The European stock markets open clearly higher, in line with what happened this morning in the Asian markets that are operational -the stock markets of China and Hong Kong are closed due to the celebration of the Golden Week holiday-, thus following the trail left yesterday by Wall Street.
Among the leading values at the opening, Volkswagen I rises more than 2.15%, to 129.11 euros. Adyen and ING scored slightly more than two percentage points, up to 1,348.40 euros and 9.12 euros, respectively.
Deutsche Boerse is the only value of the Eurostoxxs 50 in negative. The session begins with falls of 0.6%, on 168.32 euros.
At the corporate level, Credit Suisse shares hit new all-time lows yesterday after doubts about the group’s ability to restructure without adding more debt. In addition, the price of the bank’s CDS (cost of insuring its default risk) continued to worsen, exceeding the levels of the financial crisis (270) and reaching 319, which is its historical maximum.
Vodafone would have signed Evercore to sell its fixed network in Spain while it is negotiating a merger in the United Kingdom with CK Hutchinson.
Brussels and Rome agree on new restructuring terms for Monte dei Paschi di Siena with divestments of up to 400 million euros
Markets were buoyed yesterday by the Truss government’s scrapping of its controversial tax cut plan, improving market confidence and sparking a rally in bonds and sterling. In the fixed income market, bonds continue to appreciate, with the consequent drop in profitability. At this time, the Bund sees its IRR fall to 1.8850%, compared to 3.03% for the Spanish bond, 4.197% for the Italian bond or 3.621% for the US ten-year bond.
The bags bounce. Pending statements from central bankers
The month of October got off to a bad start in the early stages of the session, although the indices on both sides of the Atlantic managed to come back and close with gains. Wall Street indices closed with gains of more than two percentage points and the futures of these indices continue to rebound. The future of the DOW JONES adds 0.8%, above 29,726.10 points, the S&P 500 registers 0.9%, above 3,714 points and the NASDAQ 100 rises 1.1%, its futures at 11,360 .90 points.
Today again the members of the central banks speak again, in this case it is the turn of Christine Lagarde, president of the ECB, at 5:00 p.m. and Andrea Enria, a member of the organization, will also speak. Across the Atlantic, FOMC members Lorretta J. Mester, John C. Williams and Mary Daly will also make their respective statements.
In addition, at a macro level today in Europe, the unemployment rate in Spain stands out, which rose by 17,679 people in September, due to the end of the summer campaign, while Social Security gained 29,286 affiliates. In addition, the producer price index will be known in the Eurozone while in the US we will know the Redbook index of retail sales and the JOLTS survey of job offers.
Oil continues, although in a more moderate way, the rally that began yesterday after OPEC +’s intention to substantially reduce production quotas was known. At this time, the Brent oil future is up 0.5% to $89.39 while West Texas is up 0.4% to $84.02.
In the foreign exchange market, the EUR/USD is up 0.4% against the dollar. At this time, the pair moves in the 0.9868 greenbacks. While the pound also continues to rise and, at this time, it moves at 1.1379 dollars.
Cryptocurrencies react with rises. Bitcoin is noted more than 3%, on the 19,814.8 dollars while Ethereum advances more than 3.6%, on the 1,338.56 dollars.