Le European stock markets begin the week after mid-August with modest gains, supported by the good performance of the Asian markets but with investors still mainly concentrated on the Middle East. Today in fact the 60-day truce between the United States and Iran signed with the Islamabad agreement, while negotiations between Washington and Tehran remain at a standstill and the comparison continues on the Strait of HormuzThe market sentiment therefore remains cautious, even if the reaction to geopolitical news appears less violent than in previous weeks. The confrontation between Donald Trump and the Iranian leadership remains in the background, while over the weekend, commercial traffic through Hormuz slowed again.
Monday's macroeconomic agenda is light, while important events are expected this week. The next ones will be on Wednesday. minutes of the last FOMC meeting, from which investors will look for indications of the degree of division within the Federal Reserve on the next moves on rates. On the same day, the Eurozone inflation data, European and US PMIs will be released between Thursday and Friday. Expectations for the Fed have become less hawkish following the latest US price data: according to the CME's FedWatch, the market's probability of a 25 basis point hike has fallen to around 30%.
On the energy front, however, a moderate correction prevails after the strong rise of the last few weeks. Brent remains below $90, around $88,4 a barrel, while WTI lost about half a percentage point and hovered just below the $82 mark. Natural gas, meanwhile, continued to rise in Amsterdam, exceeding €62 per megawatt-hour.
Asia positive, still buying in tech
A favorable signal is coming from Asia, especially from the technology sector. Seoul's Kospi gains about 2,4%, while Tokyo closes higher by 0,74% to 69.220 points, again supported by stocks linked to artificial intelligence and the semiconductor industry. Chinese markets also performed well, with Shanghai and Shenzhen gaining, while Hong Kong rose by more than 1%.
However, macroeconomic data from Japan were lower than expected. In the second quarter, GDP grew by 0,3% compared to the previous three months and 1,1% year-on-year, less than expected. Private consumption remained stagnant and investment fell by 1,2%.
Europe moves slowly, Milan rises with STM and Prysmian
European stock markets have started positively overall, but without any major movements. Frankfurt is up about 0,2%, London is up 0,3%, while Paris is hovering around parity. Better Piazza Affari, where the Ftse Mib advances by approximately 0,4% and reaches the 53.800 point area.
Technology is once again driving purchases. Stm jumps by more than 3,5% and Prysmian gains approximately 2,7%., benefiting from the new global interest in semiconductors, technology infrastructure, and artificial intelligence-related investments.
Also good Classic Ferrari for sale, also in the spotlight for the record result achieved by the Ferrari LuceA unique “Tailor Made” version of the first electric car from Maranello has been auctioned off at Sotheby's during Monterey Car Week for 40 million dollars, a figure never before reached for a new car.
Positive too Saipem. Among the banks MPS remains just above par after CEO Luigi Lovaglio reiterated the importance of preserving the group's integrity. Unipol It is instead under observation after Barclays raised the target price from 27,5 to 32 euros, confirming its overweight rating. Weak Fincantieri, Campari, Amplifon and Brunello Cucinelli.
Euro nears 1,16, spread stable and US futures mixed
On the currency market the dollar remains slightly weakThe euro is trading around 1,159 against the greenback, while the dollar-yen exchange rate is falling towards 159,1. The euro-yen is holding just above the 184 level.gold rises again and is once again approaching the threshold of $4.400 an ounce, up about half a percentage point. Silver, copper, and platinum also performed well.
On the bond market it The spread between BTPs and Bunds remains between 76 and 78 basis points., with the yield on the Italian 10-year bond around 3,96%-3,97%.
Finally contrasted Wall Street futuresThe Dow Jones Industrial Average contract fell 0,08%, while the S&P 500 contract gained 0,13%. The Nasdaq 100 futures contract was more lively, up 0,46%, still supported by the strength of the technology sector.
