The week continues to start with the concerns about global markets, with investors once again having to deal with geopolitical risk. tensions between the United States and Iran rekindle fears of a possible energy shock, while the prolonged blockade of the Strait of Hormuz fuels the oil price rally and brings inflation back to the forefront. In the background, the macroeconomic agenda remains busy: the Fed minutes are expected in the coming days, and above all, Nvidia's accounts, considered a crucial juncture for the technology sector and for the artificial intelligence cycle.
READ MORE: Stock markets are disillusioned with the US and Iran, oil prices rise above $111. di G. Bruschi
Le European stock exchanges, after a troubled morning, accelerate and improve tone, closing in positive territory. On the rise Frankfurt (+ 1,49%), London (+ 1,26%), Paris (+0,44%). At Piazza Affari it weighs the “dividend day” : the coupon detachment of 22 blue chips affects the performance of the price list, with an estimated technical impact of around -1,5% on the main index. Among the names involved are Intesa Sanpaolo, Eni, Generali, Fineco, MPS, Bper, Nexi, Moncler, Saipem, and Tenaris. Energy stocks stand out in this context, buoyed by the rally in crude oil, with Eni and Saipem among the few positive signs. Eni remains in the spotlight also for the launch of new 5- and 9-year bonds intended for institutional investors.
Oil returns to riseBrent crude remains above $110 a barrel, while WTI is trading around $107, up more than 1%. Persistent tensions and energy flow difficulties are fueling fears of a reduction in global inventories, with several analysts beginning to predict further room for price increases. European gas growth is also accelerating, which rises above 51 euros per megawatt hour. Gold is more stable, little moved in the 4.540 dollar per ounce area, while on the foreign exchange the euro/dollar remains stable at odds of 1,16.
On the bond front pressure on yields returnsThe 10-year BTP rose to 3,96%, approaching the 4% threshold, while the spread with the German Bund stood at 78 basis points, up slightly.
