Le European stock exchanges they travel in no particular order in a session still conditioned by the new oil price rise, from geopolitical tensions in the Middle East and from a season of quarterly which continues to provide surprises. Investors are still waiting after the Federal Reserve decision, which did not change rates but showed internal divisions, in a context still marked by doubts about inflation and growth. Today it is the turn of the Bank of England, for which the market does not foresee changes.
The declines in the stock market also contribute to dampening sentiment. Wall Street, where the sector of semiconductors has been in trouble for five consecutive sessions due to fears related to the huge investments in artificial intelligence. Meanwhile, the rally continues Big Tech accounts, with mixed results: ecosystem exceeded expectations, while Meta disappointed the market.
READ MORE The earnings and the Fed don't indicate a direction. Expectations remain for Apple and Amazon. di G. Bruschi
In Europe, therefore, caution prevails: Milan e Frankfurt they move weakly, while Madrid, Paris e London show greater endurance. Contrasting session in Asia: Tokyo closed up 0,71% thanks to tech and semiconductor stocks, while Alone falls by 1,23%. Samsung Electronics, after jumping as much as 8,4% on optimism about artificial intelligence-related chips, ended the day down 0,7% despite record numbers.
In Milan, the script of the day is written by the quarterly reports. Stellantis It slips to the bottom of the main index: the group has returned to profit, supported above all by the improvement in North America, but the market does not reward the numbers and is cautiously looking at future prospects.
The day was of a completely different tone Campari, which rose thanks to better-than-expected results and the increase in EBIT margin guidance. Also doing well nexi e Buzzi after the respective quarterly reports. However, it is not enough to support Prysmian A record quarter with upwardly revised targets: according to CEO Massimo Battaini, the stock is suffering from profit-taking after the strong rally of recent months.
Among the stocks under observation also Fineco, which closed the first half of the year with a net profit from continuing operations up 8% to 343,3 million euros and revenues up 10% to 713,8 million. Tim, slightly up, closed the first six months of the year with revenues up 2% to 6,8 billion and EBITDA after lease up 1,2% to 1,8 billion, supported by the acceleration of profitability in the second quarter and the return to profit.
Off the main list, spotlight on Brembo, which raised its forecast for 2026 after better-than-expected quarterly results, while Pirelli confirmed its full-year targets with a half-year profit up 13,3% to 299 million euros. Movement was also seen in the construction sector, with Webuild which launched a takeover bid for Trevi, offering 4,50 euros per share.
Oil remains at the centre of the scene: tensions in the Middle East push the Brent above $92 per barrel, while WTI is trading around 85 dollars. The Strait of Hormuz is under observation, following the threats of Donald Trump to "strike Iran hard." The Houthis, however, reiterated that they do not intend to impose taxes on transit through the Strait of Bab al-Mandeb, limiting their actions to blocking Saudi vessels.
falls the gas in Amsterdam, below 60 euros per megawatt hour, while theeuro remains stable against the dollar at 1,14. On the bond front, the spread BTP-Bund, at 84 basis points, with the yield on the Italian 10-year bond once again above 4% at 4,02%.
