European stock exchanges American AI stocks are rising, following purchases. European markets are awaiting the U.S. president's speech. Donald Trump before UN delegates in New York, but especially the bilateral meeting between the tycoon and his Chinese counterpart Xi Jinping, scheduled for Thursday. Eyes are also on potential talks between the US president and Iranian President Massoud Pezeshkian, expected today at the UN General Assembly along with other Gulf leaders. Trump has indeed expressed his willingness to meet with Iranian officials.
In this context Paris advances by 0,58% and Frankfurt 0,43%. Madrid rises by 0,74%, while Amsterdam is travelling in a confident upward trend (+0,69%) driven by tech stocks. London is more backward (+0,19%).
Milan brings up the rear
Milan Instead, it takes off the pink jersey worn yesterday and puts on the black one, with the Ftse Mib which, although far from the lows of the day, loses 0,14% to 52.298 euros. From a macro perspective, this morning Istat confirmed that in 2025 the deficit stood at 3,1% of GDP, an improvement compared to the 3,4% of 2024, but not enough: we are still above the European threshold of 3%. For Italy, this is how things fade away early exit from the EU excessive deficit procedure, while the government will have to deal with narrower margins in drafting the next Budget Law, the last of the legislature.
On the stock market, it drops 2,3% Post on the second day of reopening of the offer on Tim (-2%). Profit taking on Techno probe (-1,68%) after the run recorded on Monday, the day it debuted on the Ftse Mib. Losses between 1 and 2% for Eni, Saipem and Tenaris, in the wake of falling oil prices. Defense is weak with Avio and Leonardo which lose 1,7% and 1% respectively. A minus sign also for the Generali (-1,5%). Ps it's just below parity: second Milano Finanza Consob has reportedly received further requests for clarification regarding communications between some directors and the bank. The confidentiality agreement with Generali is also under scrutiny.
On the purchasing front, at the top of the Ftse Mib there is nexi (+ 1,77%), followed by stm (+1,44%) which, together with Prysmian (+0,67%), benefiting from the good momentum of the tech sector. Positive Lottomatica (+1,4%). Well managed savings with Azimut, Mediolanum and FinecoBank all in green.
Outside the Ftse Mib, it is worth noting the collapse of De Nora Industries (-14%) after the placement of 5% of Snam at 6,69 euros.
Oil on a roller coaster
Ups and downs of oil. The Brent, which this morning had returned above the psychological threshold of 100 dollars a barrel, at 102,04 dollars, began to fall again during the morning and around 13:00 it marked -2% at 89,96 dollars a barrel. Also down (-1,4%) was the Texas WTI, which is moving in the 91 dollar area. After an initial rise, the gas, which in Amsterdam is above 71 euros per mWh (-2,5%). On the currency exchange, theeuro/dollar is stable at 1,145.
Yields, eyes on the French 10-year
After a few days of respite, European government bond yields are rising again. The yield on btp at 10 is at 4,34% from 4,33 of the previous closing, while that of Waist is slightly down to 3,44%. Reverse movements that determine the slight increase of the spreads, rose from 88 to 89 basis points. Eyes especially on Oat 10, whose rates today marked a sharp rise to 4,49%, while concerns about the sustainability of French debt return.
