(ANSA) – MILAN, SEPTEMBER 25 – European stock markets were weak in early morning trading, with concerns about the macroeconomic picture holding back investors awaiting new indications from central banks on reducing the cost of money. Paris fell 0.5%, Frankfurt 0.4% while Milan (-0.05%) and London (+0.07%) oscillated around parity. US futures were also weak after the S&P 500 marked a new record yesterday, in the wake of the appetite for risk triggered by the Fed’s major rate cut last week. No significant macro data are expected today, while tomorrow both Fed President Jerome Powell and ECB President Christine Lagarde will speak, and US GDP and unemployment benefits will arrive. Meanwhile, the Swedish central bank also cut rates by 25 basis points, while China continues to roll out measures to support the economy, cutting rates to 2% on one-year loans. The expectation of new cuts by the ECB supports the bond market, which consolidates the progress of the last few sessions: the yield on BTPs is slightly down to 3.46% and the spread with the Bund is also reduced by one basis point, to 132. At Piazza Affari, Unicredit (+1.2%), Prysmian (+0.9%) and Inwit (+0.7%) are advancing while Nexi (-1.3%), Stm (-1.3%) and Stellantis (-1.3%) are sliding. (ANSA).
2024-09-25 14:14:30