Stocks are uncertain as investors grapple with a series of mixed economic data, new Iranian threats in the Persian Gulf that have pushed up oil prices Petroleum and bond yields, while on the horizon there is the prospect of a tightening of monetary policies by central banks around the world. In Asia it is the Kospi the best but it is limited to a +1,2%, while the ride of the yen on the greenback. The Copper marks another all-time high.
Oil remains under pressure. The Strait of Hormuz will not be reopened, as Trump had promised.
The prices of Petroleum rose for the third consecutive day, with Brent crude futures up 0,04% to $97,04 a barrel, after hitting a six-week high yesterday, following Iran's threat to retaliate against any further attacks, targeting energy infrastructure in the Gulf, including U.S. oil and gas interests. Trump had reassured at the beginning of June that the Strait of Hormuz It was supposed to reopen before yesterday's Labor Day holiday, but nothing happened. Meanwhile, Iran threatened the United States with "economic warfare" and claimed to have launched an advanced missile at U.S. warships.
Brent crude oil rose 1,3% this morning to $98,24, marking the third consecutive day it has approached the $100 a barrel threshold, a target the oil benchmark has not reached since May.
In Asia, the Kospi stands out with a +1,2%, but the focus is on the yen at a seven-month high
In Asia The stock markets mostly struggled to find a direction, lacking the beacon of Wall Street which was closed yesterday for Labor Day, while all the attention was on the ride of the yen. The MSCI Asia-Pacific index rose 0,2%, but South Korea stood out. Kospi which rose by 1,2%.
In Japan il Nikkei 225 After fluctuating between gains and losses, it stands at +0,2%, following mixed data regarding the economy. According to the revised data, theJapanese economy grew faster than expected in the April-June quarter compared to the previous three months, thanks to business spending, but the figure still fell short of analysts' forecasts. On the other hand, Japanese real wages rose 2,4% in July compared to the previous year, marking the largest increase since May 2021 and raising expectations that the Bank of Japan will accelerate the pace of its restrictive monetary policy.
Lo yen jumped as much as 1%, after a 1,2% appreciation yesterday, reaching 152,89, its level highest since February 18, against the US dollar, supported by growing expectations of an interest rate hike by the Bank of Japan lsee you next week, while the operations of carry trade are starting to falter. This comes just a few weeks after the Japanese currency had hit its historical minimum of the last forty years which had prompted the US and Japanese authorities to make a rare joint intervention to stabilize the currency. The latest rise in the yen means that this month sThe Japanese yen strengthened more than 4% against the dollar, making it the best-performing currency among the G10. Japan's currency stance has not changed since conducting the joint intervention with its U.S. counterparts, and the authorities will strive to maintain orderly markets, Finance Minister Katayama said this morning at a press conference. She added that she will continue to maintain close contact with her U.S. Treasury counterpart, Scott Bessent.
The U.S. dollar index, which measures the greenback's strength against a basket of six currencies, is hovering near a two-week low of 98,82.
In Australia, shares fell 0,6% after a gauge of local consumer confidence fell sharply in September.
He rperformance of U.S. Treasury securities The 10-year yield rose 0,6 basis points to 4,788%. According to CME Group's FedWatch tool, traders continue to price in a 60% implied probability of a 25 basis point hike at the next two-day meeting on September 16, a probability nearly identical to that of a week ago.
The rose 0,5% to $4.428,23, while in the cryptocurrency sector, bitcoin gained 0,1% to $79.333,01, and ether rose 0,2% to $2.498,94. Copper Gold extended its gains, hitting a record high for the second consecutive session due to short-term supply shortages and expectations that the United States will impose tariffs on refined metal imports. The industrial metal rose for the fourth consecutive day on the London Metal Exchange, hitting a record high of $14.617 a ton.
European stock markets are expected to open around parity. At the Milan Stock Exchange, attention will be on Poste Italiane, Unicredit, and MPS.
European stock markets are expected to be little changed based on Eurostoxx 50 futures which are trading at +0,05%.
Post Poste Italiane increased its tender offer for TIM, offering an additional cash component of €0,30, bringing the cash and share offer to €1,97 plus 0,218 Poste shares for each tendered share of the telecommunications giant. Poste Italiane also waived the threshold condition for the validity of the offer, initially set at 66,67%.
PsThere is anticipation for the board of directors' meeting to decide on the co-optation of Alessandro Caltagirone and Gianluca Brancadoro to the board. The two were the first of the non-elected candidates on the minority list submitted for the board renewal and will replace Carlo Vivaldi and Fabrizio Palermo.
Intesa Sanpaolo It expects to achieve 60% of the €2,9 billion in gross financial benefits expected from the MPS acquisition by 2028.
Unicredit UniCredit S.p.A. announced that it has received authorization from the ECB to apply the Danish Compromise methodology to calculate the group's consolidated capital ratios. Beginning with the third quarter of 2026 reporting period, insurance participations will be eligible for risk-weighting rather than deduction from regulatory capital. This authorization strengthens UniCredit's capital position, generating a 52 basis point improvement in its CET1 ratio, based on the second quarter situation, and further strengthens the bank's rigorous approach to capital allocation.
Bpm bank It placed a 6-year bond, callable after five years, worth 750 million euros through a pool of banks, with demand exceeding 1,7 billion euros.
Buzzi. Berenberg cut its target price from 50 to 44 euros (hold rating).
Acrobatic constructionStarting today, open-ended orders are no longer permitted on Ediliziacrobatica shares (-23,9% yesterday), according to a press release from Borsa Italiana.
