Another day of fire for the European stock exchanges, which however in the end close below par, but far from the lows. Weighing on the markets once again are two great unknowns: the tensions geopolitics in Middle East and the future of theartificial intelligence, which after months of strong enthusiasm is beginning to push investors towards greater caution.
On the international front, attention remains high on the comparison between United States and Iran. The rumors of the Wall Street Journal, according to which Donald Trump is evaluating a possible expansion of military operations against Tehran, have brought nervousness to the markets, already grappling with a situation characterised by strong uncertainty.
On the other side of the stage are the giants of theartificial intelligence and semiconductors: not even TSMC's record figures were able to stop the sell-off in semiconductor stocks. The Asian markets were particularly affected: the Nikkei Tokyo lost 2,79%, while the Kospi Seoul fell by 6,37%, dragged down by semiconductor stocks. In particular, they suffered Samsung Electronics e Sk Hynix, penalized by fears about the future profitability of the chip sector. The uncertainty is also reflected overseas: Wall Street opens in no particular order. The Dow Jones benefits from the jump in United health, which beat earnings expectations, while S & P 500 e Nasdaq are affected by the new wave of semiconductor sales. On the macro front, the sales US retail prices rose 0,2% in June, in line with forecasts, while Required Knowledge of unemployment benefits they fell more than expected, confirming a still solid job market.
READ MORE Why Chips Are Crashing Despite TSMC's Record Numbers di G. Bruschi
At Piazza Affari, Fincantieri and the financial companies stand out: Generali, Unipol and Unicredit. Ps falls on the day Siena's board of directors evaluates the offer Intesa Sanpaolo, bringing investors' attention back to the potential Italian banking risk and the new balance of power in the credit sector.
Also shopping for Fincantieri supported by Deutsche Bank's increase in its target price ahead of its end-July results. On the downside, stm affected by the weakness of the technology sector, sales also on Prysmian. It is also travelling in negative territory Poste Italiane, following Consob's approval of the public purchase and exchange offer for TIM. Little action has been seen. Recordati, following the fairness assessment of the takeover bid price set at 51,29 euros per share.
On the bond market it spread BTP-Bund rises to 80 basis points, while the yield on the Italian 10-year bond rises to 3,94%. On the foreign exchange market,euro/dollar remains above 1,14.
On the energy front, the Petroleum tries not to be influenced by the climate of geopolitical tension: Brent falls below $85 a barrel and WTI remains close to $80, a sign that operators continue to consider a diplomatic solution to the crisis possible. On the other hand, the gas European, which comes to around 54 euros per megawatt hour.
