Start of the week on the run for the European stock exchanges Driven by gains in the tech sector (+2,3%) and falling oil prices and government bond yields, with rates moving away from the highs reached last week. Meanwhile, while both governments are showing calm and a cooperative spirit, anticipation is growing for the meeting between the US president and the US president. Donald Trump and its Chinese counterpart Xi Jinping, scheduled for Thursday in Washington. Eyes are also on the UN General Assembly, during which Trump will meet with the leaders of the Gulf countries. The markets are also registering cautious optimism regarding the talks between United States and Iran to end the war, with the reopening of the Strait of Hormuz.
In this context, Milan is the best place, with the Ftse Mib advancing by 1,2% at mid-day to 52.163 points. Increases of around 1% also in Amsterdam, Paris, Madrid and Frankfurt; the latter holds despite German elections in the state of Mecklenburg-Western Pomerania They confirmed the very difficult moment for the CDU, Chancellor Friedrich Merz's party, which was excluded after failing to surpass the 5% threshold, also sealing a new victory for the far-right AfD. In the state of Berlin, the CDU also placed second, this time overtaken by the Left Party.
Government bonds: Bund under special observation
The German election results, which the Chancellor summed up as a "disaster", mean that the spotlight is now on the performance of the 10-year Bund, whose yield – somewhat surprisingly – falls to 3,45%. The rate on the BTP Italian ten-year bond, which stands at 4,32% from 4,44% at the previous closing. And so, the yield differential between German and Italian bonds fell to 87 points from 92 points at Friday's close. The spread also fell to 100 basis points. spread between Bund and Oat, which on Friday had reached 105 basis points, its highest since 2012, while the yield on the French 10-year bond moved downwards from 4,55% to 4,44%. Across the Atlantic, the US Treasury remains around 4,96%.
Piazza Affari shines with tech and banks
In Milan the spotlight is still on the banks, all of which are clearly on the rise following the figures released by the French Société Générale (+2,6% in Paris) on the day of the presentation of the plan for 2029But what is pushing the sector is above all the banking risk in the wake of the rumours published on Saturday by Sun 24 Hours, according to which Unicredit (+ 2%) and Crédit Agricole (+0,6% in Paris) are thinking of putting aside old disagreements to start a dialogue and study a common intervention on Bpm bank (+3,79%), currently subject together with General Bank (+0,92%) du an offer launched by Ps (+1,4%) to resist the onslaught of Intesa Sanpaolo (+1,5%.
At the top of the Ftse mib there is stmicroelectronics, which rose 3,8% in the wake of tech stocks, with the Korean index Kospi which achieved a +1,6%. Eyes on Techno probe that on the day of debut on the main basket in place of Diasorin (+0,7%), runs at 3%. Positive also Prysmian (+ 2,3%).
The oil companies are proceeding slowly, with Eni which yields 0,9% and Tenaris below par in the wake of the decline in oil prices. Weakness also Avio (-0,4%) And Leonardo (-0,3%), while Post marks -0,1% on the day of the reopening of the offer on Tim (+ 0,8%).
Oil prices continue to decline: Brent returns to $100
Crude oil prices also fell sharply, with the Brent loses 3% and it goes back to 100 dollars a barrel and the wtf which falls by 2% in the 98 dollar area. Also down is the gas which marks a 4% drop, reaching 76 euros per megawatt hour.
On the foreign exchange front, the euro It is worth $1,148, in line with Friday's close (at $1,1468). Bitcoin continues its climb, reaching $81.663 (+0,5%).
