The European financial week starts again under the banner of caution, after Friday's good results in the wake of Wall Street and the words by Jerome Powell, which strengthened the belief that the Fed would cut rates in September. The worsening of crisis in the Middle East and the Libyan blockade are pushing purchases on today Petroleum, raising some questions about inflation and making European stock markets nervous, closing a sluggish session, thanks to the absence of London for holidays.
Business Square it lost 0,13%, with sales on banks offsetting purchases of energy and other Tim (+2,11%). Supporting the telecommunications stock are the press rumors (Corsera) on a possible consortium being set up to take over the 23,7% share in the hands of Vivendi and for a possible split of the group.
The picture is similar in the rest of the continent, where Frankfurt loses 0,12% as Amsterdam, while Madrid is flat (-0,07%) and Paris, alone, appreciated by 0,18%. While waiting for important macro data this week, investors today took into account the Ifo survey in Germany which revealed how the confidence of German entrepreneurs fell further in August, although less than estimates (86,6 from 87 in July, against expectations of 86). This confirms concerns about the health of the main European economy, which tomorrow will publish data on quarterly growth (-0,1% expected).
Updated data to be monitored on Fridayeuro area inflation.
Wall Street, record-breaking DJ, then retreats. Nvdia in the red waiting for the accounts
It's moving overseas Wall Street uncertain. The DJ he updated his record at the start, and then fell back on parity. The Nasdaq it loses 0,84%. The wait for the accounts is felt on the index Nvidia, -1,62%, which on Wednesday will have to show more than brilliant numbers to convince the market of the validity of the bet on artificial intelligence made so far, given that the stock has gained around 160% since the beginning of the year.
It also ballasts the technological Pdd Holdings, -30%, after Temu's owner missed market expectations for second-quarter revenue.
The Dow retreats Boeing, -1,08%. On Saturday, NASA announced that SpaceX will bring the two astronauts from the International Space Station back to Earth.
Oil leap, gold in record range
The star of the day seems to be the Petroleum, which sees the futures in decisive growth. The October 2024 Texas crude contract rose 3,23% to $77,25 a barrel, while the December 2024 Brent crude appreciated 2,61% to $80,19.
The crisis in the Middle East is pushing the prices, but also the fact that the government in control of eastern Libya has announced a stop to the production and export of crude oil in response to the ongoing clash with the UN-backed government over the leadership of the central bank.
The climate favors purchases on which, after having reached new highs above 2526 dollars, is currently trading slightly higher at 2514,15 dollars per ounce.
On the currency market, a timid recovery is attempted dollar. euro however, it moves above 1,117, while the yen confirms itself in the three-month high area for an exchange rate of 144,16.
Piazza Affari, oil stocks doing well, Recordati and financial stocks down
In Square Business, excluding Telecom, energy stocks such as shine Tenaris + 1,26% Eni + 0,95% Getting very +1,18%. Some financial stocks appear in the top ten of the main basket, such as Azimuth +0,59% and Generali +0,08%, but most of the sector is negative. In fact, Unipol -0,9%, Bper -0,86% fell, Banca Mediolanum -0,74% Pop from Sondrio -0,73% and Bpm bank -0,69%. The black shirt of the day goes to Recordati, -1,07%. Weakness for stm -0,83%.
Stable spreads
The secondary closes a stable session, in which the spread between ten-year BTPs and Bunds of the same duration it is confirmed at 137 basis points.
