European Markets Close Week Positive Amid Central Bank Moves

European markets ended the week on a positive note, buoyed by gains on Wall Street and in Tokyo, marking the final full week before the Christmas holidays. The cautious rise comes amid Wall Street's positive trend and Tokyo's gains, with the Bank of Japan raising rates as expected.

Market Performance

Piazza Affari led the gains in Europe, rising by 0.66% to 44,757 basis points. Saipem led the gains, while Juventus also saw significant growth.

Top Performers

Saipem's shares rose following an extension of an offshore drilling contract in Norway. Leonardo also performed well after announcing two contracts in the United States. Tim saw gains after Poste Italiane increased its stake in the company.

Geopolitical Factors

The European Council agreed to provide Ukraine with 90 billion in aid through common debt, without using frozen Russian assets.

Global Market Trends

Wall Street also showed progress, driven by renewed confidence in artificial intelligence stocks. Oracle closed a joint venture deal to keep TikTok operational in the United States.

US Market Volatility

Volatility is expected due to the simultaneous expiration of options on stocks, indices, and futures, totaling $7.1 trillion.

Currency Market

The Japanese yen fell sharply despite the Bank of Japan's monetary tightening. The euro reached a historic high against the yen.

Currency Exchange Rates

Here are the latest currency exchange rates:

The euro's performance against the dollar remains slightly unfavorable.

Commodities

Oil prices rose, with WTI at $56.32 a barrel and Brent just over $60. Gold remained strong at $4348.84 an ounce.

Italian Banks

Mps shares rose after Minister Giancarlo Giorgetti denied interference in the sale of Siena shares.

Italian Banks Performance

Unicredit shares declined.

Market Movers

Cucinelli, Tenaris, Moncler, and Campari were among the biggest decliners.

Here's a quick look at how the major European markets performed:

European markets generally saw slight gains.

Fixed Income

Yields on the secondary market rose, but the spread between BTP and Bund remained stable at 65 basis points.

Bond Yields

The BTP rate closed at 3.55%, while the Bund rate was at 2.9%.

According to Pietro Labriola, the CEO of Tim, Poste Italiane's increased stake in the company strengthens the group's stability and ability to invest in key technological infrastructure.

Intermonte noted international speculation about Altice and sector consolidation in France, which could lead Iliad to reduce its presence in Italy and accelerate an agreement with Wind 3. Tim could indirectly benefit from this due to a reduction in domestic market competitors.

Commodity Prices

Here's a summary of the key commodity prices:

Oil and gold prices both saw increases.