December 7, 2022

Wire Service Canada

Complete Canadian News World

Stock markets today 11 november. EU listings are slowing with Wall Street. High yield on government bonds

EU Stocks Positive, BTP Yields Soar

European stock markets continue to rally as investors look forward to the next moves by central banks after inflation slows in the US. Emphasis is also placed on quarterly results, which are currently showing positive results. On the currency front, the euro rose against the dollar to 1.0260 in London.

The Stoxx 600 Index rose 0.7%. Paris (+1.2%), Frankfurt (+0.7%), London (+0.3%) and Madrid (+0.2%) performed well. Price lists are backed by cars (+1.8%) and IT (+2%). Banks (+0.3%) and insurance companies (+0.7%) rose without particular momentum. Utilities are performing well (+0.6%), while the price of gas continues to fall thanks to the mild climate that does not lead to any decrease in storage. In Amsterdam the price drops to 103 euros per megawatt-hour, down 8.3%. The energy sector didn’t move much (-0.08%) with Oil posting a sharp rise. West Texas Intermediate crude rose 2.5% to $88.67 a barrel and Brent crude to $95.92 (+2.4%).

The session arrives for government bonds. The spread between the BTP and the Bund remains at 200 basis points, with the Italian 10-year yield rising to 4.04% (+6 basis points). The Spanish 10-year average also increased to 3.06% (+5 points) and the Greek to 4.42% (+2 points).

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