Le European stock markets open higher, driven by the renewal of the trade truce between United States e China, extended for another three months until November 10. The suspension of duties – at 30% for US goods and 10% for Chinese ones – has restored investor confidence and helped push the Tokyo Stock Exchange a new all-time highs: I'Nikkei 225 index reached 42.983,34 points during the session, marking an increase of over 1.100 points (+2,8%) and exceeding the previous all-time high recorded in July last year. The rally was driven by the weakness of the yen, which depreciated to 148,30 against the dollar, also favored by political uncertainty linked to the recent loss of the majority in the Senate by the Japanese government coalition.
In Europe, the main indices are moving in positive territory: Paris earn 0,5%, Milan 0,49%, Frankfurt 0,21% and Madrid 0,29%. Positive signals also come from the Chinese markets: the blue-chip index CSI300 advances 0,6% at mid-day, while the composite index Shanghai grows by 0,51%. In Hong Kong, theindex Hang Seng remains stable at 24.929 points.
Trump-Putin meeting in Alaska: Zelensky's participation ruled out
However, the global scenario remains complex. Investors are closely monitoring developments in the conflicts in the Middle East and elsewhere. Ukraine, the latter at the centre of the upcoming summit in Alaska between Donald Trump and Vladimir Putin. Trump has excluding the participation of the Ukrainian president Zelensky, declaring that in Alaska he will be "alone with Putin" and that he will understand within minutes whether an agreement can be reached. He also criticized Zelensky, calling his actions "irritating," but did not rule out the possible future involvement of Ukraine and Europe.
Focus on macroeconomic data: US inflation expected
In Europe, no significant quarterly results are expected, but investors will be closely monitoring the labour market data in the United Kingdom, the ZEW economic confidence index in Germany, but above all the US inflation data Released today and Thursday: the Consumer Price Index (CPI) and the Producer Price Index (PPI). According to a Dow Jones survey, the CPI is expected to increase 0,2% monthly and 2,8% annually, while the core index is expected to rise 0,3% monthly and 3,1% annually.
This data will be essential to address the Federal Reserve decisions in the September meeting, with the probability of a rate cut of 25 basis points rose to 86%, according to CME FedWatch forecasts.
In Australia, instead, the central bank has decided on a rate cuts to 2023 lows to address signs of a slowdown in the labor market, aggravated by U.S. tariffs.
At Piazza Affari, keep an eye on…
Less than ten days before the extraordinary meeting called to vote on the takeover bid for Banca Generali, Mediobanca remains under scrutiny. VM 2006, a group company Caltagirone, continues to contest the convocation of the assembly, denouncing in a press release "serious information gaps", especially on the partnership agreements between Piazzetta Cuccia, Generali e General BankThe company also criticizes the possible "blank" delegation to the board of directors, reserving all rights.
Meanwhile, the family gavio, through the company Aurelia, sold another 25 thousand Mediobanca shares yesterday at a weighted average price of 21 euros per share, collecting a total of 525 thousand euros.
The session was characterized by low volumes and a prevalence of slightly rising stocks. Among the best performers, stm (+1,45%), after Morningstar improved its recommendation from Neutral to Buy, with a target price of 28 euros. The luxury sector follows with Moncler (+ 1,15%) and BRUNELLO CUCINELLI (+1,1%), and Interpump Group (+1,06%). Also progressing Leonardo, Buzzi, Prysmian, Inwit e Banca Popolare di Sondrio, with gains between 0,5% and 0,8%. Unicredit advances by 0,5%, despite the Morningstar rating being lowered from Hold to Sell, with a target of 57 euros. Also slightly up Unipol (+0,17%), with Berenberg raising the target price to 19,60 euros, confirming the Buy rating.
Among the few stocks in decline, nexi loses 0,15%, Campari 0,03% after Morgan Stanley cut its target price, while Ps falls by 0,02% to 8,058 euros.
Also worth mentioning is the Friends debut on the Euronext Growth Milan segment of the Italian Stock Exchange, following the completion of the IPO with a placement at 1,20 euros per share.
Lo spread The spread between 82-year BTPs and Bunds is up to 0,50 points, up 79,6% from yesterday's 10 points. The yield on the 3,52-year BTP rises to 2,70%, while that on the Bund remains at XNUMX%.
The other markets
On the currency front, theeuro si remains stable just above 1,16 dollars, while the Petroleum marks a slight increase: the September WTI futures advance by 0,28% to 64,14 dollars a barrel, while the October Brent price grows by 0,3% to 66,83 dollars. natural gas in Amsterdam rises by 0,5%, to 33,15 euros per megawatt hour. , after Friday's rally, is moving away from its highs after Trump announced the suspension of tariffs on the precious metal.
