European stock exchanges directionless, while investors remain focused on the picture Middle EastOn the one hand, fears of a possible resumption of tensions in Iran are taking centre stage, while on the other, the ceasefire between Israel and Lebanon is fuelling some hope of easing tensions. In this context, energy markets are reacting with a slight decline: Petroleum corrects after the recent increases, with WTI at 95,27 dollars (-0,78%) and Brent at 96,98 dollars (-0,85%), while also gas natural gas in Amsterdam remains close to 50 euros per megawatt hour.
In a session with a conversational tone, the stock markets closed in no particular order: Milan, after a morning of decline, returns above parity,, London e Amsterdam are decreasing, while Frankfurt, Paris e Madrid are traveling on the rise. In the United States, caution returns after the recent record highs Wall StreetThe Dow Jones continues to surge ahead, while the S&P 500 is below par. The Nasdaq is declining, weighed down by the collapse of Broadcom, which after yesterday's -13%, opened sharply lower today, putting the artificial intelligence theme back under pressure. The effect spread across the entire market and spread to Asia and Europe during the day. The Stock Exchange Tokyo lost 1,36% to 67.470,69 points, interrupting the rally of the last few sessions, while the Topix lost 1,11% to 3.951,85 points. Among the stocks, a strong correction for Softbank (-11%), after the recent rally linked to the OpenAI IPO and investments in the data center project in France of up to 75 billion euros.
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At the top of Piazza Affari there is Diasorin, followed by BRUNELLO CUCINELLI. Stands out Campari, supported by the good performance of the alcohol sector after the results of Rémy Cointreau. Also good nexi, under the spotlight following the Consob updates: CDP holds an aggregate stake of 27,638%, of which 19,638% with voting rights and 8% through derivatives, and has confirmed its intention to increase its stake to 29,9% without launching a takeover bid. Featured Unicredit, at the centre of attention for the Commerzbank dossier, with the German supervisory body Bafin in contact with the German bank on the recent communications relating to the adhesions to the takeover bid: the group led by Andrea Orcel responded by reiterating that it does not wish to comment on "unfounded insinuations" and confirming the consistency of the data already communicated on 3 June. Good also B for Bank, supported by the improvement in the rating trend by Morningstar DBRS, and more cautious MPS, which benefits from the placement of a €500 million senior bond with a three-year maturity and an early repayment option after two years. The oil sector, however, remains under pressure, in line with the decline in crude oil, and Avio, which continues its correction after the strong rally of the previous weeks. At the bottom of the list stm, penalized by the global sell-off in semiconductors linked to the prospects of artificial intelligence and the fallout from the Broadcom case.
On the bond front, Eurozone yields are moving slightly upwards: the ten-year BTP stands at 3,75%, while the spread with the Bund remaining stable at 73 basis points. In the currency market, limited movement with euro/dollar at 1,1611. The Bitcoin hits four-month lows, while the strengthens (near $4.500 an ounce).
