European bourses negative. Milan holds steady

(Teleborsa) - The major European markets dip into negative terrain, while Piazza Affari manages to avoid a selling spree, ending the session near the flatline. Meanwhile, the US stock market is trading lower.

EUR / USD trades down -0.4% in a weak session. Gold loses -0.75% to stand at 2,600.5 dollars per ounce. Light Sweet Crude Oil looks bullish as it advances to 71.22 dollars per barrel.

The Spread goes down to +113 basis points, an impressive reduction of 6 BPs over previous levels, with the Italy BTP 10-year yield at +3.51%.

Among the markets of the Old Continent, Frankfurt drifts -0.38% lower, London totters along with a modest -0.35% decline, and a sluggish day for Paris, which drops -0.57%.

At close, there is no significant change at the Milan exchange, with the FTSE MIB settling at 34,186 points, near its previous level; similarly, the FTSE Italia All-Share has neither shame nor gain as it closes unchanged at 36,391 points.

The FTSE Italia Mid Cap closes sideways (-0.03%); the FTSE Italia Star eases -0.25%.

MPS Bank (+2.32%), Bper (+1.42%), Hera (+1.18%) and ENI (+1.05%) top the ranks of Milan's large-caps.

Stmicroelectronics sees the heaviest sell-offs, finishing trade -1.60% lower.

Interpump Group trades with a small loss of -1.16%.

Tottering Buzzi dips -1%.

Prysmian is definitely weaker with a -0.74% decrease.

Rai Way (+2.42%), Acea (+2.08%), Caltagirone (+1.56%) and Philogen (+1.56%) are among Italy's top mid-cap stocks.

Comer Industries reports the heaviest losses, ending the session -2.21% down.

Troubled Moltiply Group falls -1.89%.

Cementir slips just under the flatline with a -1.5% decrease.

LU-VE Group contracts moderately by -1.42%.

Among the macroeconomic rendez-vous that might have high influence on the markets:

Monday, 12/30/2024
1:30 AM Japan: manufacturing PMI (expected 49.5 points; prev. 49 points)
9:00 AM Spain: consumer price index, yearly (expected 2.6%; prev. 2.4%)
9:00 AM Spain: consumer price index, monthly (expected 0.3%; prev. 0.2%)
3:45 PM USA: Chicago PMI (expected 42.7 points; prev. 40.2 points)
4:00 PM USA: pending home sales index, monthly (expected 0.9%; prev. 1.8%)

Tuesday, 12/31/2024
3:00 PM USA: FHFA house price, monthly (expected 0.5%; prev. 0.7%)
3:00 PM USA: S&P Case-Shiller, yearly (expected 4.1%; prev. 4.6%).

(Teleborsa) 12-30-2024 06:02 PM