Le European stock markets remain cautious by mid-day, with investors now focus on the US inflation data July's data is the real event capable of shaping expectations about the Federal Reserve's next moves. The outlook remains influenced by tensions in the Middle East and oil volatility, while renewed semiconductor purchases continue to support some equity sectors. The market remains divided on the Fed's decisions in September. A stronger-than-expected price reading could strengthen speculation about a further rate hike, while a more moderate reading would leave room for maintaining the current monetary stance.
Meanwhile, confirmation has arrived from the European front.acceleration of German inflationConsumer prices rose 2,8% year-over-year in July, compared to 2,3% the previous month, while monthly growth was 0,8%. Energy and rising fuel prices were the main drivers.
Resta the situation on the Strait of Hormuz is also uncertainThe positions of the United States and Iran continue to diverge, even though the Turkish media have relaunched the hypothesis of an agreement to extend the ceasefire beyond August 17. The words of Putin, who threatened that Moscow will retaliate if Western countries seize Russian merchant ships. After approaching $90, the Brent pares some of its gains and returns to the $88 per barrel area, while WTI falls below the $83 mark. Natural gas, on the other hand, remains strong and trades around 60 euros per megawatt-hour.
Europe moves slowly, Milan holds steady with Prysmian leading the way
At midday the European picture remains moderately positive, but without a uniform directionFrankfurt is the best performing index, gaining 0,52%, Madrid is up 0,24%, while London and Amsterdam are up just 0,07%. Paris remains just below par, down 0,09%. Business Square maintains a slight lead. Around 13.10 pm the Ftse Mib gains 0,25% to 53.841 points, supported above all by Prysmian, which accelerates beyond 4%.
Inwit also did well, up 1,88%, Avio 1,82%, Unipol of 1,40% e Tim 1,15%. stm remains positive and continues to benefit from the good momentum of the chip sector. Eni announced the purchase of nearly 4,91 million of its own shares between August 3 and 7, for a value of nearly 115 million euros.
At the bottom of the Ftse Mib DiaSorin sinks instead, which lost about 3,8% after UBS downgraded its rating from neutral to sell and cut its target price from 66 to 55 euros. The Swiss bank is more cautious about the prospects for immunodiagnostics and the ability of the LIAISON NES platform to gain sufficient market share in the molecular diagnostics market.
Even luxury is weakBrunello Cucinelli dropped around 1,8% and Moncler just over 1%, while Ferrari fell around 1%.
Asia is positive, Kospi soars with a desire for chips
The Asian session provided initial support to the markets, mainly thanks to the return of purchases in technology stocks. The Kospi Seoul stocks closed up 3,77%, led by the semiconductor sector and strength from Samsung Electronics and SK Hynix. Tokyo's rise was more modest, with the Nikkei up 0,85%, while Shenzhen gained 0,87% and Shanghai 0,26%. Hong Kong bucked the trend, falling by more than 1%.
The tech sector was also supported by indications from Wall Street, where CoreWeave and Super Micro Computer recorded strong gains in the after-hours trading following results that confirmed the solid demand for artificial intelligence and computing infrastructure.
The euro remains stable, the yen weak, and the spread is at 78 points.
On the currency market the euro remains substantially stable against the dollar around 1,1535. The yen, however, continues to show weakness, with the dollar-yen exchange rate close to 159,4 and always close to the 160 threshold, a level that keeps attention high on possible new interventions by the Japanese authorities.gold is getting stronger again and gained more than 1%, pushing into the $4.420 an ounce area and putting the $4.400 level back in its sights after the strong recovery of the last month.
On the bond market, the spread between BTPs and Bunds narrowed slightly to 78 basis points from 79 the day before. The yield on the 10-year Italian bond remains around 3,94%.
On the emissions front, the The Treasury also placed 8 billion euros of 12-month Treasury bills., with an average yield of 2,768%, up 8 basis points from the previous auction.
