Le European stock markets close deep in red after the escalation of tensions in Middle EastWeighing on the markets are the attacks launched by the United States against Iran, in response to the actions attributed to Tehran against three ships in the Strait of Hormuz, and the reinstatement of sanctions on Iranian oil.
The US President's statements also worsened investor sentiment. Donald Trump, who from the NATO summit in Ankara defined Iran as a “lying and sick” country, effectively decreeing the end of the truce"We're going to hit them hard again this evening. I'm giving them little warning," he added, fueling fears of further military escalation. The markets' reaction was immediate: Petroleum flies by more than 7%, with Brent and WTI rising sharply, while also the gas European returns to the 50 euro per megawatt hour mark.
In Europe all the main markets are in red: Milan He tries to contain his losses, but ultimately gives in to negative sentiment. The losses are even heavier. London, Frankfurt, Paris e Madrid, while weakness had already emerged in Asia with Tokyo e Alone falling. Also holding back the market is the technology sector, where investors remain confident in artificial intelligence, but are starting to question the sustainability of valuations. Emblematic Samsung, penalized despite expectations of strong earnings thanks to demand for AI chips. Also in the red Wall Street, with US futures falling ahead of the start of trading. Also Wall Street remains under pressure, with investors looking both at the evolution of the conflict in the Middle East and at the minutes of the Federal Open Market Committee (FOMC), expected at 20 pm Italian time.
On the corporate front, airlines are suffering, more exposed to the high fuel prices. The semiconductor sector bucks the trend: prices are rising. Western Digital, micron Technology e Broadcom, the latter supported by the extension of the multi-year partnership with Apple , a deal worth over $30 billion that represents the largest manufacturing investment in the United States ever announced by the Cupertino group. It is also under special observation SpaceX by Elon Musk, whose market value remains below its initial listing price of $150.
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A Piazza Affari remains The technology and banking sectors are under special observation. After the previous day's sell-off, the chip sector continues to face doubts about the sustainability of valuations linked to the artificial intelligence boom, while STM is trading above par. The spotlight is also on Unicredit, which closed in decline despite the success of the takeover bid on Commerz. definitive memberships were equal to 17,6%, bringing the overall stake to 47,59%, net of cash derivatives.
Energy stocks are supporting the price list: Eni, Saipem e Tenaris are leading the gains thanks to the recovery in oil prices, with the latter also supported by a $2 billion contract in Indonesia. Also under observation Leonardo, on the last day of the NATO summit in Ankara, after the €200 million contract awarded to Accenture for the Protected Business Network program. Weaker Fincantieri e Avio, which retrace after the strong increases of the day before.
Among the titles under scrutiny are also Poste Italiane, following the board of directors' decision to proceed with a capital increase of approximately 372 million of euros to serve the takeover bid on Tim, while Stellantis falls after the sales launch of the electric Fiat Topolino in the United States. The Pirelli, penalized by Citi's rating cut from "buy" to "neutral," despite the increase in the target price. Down Cucinelli and Amplifon.
International tensions are also weighing on the bond market: the yield on the 10-year BTP rises to 3,83%, the German Bund returns above 3% and the spread BTP-Bund rises to 80 basis points, the highest since the first sessions of May.
