Le European stock markets open cautiously the session today, August 12th, while all attention of investors is focused on the data onUS inflation in July, expected in the afternoon and destined to weigh on expectations for the Federal Reserve's next moves. The picture remains weighed down by geopolitical tensions in the Middle East and by the new oil price rise, But the return of semiconductor purchases offers important support to the stock markets, especially after the brilliant Asian session.
Wall Street closed the day before with a decline, but in the after-market there were encouraging signs from the technology sector. Super Micro Computers gained 8,5%, while CoreWeave It jumped about 15% after results, guidance, and outlook reinforced the belief that demand for artificial intelligence remains robust. CoreWeave closed the second quarter with revenue more than doubling to $2,58 billion and an order backlog that rose to $104 billion, also raising its revenue guidance for the full year 2026.
The real market mover of the day, however, remains US inflation. The market presents itself divided on Fed decisions in September, while a higher-than-expected price data could strengthen the hypothesis of a new monetary tightening. In Europe, meanwhile, theGerman inflation in July confirmed to be accelerating At 2,8% annually, up from 2,3% in June, a 0,8% increase on a monthly basis. Energy and fuel prices were the main drivers.
The energy front remains closely linked to the uncertainties over the Strait of HormuzTehran continues to maintain that a full reopening of the waterway requires compliance with Iran's conditions, while Donald Trump claims the United States has "full control" of the Strait. Brent crude thus remains close to $90 a barrel, while WTI is above $83. Natural gas prices in Amsterdam are also rising.
Asia Positive, Kospi Flying with Samsung and SK Hynix
The technology sector is once again taking center stage in Asia. Seoul's Kospi is the brightest performer, gaining 3,77%., after having pushed itself above 4% during the session. The Korean market is mainly driven by Samsung Electronics e SK Hynix, both of which have seen strong gains thanks to renewed optimism about the chip sector and the prospects for artificial intelligence. Tokyo also positive, where the Nikkei closed up 0,85%, marking its third consecutive session in positive territory. The Japanese market also benefited from the renewed weakness of the yen, although expectations of a possible early rate hike by the Bank of Japan remain strong. In ChinaShenzhen rose by 0,87% and Shanghai by 0,26%. Hong Kong, on the other hand, was weaker, with the Hang Seng losing more than 1%. In decline also Sydney and Mumbai.
Europe cautiously, Piazza Affari starts with Prysmian and STM in the spotlight
The European start remains moderateFrankfurt is gaining about 0,2%, London is hovering around parity, and Paris is moving cautiously. Piazza Affari opens slightly positive, with the Ftse Mib gaining around 0,3% and in the 53.860 point area.
In Milan, purchases are concentrated mainly in technology stocks. Prysmian earns about 2% and stm rose 0,8%, benefiting from renewed interest in semiconductors and companies exposed to investments in data centers and artificial intelligence. Also performing well Hera, up more than 1%, and AzimuthAt the bottom of the list DiaSorin slips, down by more than 2,5%, while Amplifon, Moncler and Brunello Cucinelli also remain weak.
Euro stable, yen nearing 160 and spread little change
On the currency market the euro remains substantially stable against the dollar around 1,1535. The movement of the yen is more significant, as it continues to weaken and brings the dollar-yen exchange rate towards 159,4, ever closer to the psychological threshold of 160. The weakness of the Japanese currency keeps attention high on possible new interventions by the Japanese authorities, especially after the coordinated operations of recent weeks and in light of expectations for a more restrictive Bank of Japan.
The gold is meanwhile gaining strength again and is moving above $4.400 an ounce, supported by hedging demand ahead of US data and persistent geopolitical tensions.
On the bond market it spread The spread between BTPs and Bunds remains unchanged at 78 to 79 basis points. The yield on the Italian 10-year bond stands at around 3,94%-3,95%.
