1.5 hours after the opening Major European indices are showing moderate gains. The FTSE MIB Index in Italy is performing well, standing at 33,782.13, marking a significant gain of 212.15 points or 0.63%. Other Italian indices, including the FTSE Italia All Share, FTSE Italia Small Cap, and FTSE Italia Mid Cap, are also in positive territory with gains ranging from 0.17% to 0.56%. The Euro Stoxx 50, at 4,855.15, is up by 0.57%, reflecting similar positive sentiment in the broader European markets. Key indices such as the DAX (Germany), CAC 40 (France), FTSE 100 (UK), and IBEX 35 (Spain) are all experiencing moderate growth, with gains between 0.52% and 0.92%.
In the Italian stock market, Nexi is leading the gains with a rise of 2.63%, followed by Telecom Italia RNC, which has gained 1.89%. Other stocks like Stellantis NV, Banco BPM, and UniCredit are seeing positive performance, with gains ranging from 0.68% to 0.94%. Commodities are also showing mixed movements. Crude Oil is marginally up by 0.07%, trading at 70.14, while Gold is slightly down by 0.03%, priced at 2608.20. In the forex market, EUR/USD is trading at 1.1140, up by 0.06%, and GBP/USD is also up by 0.06%, trading at 1.3224. Bitcoin is seeing a notable rise of 1.27%, now priced at 58,785 USD. US stock futures are also indicating positive movement, with the Dow up by 0.14%, the S&P 500 by 0.22%, and the Nasdaq 100 by 0.36%.
Additionally, key economic data and events for today, Tuesday, September 17, include several significant releases. In the Eurozone, the ZEW Survey for Current Situation and Economic Sentiment for September is being closely watched. The consensus for the ZEW Survey – Economic Sentiment in the Eurozone is expected to be 17.1, slightly down from the previous 19.2, while the Euro-area survey is projected at 17.6, marginally lower than the previous 17.9. Canada’s August CPI Core (MoM) is expected at 0.3%, with the year-over-year figure expected at 1.7%. The monthly consumer price index (CPI) for August is expected to rise by 0.1%, slightly lower than the previous 0.4%, with the year-over-year CPI anticipated at 2.5%.
In the US, retail sales data for August is expected, with a consensus of 0.2% growth month-on-month, while excluding auto sales, retail sales are expected to grow by 0.3%. Japan’s exports for August previously declined by 10%, with a notable drop in imports by 16.6%, and the trade balance is forecasted to be ¥-1,380 billion, a significant drop from the previous ¥-621.88 billion. Key events for the day include speeches from the ECB’s Elderson at 13:00 (GMT time) and the Fed’s Logan at 14:00, which could provide further insight into central bank policy directions.
