European stock markets are uncertain this morning as they weigh the tug-of-war in talks in Middle East and try to predict the next ones moves by central banks on rates. The United States and Iran have agreed to cease mutual attacks ahead of the resumption of peace talks this week in the Strait of Hormuz, seeking to end the ongoing mutual attacks that have strained a fragile truce.
The focus is on the Central Banks Forum in Portugal, which opens this evening with the speech of Christine Lagarde, President of the ECB, at 6.30 pm and will culminate on Wednesday with a round table bringing together Warsh, Bailey and Macklem on the consequences of the oil shock.
Macro data published today. Inflation in Spain in June it remained at high levels with a +3,2% on the year (equal to expectations and the previous month).EurozoneIn May, bank lending to businesses recorded the fastest growth rate in three years (+4% from 3,4% in April), according to data released by the ECB, with lending to households growing by 3,1%, up slightly from 3% the previous month.
Il Brent is up 1,5% at $73. Gold down 1,3% to $4.040 an ounce.
European stock markets are slightly down, except for Piazza Affari, which remains positive. Stm stands out.
Little movement among the main European stock markets Frankfurt, which shows a +0,04%, a modest decrease for London, which gives up a small -0,3%, while Paris shows a fractional decline of 0,4%. The Euro Stoxx 50 and the Stoxx 600 are trading just below par. The selling is concentrated in the sectors of luxury and consumption (Essilor Luxottica -2,5% lvmh -1,8%) and of the automotive industry (BMW and Volkswagen -2%). The latter is suffering from news of a new shock plan with the possibility of selling or listing the jewels Ducati and Lamborghini, cutting 100 employees, closing four factories, and possibly abandoning the autonomous driving alliance with Bosch.
For Business Square The session is marked by small gains. The FTSE MIB is up 0,09% to 51.312 points, while the FTSE Italia All-Share is up 0,11% to 53.900 points. The FTSE Italia Mid-Cap is just above par (+0,34%); the FTSE Italia Star is also up 0,13%, with a similar trend.
Shining at Piazza Affari is STMicroelectronics, with a gain of 3,80%, inspired by the news from South Korea of investments worth over 1.000 billion euros over ten years, for the construction of semiconductor production plants and data centers for artificial intelligence. Good ideas on Saipem, which shows a rise of 2,66%, on Eni (+1,76%) and Prysmian (+1,5%).
The strongest declines, however, occur on Danieli, (-5,16%). It also slips Bank Ifis (-6,6%). Also in red Unicredit, which trades at -1,13% and Ferragamo (-0,93%). Drops also for Inwit (-1,5%), Italgas (-1,4%), Hera (-0,76%).
South Korea is relying on Samsung and SK Hynix to consolidate its global leadership: it is investing $576 billion in the AI chip sector.
South Korea today outlined a broad industrial strategy focused on the “triple axis” of semiconductors, physical artificial intelligence and data centers: its president Lee Jae Myung presented investments in the chip industry for over 576 billion dollars for ensure the country's global dominanceThe plan, entrusted to Samsung Electronics and SK Hynix, aims to reduce regional disparities and boost economies outside the Seoul metropolitan area: Lee said the southwestern city of Gwangju and South Jeolla Province will also invest 5 to 20 trillion won in projects. An additional 81 trillion won is planned for a chip packaging hub in the Chungcheong area, near Seoul.
