Le European stock exchanges they open the August 15th week in positive territory, supported by hopes of commercial and geopolitical détente in view of the top between the American president Donald Trump and the Russian president Vladimir Putin (maybe with Zelensky?), scheduled for Friday, August 15th in Alaska.
Milan leads the increases after touching Friday the highest since July 2007, followed by Frankfurt, Paris, Madrid, Amsterdam and London. In Asia, Hong Kong and Chinese markets performed well, while Tokyo remained closed for holidays. Overseas, the Wall Street futures point to a start in positive.
The US-China trade truce expires.
Tomorrow is instead scheduled for expiration of the trade agreement between the United States and ChinaOperators are predicting a 90-day extension, but there has been no official confirmation from Washington or Beijing.
Meanwhile, the White House is evaluating thenew sanctions against Beijing for the purchase of Russian oil, while in the technology sector the spotlight remains on the threat of tariffs of up to 100% on semiconductors. Meanwhile, Nvidia e Amd they would have agreed to pay 15% of revenues generated in China to the U.S. Treasury from the sale of artificial intelligence chips.
Today's agenda is light, but key data will arrive in the coming days: On Tuesday, attention will shift to the July U.S. consumer price index, the Reserve Bank of Australia's interest rate decision, and the August German ZEW index. The Norges Bank meeting will take place on Thursday, while Friday will conclude the week with retail sales data for the United States and China. On the monetary front, Michelle Bowman The Fed reiterated its support for three rate cuts in 2025, citing the worsening labor market and declining inflationary pressures. Meanwhile, U.S. jobless claims hit a new annual record of 1,974 million.
Euro strengthens, gold falls
Sul currency, the euro strengthens to 1,1667 dollars (+0,25%) and to 172,13 yen (+0,1%). The BTP-Bund spread is stable at 86 points, with the Italian ten-year bond at 3,45%.
Sul energy frontBrent crude fell 0,5% to $66,2 a barrel in October, while WTI crude dropped 0,5% to $63,4. TTF natural gas in Amsterdam fell 0,45% to €32,3/MWh, while the GME IGI index for August 11 stood at €35,31/MWh, up from €33,93 on Saturday.
The gold retreats after Friday's rally, with futures down 1,8% to $3.427,7 an ounce and the spot price at $3.367,4 (-0,95%).
Piazza Affari: Focus on Mediobanca's Takeover Bid, Leonardo Slips
In Milan, attention remains focused on theMediobanca's takeover bid for Banca GeneraliProxy advisors ISS and Pirc recommended voting in favor at the August 21st meeting. According to press leaks, four Generali directors—elected on the Mediobanca slate—were informed of the transaction before their appointments. Today is the record date for voter turnout.
The main index moves in positive territory thanks to the increases of Recordati, supported by Jefferies' “Buy” rating, BRUNELLO CUCINELLI, Tim e Amplifon. Bucking Leonardo, Prysmian e Buzzi (-1%), together with Tenaris e StellantisThe latter is under pressure following Standard & Poor's downgrade. The agency revised the outlook for the automotive group led by Antonio Filosa from "stable" to "negative," while confirming its BBB long-term rating and A-2 short-term rating. The decision reflects the company's first-half results, with an adjusted EBITDA margin reduced to 2% and a negative operating free cash flow of €3,3 billion. According to S&P, Stellantis' ability to restore margins above 8% and free cash flow equal to 3% of sales by 2027 now appears seriously in doubt.
Asia: Confidence in a trade agreement
In absence of Tokyo, Closed for Mountain Day, Asian markets closed a positive session. Hong Kong is stable (+ 0,1%), Shanghai gains 0,34% and Shenzhen 1,5%. Mumbai (+0,29%) and Sydney (+0,33%) also performed well.
Traders are looking ahead to tomorrow's meeting of the Australian central bank, which is expected to cut rates by 25 basis points to 3,60%.
