reveal its monetary policy direction. Additionally, with great attention, market participants are observing the Permanent Committee of the National People’s Congress, China’s highest legislative authority, which has commenced meetings today and will run until November 8. Analysts anticipate potential announcements of significant fiscal stimulus measures, amounting to at least **2 trillion yuan** ($280 billion), in order to bolster the Chinese economy following last month’s monetary stimulus initiation. Meanwhile, the European quarterly earnings season is gaining momentum, with **Milano** showing an upward trend, reversing a flat start to the day. The spread currently stands at 125 points, a slight improvement from Friday’s closing of 127 points. The yield on the benchmark ten-year **BTp** remains stable at 3.68%, consistent with the previous Friday evening. In the realm of bonds, U.S. Treasuries are under scrutiny, as the yield on ten-year notes slightly retreats from the 4.4% threshold following Kamala Harris’s recent surge in poll ratings.
Saipem shines in Piazza Affari, while Campari, Moncler, and STMicroelectronics face challenges
Shares in the oil sector have gained prominence on **Piazza Affari**, buoyed by a favorable crude oil trend after OPEC+ announced a delay in its anticipated production increases for December. Notably, **Saipem** is witnessing an uptick in buying interest. Despite banks exercising caution, **Unicredit** continues to see upward movement following its strong performance last week, where it recorded a notable **4.9% increase** across five trading sessions. In contrast, **Davide Campari** remains under pressure after suffering a significant **19.9% decline** last week due to lower-than-expected quarterly results. Meanwhile, **Moncler** finds itself in the spotlight amid market speculation regarding potential interest from **Burberry**, to which the group has responded by stating it does not comment on unsubstantiated rumors. In the latest quarter, Moncler reported a **5.9% decrease** in revenue amid scrutiny of disappointing quarterly results. **STMicroelectronics** also struggles, having dropped **5%** last week, weighed down by continued sector declines. Over in Paris, **Essilorluxottica** stands out following reports that Meta (formerly Facebook) is poised to acquire a **4-5% stake** in the company.
Euro-dollar remains stable, while oil prices rise after OPEC+ decisions
On the currency front, the **euro** is stable against the **dollar**, trading at **1.089**, up slightly from **1.084** at Friday’s close. **Oil prices are on the rise**, with January Brent crude priced at **$74.34 per barrel**, reflecting a **1.7%** increase, while December WTI crude is trading at **$70.71**, up **1.76%**. Over the weekend, OPEC+ member nations, including both **Saudi Arabia** and **Russia**, communicated their decision to extend oil production cuts through the end of December, thus delaying an anticipated rise in output that was geared towards addressing declining prices. In parallel, gas prices also rose to **€39.62 per megawatt hour**, reflecting an increase of **1.14%**, while gold remains stable at **$2,743.95 per ounce**, a slight decrease of **0.19%**.
Chinese stock markets see upward trend, Tokyo markets closed
Chinese stock markets are witnessing a positive trend, buoyed by anticipation surrounding the upcoming U.S. presidential elections and a potential interest rate cut. Investors are keenly awaiting decisions from the Chinese Communist Party. The Tokyo stock exchange is closed for holidays, while the **Shanghai Stock Exchange’s composite index** finished up by **1.1%**. The automotive sector is notably robust, benefiting from strong sales figures in October. **BYD** experienced a nearly **6% rise** in Shanghai, having surpassed **500,000 units** of electric and hybrid vehicle sales for the month, setting ambitious targets of **4 million** vehicles for 2024. **Geely Automobile**, also performing strongly, has recorded a new monthly high with **226,686 vehicles sold**. Likewise, smaller companies like **Li Auto** (with over **51,000 vehicles**) and **Xpeng** (nearly **24,000 vehicles**) are also showing positive sales trends. On the broader macroeconomic front in the region, the **MSCI Asia stock index** has strengthened by **0.71%**. Meanwhile, the dollar has weakened as polls indicate a highly contested U.S. election, with the **yuan** trading at **7.0929 per dollar**, reflecting a **0.52%** increase compared to the previous close of **7.13**.
Prices are climbing as well, with natural gas up by **1.14%**.
Meanwhile, gold prices are seeing a slight decline, resting at **$2,743.95** per ounce. This leisurely dip, however, comes at a time when many investors fancy a little sparkle in their portfolios but should remember not to let it blind them.
In Asia, we have witnessed a surge in Chinese stock markets, buoyed by a generally positive sentiment as the nation anticipates the US elections. The Shanghai Composite has risen **1.1%**, thanks in part to the thriving automotive sector, particularly **BYD**, which is celebrating strong sales of electric vehicles. Today, the Japanese markets are closed, perhaps in a collective moment of reflection or maybe just savoring their day off after a robust week of trading.
So there you have it: a colorful tapestry of economic developments interwoven with political intrigue and the occasional touch of humor. Investors may be on the edge of their seats, but they can also indulge in a little optimism—because tomorrow promises to deliver even more twists and turns in this financial saga. Here’s to hoping for favorable outcomes and smooth sailing ahead, and if things don’t pan out, at least there’s always a good drink to take the edge off! Cheers! 🍹
