The last session of the week is in the name of profit taking for the stock markets of Europe and the United States (Nasdaq aside), at the end of yet another rollercoaster week, in which the only constant has been and still is today the continuous rally of safe haven raw materials such as gold and silver to which, after a break yesterday, today oil is also added which, due to Washington's tensions with Venezuela and Iran, has taken a generally bullish turn. spot gold he moves forward further and glimpses that share $5.000 the ounce also predicted by the governor of the Bank of Italy Fabio Panetta: today it is worth around 4.960.silver needless to say, he does even better and celebrates yet another record touching 100 dollars an ounce during the session.
Oil rises on US-Iran tensions and Eni and Saipem benefit on the Milan Stock Exchange
What is causing oil to soar this Friday are the new winds of war between the US and TehranPresident Donald Trump has renewed his threats against the regime, which has increased fears about crude oil supplies, which could decline if it comes to an open conflict. The fact is that today Brent crude gains about 2,5%, approaching $66 a barrel Even WTI crude has climbed back above $60 and is approaching $61 a barrel. It's no surprise, then, that despite a grim day for the Milan stock exchange, which fell 0,58% to below 45.000 points, oil stocks are undoubtedly among the stocks that are holding up: Eni is up 2%, Saipem is up 4,4%.
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In Milan, the Defense Department is resurgent, but banks are struggling. Other European stock markets are also in the red.
In Milan Instead, financial markets are sinking, banks and not only: Nexi the worst with losses above 4%, then in no particular order Unipol -3,1%, Mps and Mediobanca which after yesterday's board meeting The Siena-based bank is down 2,8% and 3,2%, respectively. Banco BPM is down 1,4%, Intesa Sanpaolo is down 1%, and Unicredit is down 1% after being the best performing bank yesterday. After the nosedive of recent trading sessions, the major players in this historic era, namely defense stocks, are partially recovering: Leonardo is up 2,1% and Fincantieri is up 1,3%. Staying with domestic business, after a week in which it had at one point dangerously soared, the BTP Bund spread shrinking towards 60 around 61 basis points just before the stock market close, with the yield on our 10-year BTO stable at 3,50%. Across Europe, the stock markets aren't doing much better: Frankfurt below par, Paris and London around -0,2%, Madrid the worst performer at -0,9%.
Wall Street is mixed: the Nasdaq rises, led again by Nvidia.
But returning to the international scene, the session on Wall Street is mixed: the Dow Jones follows the European mood and loses 0,6%, while the Nasdaq travels in positive territory (+0,6%) thanks to the usual tech stocks, in particular Nvidia is currently riding the wave and today it scores a further +1,65%. Macro data also comes from the US: Michigan consumer confidence rises to 56,4 points in January, above the positive threshold and above the expectations of 54 points. The manufacturing PMI index, on the other hand, is substantially in line with expectations at 51,9 points (52 the consensus), while U.S. service sector activity remained stable, in January, against expectations for an increase. The preliminary reading of the services purchasing manager index, compiled by Markit, was 52,5 points, with estimates set at 52,9 points.
Euro-dollar: Here's why the US currency remains weak
Today deserves a separate chapter the euro-dollar exchangeThis week, the single European currency has appreciated significantly against the US currency, reaching 1,175 today from 1,15 at the beginning of the year. This is because the dollar is weakening in the face of President Trump's continuous reversals and therefore, despite the climate of greater relaxation on international markets after the backtracking on Greenland and European countries, the currency US remains weak.
