The main European stock exchanges recover ground but continue to travel cautiously. In Milan, Leonardo shares push the list which however remains flat. The spread between Btp and German Bunds rises to 117,5 points – Follow the LIVE
On the first day of Christmas week, the European stock markets are trying to recover ground after a start to the session characterised by redTrading volumes are limited ahead of the Christmas holidays, with markets closed from December 24 to 26. Wall Street will also be closed for Christmas and will have an early close on Christmas Eve.
After the Fed’s slowdown in rate cuts, investors are focusing on the US consumer sentiment gauge today. Tokyo’s inflation data is due on Friday, which is important for future Bank of Japan decisions.
READ MORE: Stocks, the desire for risk returns. USA and Asia on the rise
In Milan, among the rising stocks there are Leonardo, Prysmian e Inwitwhile Campari and Azimut suffered the greatest losses. Snam is in the red after the Competition and Market Authority started ainvestigation into the acquisition of Edison Stoccaggio by the company. Also Italgas ends up under the scrutiny of the Antitrustsince the AGCM has decided to open an investigation into the concentration operation relating to the acquisition of the exclusive control of 2i Rete Gas.
On the macroeconomic front, the UK GDP remained unchanged in the third quarter, while Spain’s grew by 3,3%, but below expectations. Theeuro/dollar is stablewhile gold advances to $2.628,6 an ounce and oil gains a fractional 0,44%.
Lo BTP-Bund spread widens to 125 basis points, with an increase of 11 points, and the yield on the 10-year BTP rises to 3,49%.
In Asia, stock markets are mostly up, with Tokyo is closes positive of 1,19%, supported by stocks from Advantest and Toyota. In contrast, China recorded a negative performance.
In the insurance sector, Aviva has reached an agreement to acquire Direct Line for £3,7 billion, representing a significant premium to Direct Line’s closing share price. The offer will be a mix of cash and shares, with each Direct Line shareholder receiving 0,2867 Aviva shares, 129,7p in cash and up to 5p in dividends.
Ferment in the automotive sector with Nissan and Honda have signed a memorandum of understanding to explore the creation of a joint holding company. The aim is to improve competitiveness and accelerate technological innovation. The new holding company’s shares will be listed on the Prime Market of the Tokyo Stock Exchange, with the listing scheduled for August 2026. This merger will create the world’s third-largest automotive group.
