Le European stock exchanges reduce the declines during the session, supported by the improvement of Wall Street. Markets remain cautious after the failure of talks between the United States and Iran, with its eyes on the US military blockade of all maritime traffic entering and leaving Iranian ports. A prospect that reignites the price tensions and fuels fears of a new inflationary surge.
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The immediate impact is on the energy sector and so the Oil returns above $100 a barrel: WTI at 104,4 dollars a barrel (+8,11%) and Brent at 101,83 dollars (+6,96%). Strong rise also for natural gas on the Amsterdam TTF, with May futures at 47,6 euros per megawatt-hour (+9%). Precious metals are declining: at 4.726 dollars per ounce (-0,43%) and silver at 74,66 dollars (-1,56%).
In this scenario, the stock markets are weak: Frankfurt loses 0,35%, Paris 0,33%, London 0,17%, while Madrid marks the sharpest decline with -1,02%. Business Square The Ftse Mib closed at 47.527,16 points (-0,17%). Budapest bucks the trend, where the stock market ran up to +2,8% after the outcome of the elections which Peter Magyar's victory and the end of the Orbán era have been confirmed, with the forint also significantly strengthening.
Energy and defense stocks hold up at Piazza Affari, supported by the rally in crude oil, while bank sell-offs prevail. In the spotlight Ps in view of the assembly of April 15th and the dossier Pirelli after government intervention with the Golden PowerAmong the Milanese blue chips, there is in light Leonardo, Followed by Post e TimOn the other side, the you make Amplifon, Stellantis, Moncler and Buzzi.
It was more complex the painting in Asia, where the stock markets reacted unevenly to the geopolitical escalation. Tokyo Stock Exchange closed down by 0,74%, weighed down above all by technology and cyclical stocks: strong sales in semiconductors and the auto sector, particularly exposed to the slowdown in global trade. A minus sign for Seoul too, while among the markets still open, sales in Hong Kong and Mumbai prevail, with more limited declines in Singapore.
The bond markets are recording theincrease in the spread between BTPs and Bunds rises to the 80 basis point area, with the yield on the Italian 10-year bond approaching 3,87%. On the currency market, the dollar Strengthens as investors seek safe haven assets: the euro slips to 1,1688 from 1,1731.
