Le European stock exchanges they go on up at mid-session, supported by the decline in Petroleum and from the rebound of the technology stocks after the declines of the day before. Brent, which yesterday had touched 107 dollars, falls below 106 dollars a barrel on the hypothesis of a gradual agreement between United States and Iran for the reopening of the Strait of Hormuz, easing pressure on the markets. Business Square The FTSE MIB is gaining 0,88%, nearing the 52.000 point mark, as investors are also watching Moody's rating on Italy, expected this evening after markets close. Positive results also Frankfurt + 0,76% Paris, + 0,19%, Madrid + 1,06% London +0,18%. Overseas, the Wall Street futures are travelling higher, supported by optimism on stocks linked to artificial intelligence, which helps to offset fears for oil still above 100 dollars and for the Treasury yields.
The climate, however, remains influenced by geopolitical developments. Regarding relations between the United States and China, the summit between Donald Trump and Xi Jinping has not produced any significant announcements so far: observers describe it as a meeting In the name of stability rather than a turning point. The extension of the trade truce reduces the risk of an immediate escalation, but leaves businesses uncertain about the rules that will be in effect next year.
Piazza Affari rises with tech and banking, oil stocks down
At Piazza Affari, the rebound is led by technology stocks: Techno probe salt by 4,21%, Prysmian by 2,53% e stmicroelectronics of 1,76%. The European tech sector gained around 1,4%, recovering ground after the declines of the previous day. The sector is also supported by expectations on demand related to artificial intelligence. UBS analysts maintain a constructive view on AI, supported by the growing diffusion and monetization of the technology and increased investment. However, the sector remains exposed to market volatility, including the performance of oil and US Treasury yields, which could weigh on the valuations of high-growth stocks.
Among the Milanese stocks, banks also stand out. Banco Bpm s2,34% ale, Bper by 2,15% e Unicredit 1,96%. Rumors regarding a possible joint Unicredit-Credit Agricole intervention in Banco BPM indicate that the hypothesis is still being defined, with no decisions yet. A sharp decline, however, Bank Ifis, which fell approximately 14% after the Bank of Italy's inspection report, which concluded with a "partially unfavorable" assessment, and the initiation of proceedings for the possible definition of additional capital requirements. The Supervisory Authority identified critical issues in several areas, including anti-money laundering, cyber risk, credit processes, governance, and internal controls.
At the bottom of the list, however, oil companies are suffering, penalized by the drop in crude oil prices: Tenaris loses 2,05%, Eni 1,27% and Saipem 0,87%. Also in red Classic Ferrari for sale, which is giving up 1,16%. It turns Stellantis, up about 0,6%, despite Cox Automotive's forecast for a 1% decline in U.S. sales in the third quarter.
It is also the last day for the'Poste Italiane takeover bid' (+0,86%) up Telecom Italy (+0,19%). Based on the subscriptions communicated as of September 24, Poste has reached 75,6% of TIM's capital, below the 90% threshold required for delisting.
Outside the Ftse Mib, Trevi salt of 0,21% and Webuild 0,78%. The focus remains on Webuild's takeover bid for the Romagna-based company at €4,50 per share, which Trevi's board of directors deemed financially inappropriate. The board also believes the offer does not allow shareholders to participate in the value creation associated with the potential synergies of the transaction. A takeover bid for Trevi promoted by Icop is also underway.
BTP spread slightly decreasing
The bond market remains under observation, with yields still at high levels. spread between BTPs and Bunds falls to around 94 basis points, from 95 the day before, while the yield of the ten-year BTP rises to 4,54%, from the previous 4,56%. In the background there is also the expectation for the Moody's rating on Italy. The agency starts with a Baa2 sovereign rating with a stable outlook, while investors are looking for future indications on the solidity of public finances and the debt trajectory. In September, ISTAT confirmed a deficit of 3,1% of GDP for 2025, with public debt equal to 137,1% of GDP.
The Treasury also placed six-month Treasury bills today at an average yield of 2,873%, the highest level since October 2024. A new bond issue was also announced for October. double issue of BTP Value, from the 19th to the 23rd: For the first time, two five-year bonds will be offered simultaneously, which can also be purchased together. One offers increasing quarterly coupons, while the other, the BTP Valore Insieme, pays a single coupon at maturity. The minimum guaranteed rates will be announced on October 16th.
The other markets
Il Brent, after touching 107 dollars the day before, loses about 1% and falls to 105,48 dollars a barrel. wtf falls by 1,71% to 92,99 dollars. Also falling is the gas natural gas in Amsterdam, which lost 3,97% and fell below 73 euros per megawatt hour.
Crude oil is primarily being pushed lower by speculation about a gradual process between Washington and Tehran to reopen the Strait of Hormuz, a strategic hub for global oil transport. The market, however, remains sensitive to renewed tensions in the Middle East.
On the foreign exchange market'EUR is trading at $1,1385, while the dollar/yen exchange rate remains at 158,11. The greenback's strength is supported by traders' expectations about the Federal Reserve's next moves.
Also ' remains positive: the spot price rises by 0,58% to $4.305,21 an ounce, after a previous close at $4.280,52.
