I European lists they close today on a low note drop, with some investors choosing to cash in on the eve of the chip giant's quarterly report, Nvidia (+0,19% in New York), a symbol of artificial intelligence euphoria. The event is considered by many analysts to be a turning point for the markets. They will also be released tomorrow minutes of the last meeting of Fed, which may provide new insights into monetary policy in the coming months, while several US bankers have tried to cool down expectations on a first rate cut due to inflation still too high; even today some members of the Fed should intervene on the point. On the European front, ECB President Christine Lagarde will speak at a public event tomorrow.
Europe in slight decline, little movement on Wall Street, expectations for Nvidia
Square Business it lost 0,64% and fell to 34.603 basis points, after yesterday's retreat mainly due to the detachment of coupons by 21 blue chips. They also go into the red today Paris -0,67% Frankfurt -0,26% Amsterdam -0,38% London -0,1%.
Wall Street there is little movement at the end of the morning, after the Nasdaq updated its highs in the previous session supported, among other things, by the rally of Nvidia. According to data from analytics firm Trade Alert, Nvidia shares are poised for a swing of 8,7% in either direction by Friday. This would translate into a market capitalization swing of $200 billion, larger than the market capitalization of around 90% of S&P 500 companies. Today the FT writes that Amazon has suspended orders of the Nvidia “superchip” pending the updated model, a novelty that contributes to making the stock slightly nervous, which had started in decline.
Geopolitical tensions remain in the background
Also remaining in the background of the markets are the geopolitical tensions, Mostly in Medium Nibujon, which also influence raw material prices. Meanwhile, news is coming for theUkraine, given that EU countries would have formally adopted a plan to use the extra profits deriving from the Russian central bank's assets frozen in the Union, around 15-20 billion euros by 2027, with a first tranche that could arrive in July . The G7 meeting also begins in Stresa this week, where Treasury Secretary Janet Yellen will insist on agreeing among the participating countries on a plan to use the profits as collateral to support a larger loan to help Kiev. Speaking in Frankfurt today, Yellen then said the US and Europe must respond to China's industrial policies in a "strategic and united way" to keep manufacturers viable on both sides of the Atlantic.
Dollar flat, crypto in orbit
On the currency market the dollar is on standby trying to figure out what direction US monetary policy will take. L'euro it always changes around 1,086.
Rather, it is digital currencies that are showing off today. Ether is on track to post its best two-day gain in nearly two years, and the bitcoin approaches a level record on speculation regarding the outcome of spot ETF (Exchange Traded Funds) applications in the United States that would track the second largest cryptocurrency in the world.
Among the raw materials, the Petroleum, with July Brent and WTI futures falling by around half a percentage point, to $78,97 a barrel and $83,30 a barrel respectively.
Metal fever rises and falls. L' spot is rising modestly, but below the recent highs. Copper futures currently mark a new gain of around 1%.
Saipem flies to Piazza Affari
In Milan, in a weak context, today it moved against the trend Saipem, which closes with a gain of 3,99% after being awarded three new contracts for 3,7 billion of approximately dollars from TotalEnergies Ep Angola Block 20, a company controlled by TotalEnergies, for the Kaminho project relating to the development of the Cameia and Golfinho oil fields, located approximately 100 kilometers off the coast of Angola.
In the wake Tenaris marks an increase of 1,08%.
Stay in cash Unipol +1,55%, with positive opinions from some brokers.
Banks are mixed: Unicredit it appreciated by 0,5%, after the seizure of assets in Russia as part of a judicial dispute which also involves other foreign institutions, and following the sanctions adopted by the EU against Moscow. It is likely a appeal by the bank.
Popular of Sondrio recovers 0,9% after the losses of the day before.
Today's declines are heavy for Amplifon -3,97% Moncler -3,62% Recordati -3,04%.
Generali Insurance gives up 1,55% after one quarterly which did not surprise the market and which caused some profit taking, after the stock gained around 20% since the beginning of the year.
Stellantis falls by 1,16%. The company has decided to remove the Italian flag from the rear bumper of the Fiat 600, a model produced in Poland, following accusations, made several times by the government, of offering misleading information on the origin of its vehicles.
Stable spreads
The movements for it spread are confirmed as contained. The yield differential between 129-year BTPs and Bunds closes today at 3,76 basis points, with rates at 2,48% and XNUMX% respectively.
