Le European stock markets close lower, with the Davos effect fading and leaving room for possible escalations in the Middle East. Investors prefer to take refuge in precious metals: silver exceeds 100 dollars an ounce and their is approaching $5.000.
In Europe, the session closed in the red almost everywhere: Milan marks a -0,58%, Paris -0,14% London -0,16% and Madrid -0,8%. Frankfurt e Amsterdam they instead hold on to a draw. Wall StreetAfter two positive sessions, the indices are performing mixed: the Dow Jones loses 0,5%, while the S&P 500 and Nasdaq gain 0,2% and 0,6%, respectively. The technology sector is impacted by Intel's collapse after lower-than-expected results and outlook, while Nvidia and AMD are rising.
On the macroeconomic front, US service activity remained stable at 52,5 points in January, below expectations (52,9). The manufacturing index rose to 51,9 points, slightly below the estimate of 52.
A Milan slips: nexi after the rumours about the exit of the financial director, while Unipol and the banking companies, in particular Mediobanca e Monte dei Paschi, are affected by uncertainties about governance. In contrast, the energy sector is benefiting from the rise in oil prices, with Saipem featured and Eni also supported by the sale of a stake in an offshore project in Ivory Coast. The defense sector also performed well, with Fincantieri e Leonardo on the rise.
Lo spread The BTP-Bund spread fell to 60 basis points, from 62 the day before, reaching its lowest level since 2009. The yield on the 10-year BTP stood at 3,50%.
On the currency market, the dollar remains weak. Among raw materials, oil and gas are rising: Brent exceeds $65 a barrel and WTI exceeds $60, while gas it is approaching 39 euros per megawatt hour.
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