Le European stock exchanges they travel cautiously rise driven by the quarterly results, with theexception of Frankfurt. Investors' attention is being drawn by geopolitical tensions: the US president has the meeting was cancelled planned with Vladimir Putin e sanctioned the two major Russian oil companies, Rosneft and Lukoil, while the European Union has launched a new package of restrictions, also banning the import of Russian liquefied gas. The combination of sanctions and production cuts of OPEC+, which have reduced the expected supply by almost 50%, has made crude oil jumps 5%In the background, the administration Trump is considering a global crackdown on exports to the China of products containing with United States, following the latest restrictions introduced by Beijing on rare earths.
Meanwhile the season continues quarterly: Nokia flies thanks to the demand for AI and cloud services, while Volvo Cars records strong purchases in Stockholm. Kering runs in Paris after a smaller-than-expected drop in sales, while Roche retreats, penalized by the dollar despite an improved outlook. Overseas, Wall Street starts without shocks but it shifts into gear, despite the weights of IBM e Tesla, while attention remains high on US inflation, whose tomorrow's data will be crucial ahead of the Federal Reserve meeting on October 29. According to Fed Watch, the market has a 96,7% probability of a 25 basis point rate cut.
READ MORE US-China tensions: markets nervous but remain near highs di G. Bruschi
In Milan the eyes are on St Microelectronics e Saipem, both put to the test. STM – in deep red – closed the third quarter with revenues of $3,19 billion and net profit of $237 million (-29,7%), while Saipem recorded revenues of $11 billion (+8,4%) and a net profit of $221 million (+7,3%). Leonardo, reduces earnings despite the official announcementsatellite alliance with Thales and Airbus. Reflections on the automotive sector, where Stellantis loses ground after disappointing results Tesla, and on luxury (Cucinelli and Moncler), supported by the positive accounts of Kering. Eni is running thanks to the rise in crude oil prices. A shower of purchases also on Unipol.
On the banking front, B for Bank sees JP Morgan's stake reduced to 3%, while Unicredit receives upgrades from brokers, with a target price of up to 71,6 euros.
Lo spread remains stable at 79 basis points while the fourth day of offering of BTP Valore with orders for over 1,5 billion euros and more than 46 thousand contracts signed.
The spot gold shows a slight recovery to 4.116 dollars per ounce (+0,49%), while thesilver runs more (+1,49%). The Platinum (+1,21%), the palladium (-0,15%). On the currency front, theeuro trading slightly below $1,16.
