Le European stock markets continue to be mixed after the publication of the US inflation data, which showed a sharper-than-expected slowdown but failed to support sentiment. In January, US consumer prices rose 0,2% month-on-month, less than the 0,3% forecast, while annual inflation stood at 2,4%, down from 2,7% in December and below the market's 2,5% estimate. Core inflation rose 0,3% month-on-month and 2,5% year-on-year, in line with expectations. These figures strengthen the hypothesis of a more prudent Federal Reserve on rates, but which are not enough to give new impetus to the price lists.
Piazza Affari confirms itself as the worst among the main squares of the continent together with Madrid, while the European picture remains fragmented: London drops 0,10%, Paris retreats by 0,59%, Frankfurt fluctuates just below parity (-0,04%), Amsterdam is the only one bucking the trend. Wall Street also weak at the start, despite the cooling of inflation, with investors remaining cautious awaiting further signals on the path of interest rates and the resilience of the American economy.
On the macro front, news is also coming from Europe with the numbers on GDP e occupation of the Eurozone. Eyes on the technological, with investors' doubts about the returns on large investments with Big Tech for artificial intelligence, and on the sector's stocks steel, with the rumors about the will of the US president Donald Trump to reduce some duties applied to steel and aluminum products (last summer it had imposed tariffs on steel and aluminum imports of up to 50% and extended the taxes to a series of goods made from these metals, including washing machines and ovens).
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At Piazza Affari the Ftse Mib remains under pressure, burdened above all by the collapse of the banking sector and Prysmian suffers heavy decline, which leaves the stock market down more than 5%. All banks suffered, with heavy losses in Bper Banca (-5,39%), Banca Popolare di Sondrio (-5,26%), Unicredit (-4,87%), and Banco Bpm (-4,60%). Intesa Sanpaolo, Unipol, and Finecobank also fell. Campari also fell.
On the opposite front they place themselves utilities and some industrialists in the spotlightLeading the increases is Inwit, which jumped 5,10%. Leonardo and Tenaris also performed well, along with Telecom Italia and Lottomatica. Buzzi and Stmicroelectronics also performed well.
Raw materials front: after the declines of the previous day, triggered by the fact that according to the IEA in 2026 the global demand for Petroleum will grow more slowly than expected, causing a significant surplus. Crude oil is still weak. Natural gas traded in Amsterdam is reducing its losses.oro.
As for the currency, the yen The best week in almost 15 months is on the way: the Japanese Prime Minister's election victory Sanae Takaichi has eased some market fears about the stability of public finances. In Forex, attention has focused on the currency's recovery, which has disproved the initial hypothesis of accelerated selling in the event of a strong mandate for Takaichi. bond market, finally, the spread The exchange rate between 10-year BTPs and their German counterparts is stable compared to Thursday's close.
