Weak European squares awaiting the ECB. Milan closes in the red (-0.6%)

The uncertainty on the main European markets wins, on the eve of the meeting of the ECB’s steering committee. Piazza Affari lost 0.61% at 26,806 points, Frankfurt 0.38%, London 0.39% and Paris 0.24%. In general, experts believe that tomorrow’s European Central Bank meeting will end in stalemate, postponing monetary policy decisions to the next December meeting.

Meanwhile, the quarterly season continues both in the Old Continent and overseas where the good performances of the big techs, made known between yesterday and today, have not managed to give a decisive boost to the share indices. Wall Street continues at two speeds, with the Dow Jones down 0.25%, while the S&P and Nasdaq gain 0.03% and 0.49% respectively.

Looking at the macro data of the day, today’s communications from the ECB focused on the growth of the aggregate M3 money supply, which in September stood at + 7.4%, down from + 7.9% in August . The average for the three months in August was instead +7.6. The M1 aggregate, which includes cash and overnight deposits, remained unchanged over the month at 11%. Total loans to households fell slightly to 4.1% from 4.2% the previous month, while the growth of business loans rose to 2.1% (from 1.5% a month ago). As for the consumer confidence index in France in October, it fell to 99 from 101 in September. Conversely, consumer confidence in Germany improved again, rising by 0.5 points in November compared to October, to 0.9 points.

In the US, weekly crude oil inventories amounted to 430.812 million barrels, up by 4.268 million barrels compared to the previous week. Oil, meanwhile, continues to trade lower with the WTI falling 1.32% to 83.50 dollars a barrel, and Brent down by 1.52% to 84.34 dollars. On the other hand, gold is more stable, trading at $ 1,793 an ounce.

In the currency, the single currency and sterling respectively fell 0.03% to 1.15 and 0.25% to 1.37 on the greenback, in turn the US currency fell against the Japanese yen (-0.28% ) at 113.83. Cryptocurrencies are also holding back with bitcoin falling below the $ 60,000 mark for the first time since mid-October. Finally, the ten-year BTP yield slips to 0.886%, while the BTP / Bund spread is close to 112 points (111.63). (All rights reserved)

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