Financial Markets Daily Report

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Global stock markets started the week on a positive note, with slight increases for almost all the developed stock market indices.

Most of the European stock market indices decreased on Friday while the main U.S. indices registered slight increases.

Yesterday markets exhibited a mixed performance as most U.S. and European stock market indices declined (with the exception of the Spanish Ibex 35 and the Portuguese PSI 20).

European sovereign yields edged up on the back of upbeat comments from the ECB's Chief Economist Peter Praet, which gave investors greater confidence in the ECB's intentions to gradually wind down net asset purchases in the coming months.

Yesterday, risk aversion returned to European markets (although less sharply than last week) as investors reacted to Italian PM Giuseppe Conte's maiden speech in the Senate.

Advanced financial markets started the week in an optimistic mood. Stock market indices advanced moderately both in the U.S. and Europe (except for the Italian MIB).
 

Markets ended the week on a positive note as stocks rallied, U.S. and German sovereign yields ticked up and euro area peripheral sovereign spreads declined strongly.

Financial markets showed a less negative sentiment on Italian assets, as M5S and Lega closed a new government deal that eased concerns on euro break-up.

Investors exhibited a more optimistic mood after the safe haven episode experienced on Tuesday.

Political uncertainty in Italy triggered another flight-to-quality episode in global financial markets.

European stock markets edged down, with the Italian FTSE MIB leading the losses and declining more than 2%.

European stock markets were mixed, with the Ibex and the Italian FTSE MIB loosing 1.7 percent and 1.5 percent respectively.