Anticipation for US tech earnings is boosting European stock markets today., while the Nasdaq itself remains more cautious, trading in slightly negative territory at closing time for European markets, both for the composite index and the Nasdaq-100 superbasket. The most traded stocks are the usual ones: Micron and Sandisk just above par, Nvidia +2%, AMD +2,4%. Alphabet's earnings are expected tonight, currently up 0,2%, and Tesla's -0,5%.. IBM is flat, and will also publish its results on the Italian evening.
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Palantir Sinks on the Nasdaq: Here's Why
The worst performing stock on the Nasdaq-100 today is Palantir -4,4%.: on Monday 3 August the company will reveal its accounts and analysts are cautious, attributing the decline to macroeconomic factors such as the rise in bond yields and profit taking on some Artificial Intelligence stocks, a market also shaken by the OpenAI caseAmong the best stocks, Marvell +3%, while Meta and Microsoft lose more than 2%SpaceX is up 0,8% at 17:30 PM Italian time. Bitcoin continues to decline and falls back below $66.000, while the euro-dollar exchange rate appears essentially stable at $1,140.
Oil hits its highest price since June 8, while silver returns to $60.
The other driver of the day is the rise of the oil, which reaches its highest level since June 8 Due to the return of heightened tensions around the Strait of Hormuz and beyond, as the Houthis are threatening to block maritime traffic in the Red Sea, and the attacks on the Caspian Pipeline Consortium terminal in the Black Sea have added to the pressure on global energy markets. The result is that Brent crude is now worth $94 a barrel, and WTI crude oil is nearly $87. Gold and silver are also recovering: the first is aiming for a distant $4.200 an ounce, the second is back at the $60 threshold.
How are other European stock markets and Piazza Affari doing?
Very good session for Milan +1%, which is approaching 53.000 points again thanks to the oil boom, driven by the oil price rally, but not only: Eni +2%, Tenaris +3%, Inwit +4% are among the best performing stocks. Then there are the banks, also quite strong in the midst of earnings season: MPS +2,4%, Mediolanum +2,3%, Finecobank +1,75%. The worst performing stock of the day is Prysmian -1,65%. Worth noting today Giunti Psychometrics debuts at Piazza Affari, a leading international operator in the psychological assessment and mental health sector, on the Euronext Growth Milan market of the Italian Stock Exchange.
The company is listed with a post-money market capitalization of €53,3 million, based on the number of ordinary shares admitted to trading (€60 million, including the 1.500.000 multiple-voting shares not admitted to trading). The BTP-Bund spread remains stable at 82 basis points., with the yield on the benchmark 10-year BTP falling slightly but still very close to 4%, at around 3,93%. Other European stock markets: Paris +0,9% supported by the exploit of Airbus +7% and despite the luxury flop, London +1,2% also driven by the +3,55% of Fresnillo Mining, which today revealed a convincing quarterly report, and Frankfurt +0,6%.
