Another bad day for the European stock exchanges. Two major unknowns are once again weighing on the markets: tensions geopolitics in Middle East and the future of theartificial intelligence, which after months of strong enthusiasm is beginning to push investors towards greater caution.
On the international front, attention remains high on the confrontation between the United States and Iran. The rumors of Wall Street Journal, according to which Donald Trump is considering a possible expansion of military operations against Tehran, have brought back nervousness to the markets, already grappling with an energy scenario characterised by strong uncertainty.
On the other side of the stage are the giants of intelligence artificial and semiconductors: after the enthusiasm that followed the positive prospects announced by Asml and TSMC's record results, investors are starting to question the sustainability of the technology rally and the valuations the sector has achieved. The Asian stock markets have been hit hardest: the Nikkei Tokyo lost 2,79%, while the Kospi Seoul fell by 6,37%, dragged down by semiconductor stocks. In particular, they suffered Samsung Electronics e Sk Hynix, penalized by fears about the future profitability of the chip sector.
READ MORE Why Chips Are Crashing Despite TSMC's Record Numbers di G. Bruschi
At Piazza Affari, purchases are rewarding above all the banking sector, with Mediobanca, Unicredit e Ps Among the best stocks of the session. Today, the board of directors of Banca Monte dei Paschi di Siena is called to evaluate the offer of Intesa Sanpaolo, bringing investors' attention back to the potential Italian banking risk and the new balance of power in the credit sector.
Also shopping for Fincantieri e Tenaris, while moving against the trend Poste Italiane, following Consob's approval of the public purchase and exchange offer for TIM. Little action has been seen. Recordati, following the fairness judgment on the takeover bid price set at 51,29 euros per share. On the downside, stm affected by the weakness of the technology sector, sales also on Prysmian.
On the bond market it spread The BTP-Bund spread remains stable at 79 basis points, while the yield on the 10-year BTP rises slightly to 3,92%. In foreign exchange, the euro/dollar remains above 1,14.
On the energy front, the Petroleum tries not to be influenced by the climate of geopolitical tension: Brent falls below $85 a barrel and WTI remains close to $80, a sign that operators continue to consider a diplomatic solution to the crisis possible. On the other hand, the gas European, which comes to around 54 euros per megawatt hour.
