Slight decline for the BTP/Bund spread, after the Moody's agency on Friday left the rating on Italian debt unchanged, a step above the speculative level, and raised the outlook, from negative to stable. The yield spread on 172-year Italian and German government bonds is 4 basis points, -<> from Friday.
Quiet stock exchanges today, Milan's Ftse Mib index falls 0.15%. Piazza Affari rose 3.49% last week, influenced, like the other European and American stock exchanges, by the drop in inflation in the United States.
Today's macro data includes the decline in producer prices in Germany. -11% in October compared to a year earlier, it is the fourth consecutive month of decline.
In the afternoon, the markets in Argentina were under observation after the victory of the ultra-liberal Javier Milei.
Meanwhile, a new twist in the story involving Open AI, the company behind ChatGPT. On Friday night, the surprise firing of CEO and co-founder, Sam Altman. Reasons not entirely clear, the board wrote that Altman "has not been consistently truthful in his communications with the board." In his place, the former head of Twitch, Emmett Shear, was indicated.
And today Microsoft's number one, Satya Nadella, announced that Altman will join Microsoft to lead a new advanced AI research team. With him also the former president of Open AI, Greg Brockman. After the news, Microsoft's stock went from negative to positive, rising 1.50% in the pre-market period.
On the energy front, gas rose, +2.5%, to 46.2 euros per megawatt hour. Brent oil rose 1.4%, January 2024 futures are trading at $81.7 a barrel.