(Telestock) – European stock markets close the last session of the week with a sharp risenear the day’s highs, after the chairman of the Federal Reserve, Jerome Powellhas solidified expectations that the U.S. central bank will cut interest rates next month. “It is the time has come for (monetary, ed.) politics to adapt. The direction of travel is clear and the timing and pace of rate cuts will depend on incoming data, the evolving outlook and the balance of risks,” he told the Jackson Hole symposium.
Powell said “increasingly convinced that inflation is on a sustainable path to return to 2 percent” and stressed that “the cooling of labor market conditions is unequivocal.”
The stock markets of the Old Continent were already benefiting from the renewed optimism towards a further rate cut also by the ECB thanks to the slowdown in wage growth and following the favourable signals emerging from the minutes of the last meeting of the Governing Council.
Plus sign for theEuro / US Dollarwhich shows an increase of 0.71%.Goldup (+1.28%), reaches 2,516.6 dollars per ounce. Rain of purchases on the petrolium (Light Sweet Crude Oil), which shows a gain of 2.41%.
It goes down spreadsettling at +136 basis points, with a decrease of 3 basis points, while the 10-year BTP reports a yield of 3.56%.
Among the Euroland indices good performance for Frankfurtwhich grows by 0.76%, a modest performance for Londonwhich shows a moderate increase of 0.48%, and supported Pariswith a decent gain of 0.70%.
TO Business SquareThe FTSE MIB ended the day with a 1.02% increase, at 33,650 points; along the same lines, the FTSE Italia All-Share gains 1.04% compared to the previous session, closing at 35,836 points. The FTSE Italia Mid Cap (+1.23%); with a similar direction, positive the FTSE Italia Star (+1.2%).
The counter value of 08/23/2024 of trading on the Milan Stock Exchange remains around the levels of the day before: from the closing data, in fact, it appears that the total value was equal to 1.57 billion euros, with a variation of 0.07%, compared to the previous 1.57 billion.
Among the best Blue Chips of Piazza Affari, good ideas on Ivecowhich shows a wide lead of 2.61%. Well set Enelwhich shows an increase of 1.62%. Tonic DiaSorin which shows a nice advantage of 1.58%. In light Unipolwith a large increase of 1.56%.
The strongest sales, however, hit Brunello Cucinelliwhich ended trading at -0.99%.
At the top among Italian stocks mid cap, Alerion Clean Power (+3.23%), Ariston Holding (+3.12%), Multiply Group (+3.07%) and Comer Industries (+3.05%).