Positive start for European stock markets in the first session of the week. The detachment of coupons scheduled today for 16 companies including Poste, Snam and Terna weighs more than 0.2% on the Ftse Mib index of Piazza Affari, but the main index of the Italian Stock Exchange opens in green (+0, 5%) driven by Bper and MPS. Fincantieri in the red on the day of the capital increase.
VOTING IN FRANCE ON SUNDAY
The week of the European stock markets opens with eyes still focused on politics, with the aftermath of the elections that will lead to the vote scheduled for France Sunday 30 June (for the first round). The Ifo data on German business confidence is expected to be published today, while the first data on June inflation from France, Spain and Italy are scheduled for Friday.
US INFLATION
Also on Friday, in the USA, the publication of thePCE inflation, the Federal Reserve’s preferred data for monetary policy assessments. At the moment, US central bank officials expect only one cut in 2024, despite the slight drop in inflation recorded in May. Tuesday 25 June, again in the USA, all eyes on the consumer confidenceanother fundamental indicator of economic sentiment.
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BANK OF JAPAN READY FOR NEW CUTS
In Japan the stock exchange Tokyo opens the week on a positive note, with the Nikkei index gaining 0.56%. What holds sway is the Bank of Japan’s openness to a further increase in interest rates to keep inflation at bay. An approach that emerged from the minutes of the meeting of 13 and 14 June, in which it was decided to reduce the purchase of government bonds. Negative session for Chinese stock marketswith Hong Kong and Shanghai losing more than one percentage point shortly after the closure.
CURRENCIES AND RAW MATERIALS
On the currency market, euro/dollar barely moved at 1.069 (from 1.068 at the close on Friday). The dollar/yen cross is indicated at 159.7 dollars (158.5 dollars): the Japanese currency is therefore approaching the threshold of 160 yen for one dollar, the lowest level for 35 years. The price of the petrolium, with August Brent at 85.15 dollars per barrel (-0.11%) and the WTI of the same maturity at 80.64 dollars (-0.11%). Gas on the Amsterdam platform grows by 0.2% to 34 euros per megawatt hour.
