After a poor start, European stock markets are moving cautiously higher While awaiting developments in the Middle East, the United States returned to attack Iran overnight "in honor of fallen soldiers," as President Donald Trump announced. Also overnight, the Iranian Revolutionary Guards declared that two oil tankers were hit while attempting to cross the Strait of Hormuz. But the words of Iranian Foreign Ministry spokesman Esmail Baghaei gave investors some hope. "The diplomatic apparatus is carrying out its duties in parallel with the actions of the armed forces, and the Islamic Republic of Iran will spare no effort to stop the crimes of the United States," the IRNA news agency wrote. And so, after an initial surge, oil prices Petroleum slow down, with the Brent which has returned below $90 a barrel, at $88,29, and the wtf which is trading at 82.2 dollars. The price of the gas, which in Amsterdam is trading up 1,4% above 58 euros per megawatt hour.
Stocks rise cautiously, but London falls ahead of Burnham
In Asia, closed Tokyo for the holidays, the lens is still on the Kospi of Alone which dropped 4,46% on growing concerns about the now-expensive valuations of the artificial intelligence sector. In July, the Korean stock market fell more than 22%. It rose more than 2%. Hong Kong, thanks to the optimism raised by domestic developments in AI. Also on the rise Shanghai.
In Europe, however, Milan marks +0,3% above 52 thousand points. Paris 0,28% salt, Frankfurt of 0,3%. The day after the world victory, Madrid gains 0,28%. Bucking the trend London, with the FTSE 100 dropping 0,3% as Keir Starmer awaits his departure. After giving his final speech at Downing Street, the outgoing prime minister will meet with King Charles III to whom he will officially submit his resignation. At that point, it will be Andy Burnham's turn to replace him and form the new government.
From a macro perspective, the most anticipated event of the week is the ECB meeting The Fed is expected to leave rates unchanged on Thursday. Markets are waiting to hear Christine Lagarde's remarks at the press conference, hoping for some guidance on the future.
Meanwhile the season continues quarterlyIn the US, it will be the turn of big tech: Wednesday Alphabet, IBM, and Tesla will present their accounts, while on Thursday it will be the turn of Intel. In Europe, all eyes will be on the banking giants: Banco Santander in Spain, BNP Paribas in France, Unicredit (Thursday) in Italy.
On the European stock market, the collapse of Ryanair, with the stock dropping 4,4% due to the sharp drop in profits (-34%) in the first quarter, weighed down by reduced airfares and rising fuel costs following the conflict in the Middle East.
In Milan, all eyes will be on TIM and Poste Italiane on the day of the takeover bid.
In Milan the eyes of investors are focused on Tim (-1,59%) on the day the offer starts Poste Italiane (-0,97%). The soundness of the deal was underscored by TIM CEO Pietro Labriola himself: "It's not just a financial transaction but a long-term industrial project," he wrote in a letter to employees on the first day of the takeover bid. "If shareholders accept the offer, the transaction could be completed by the end of the year."
On the sales front the worst title is Avio (-2%), bad too Terna (-1,3%) And Inwit (-0,95%). Purchases, on the other hand, are rewarding. Moncler (+2,69%) pending the accounts of Wednesday 22 July and Prysmian (+2%) which signed a deal with Molex Ten-year deal worth up to $5,5 billion on data center cablesOil companies were positive with Saipem (+1,55%) and Tenaris (+1,13%).
On the banking front Ps rises by 1,25% after the board of directors of the Siena-based institute rejected the offer of Intesa Sanpaolo (+1,23%) and instead opened to that of Bpm bank (+0,84%). Positive also Unicredit (+0,7%) after the first openings of the German government and Fineco (+1,22%) in the wake of rumors about the possible interest of Piazza Gae Aulenti. Good Unipol (+ 1,55%).
Outside the Ftse Mib Mayor advances by 1,8%: the company has won a 1,3 billion contract in Argentina.
The other markets
On the currency the euro is travelling at 1,14 dollars, while on the secondary market it spread rose to 83 points from 82 on Friday. The yield on the benchmark 10-year bond also rose, standing at 3,95%.
