Positive start to the week for Western financial markets, even for the Dax in Frankfurt which is not affected by the CDU consensus collapses, the party of Chancellor Friedrich Merz, and of a possible government crisis which was however immediately averted by Merz himself, who Despite the electoral debacle, it guaranteed political continuityStability is appreciated by finance and therefore Frankfurt recorded a +1%, thanks to Commerzbank +3% and above all to technology stocks: Siemens +3,6%, Infineon +4,3%. Volkswagen, on the other hand, lost after the new profit warning-2%. Other European markets also performed very well: Milan is the best with +1,6%, Paris +0,92%, London +0,75%.
The Nasdaq is in a strong performance, with tech stocks rallying. Bitcoin is at $85.000.
Wall Street goes full throttle: The Nasdaq Composite Index is up 1,6%, the Nasdaq-100 is up even more than 2%., thanks to the newfound momentum of tech stocks: AMD (up 9%) surpasses the $1 trillion market cap, Meta (up 7%), Intel (up 13%), Micron (up 2,5%), Qualcomm (up 6,5%), and Lumentum (up 4%). Traditional big names are a little less buoyant, with Tesla (up 3%) being the best performer, followed by Google (up 2%). Within the Musk galaxy, SpaceX (up 2%) is also strong. Few stocks are in negative territory, including Starbucks (down 1,5%) and, almost alone in the artificial intelligence sector, Sandisk (down 1%). Bitcoin makes a significant leap, appreciating more than 5% to $85.000, its highest since January. The US dollar strengthens against the euro, bringing the exchange rate to 1,147.
Traffic resumes in Hormuz, driving down oil and gas prices
There are several factors that are giving relief to the stock markets, starting with the fall in oil prices, following the words of Admiral Brad Cooper, commander of the US Central Command, who reported that the flows of crude oil and LNG through Hormuz have reached its highest level in the last six months in recent days, with key transit routes clear of mines: Oil flows from the Middle East have averaged 17,1 million barrels per day over the past ten days, despite Saudi Arabia's East-West pipeline remaining out of service following recent attacks. Brent crude fell 3,5% today but appears to be holding the $100 mark. per barrel, while WTI Crude Oil ended up significantly below the threshold, devaluing by 4,6%.
Gold and silver remain little changed, with the 10-year T-Bond yield below 5%.
European natural gas depreciates by 8%., falling to 73 euros per megawatt-hour: a good sign ahead of winter, the season of highest demand. Gold and silver remained little changed: the former remained stable at $4.350 an ounce, the latter stuck at $66. The decline in oil prices temporarily eased fears of further inflationary pressures, pushing bond yields lower. The yield on the 10-year US Treasury remains very high but it falls below the 5% threshold, and the BTP-Bund spread also deflates a little, returning below 90 basis points, with the yield on our benchmark 10-year BTP slightly decreasing to 4,3%.
Piazza Affari returns to 52.000 points. Technoprobe makes a stellar debut.
Another encouraging driver today, especially for American tech stocks and beyond, are the signs of understanding between the US and China: Trade and AI talks have been described as positive, ahead of the Trump-Xi meeting. Among the best stocks at Piazza Affari is STM +3%, but the newcomer is doing even better Techno probe, that debuts on the Ftse Mib records +5,3%. The company is active in the AI market and is specialized in production probe card, essential for testing semiconductorsBanca Akros highlighted that the €350 million investment plan is proceeding according to schedule, with the new plant expected to bring production capacity to approximately €1,6 billion.
In Milan, which has regained 52.000 points, banking stocks are also in the spotlight today, in full risk mode: Banco Bpm +4,3%, Unicredit +3,2%, Finecobank +2,3%, Intesa Sanpaolo +1,7%, Mps +1,8%. In negative territory, on the Ftse Mib, only four stocks: Eni (which has gained almost 60% since the beginning of the year) -0,9%, Poste Italiane -0,8%, Tenaris -0,37%, Nexi -0,24%.
