Wall Street starts negative after US employment data. The Dow Jones, which was weak at the opening, lost 0.32%. The Nasdaq and S&P 500 underperformed, both with losses of around 0.4%.
And European stock markets are also slowing somewhat, reflecting stronger-than-expected American employment, which provides scope for new interest rate hikes from the Fed. After a temporary decline, Milan continues to lead, with the FTSE MIB at +0.96%. This is followed by Frankfurt (+0.53%), Paris (+0.55%) and London (+0.52%), all with growth of around half a percentage point.
At the top of Piazza Affari is the banking sector, with Bper Banca, Banco BPM and Banca MPS each above +3.5%. Intesa Sanpaolo also performed well, gaining 1.25% after announcing its investment in Space. Banca MPS and Unicredit also performed well, recording +3.27% and +2.8% respectively.
The spread remains a particular observation: the difference between BTPs and federal bonds is currently 204 basis points (the yield on our ten-year bond is 4.98%).
The euro-dollar exchange rate has hardly changed: 1.056 dollars for one euro. Oil prices are also holding steady after falling sharply in recent days, with December Brent futures at $84 a barrel, a far cry from the $100 it hit in recent weeks.