Quarterly reports save the European stock exchanges. I listini del vecchio continente tengono dopo il pesante sell off che ha colpito i mercati asiatici, con Seoul and Tokyo which lost more than 4% and more than 10% respectively due to fears related to the prospects of AI that also weighed on Wall Street yesterday. Investors are looking at the negotiations between Nvidia (-1,5% in Wall Street after-hours trading) and OpenAI, with the chip giant pledging approximately $250 billion in financial support for ChatGpt's parent company as part of a massive data center project in Ohio. This is yet another stellar investment in AI development, though it's still unclear how and when these investments will translate into profits.
In the meantime, we await the decision of the Fed on interest rates, with the FOMC meeting starting today, and on new developments in the Middle East. Talks with Iran, according to US President Donald Trump, are continuing and there is a "good chance" of a breakthrough. These words are pushing oil prices down again. Petroleum, with Brent in the 86 dollar per barrel area and WTI above 80 dollars. Already the gas,which is moving above 56 euros per megawatt hour on the Amsterdam TTF.
In this context from Paris to Frankfurt, Madrid to London and Amsterdam purchases predominate, while Milan is the tail light, weighed down by the Saipem's collapse dopo i conti. Contrastati i futures di Wall Street, con Dow Jones e S&P 500 in rialzo mentre il Nasdaq resta in rosso, penalizzato dalla pressione sul comparto tecnologico.
Tornando a Piazza Affari, avanzano i titoli della Difesa, con Leonardo, Avio and Fincantieri which achieved the best performances of the FTSE MIB. The collapse of Seoul (-10%) and of Asian chips weighed down Prysmian e Stmicroelectronics.
Luxury stocks are in good shape: Ferrari and Cucinelli they rise thanks to the LVMH positive results. Well Stellantis (+1,28%) with the entire European automotive sector following the rally Mercedes Benz in Frankfurt, while the banking sector looks on the one hand at the data of Barclays (in sharp decline in London) and on the other hand to the risk game, with the hypothesis of a merger between MPS and BPM in an alternative operation to the offer of Understanding on the mountain. All three stocks involved are trading higher.
Off the main list, runs The Italian Sea Group with the confirmation of the interest of Saint Lawrence.
On other markets, the euro trading at $1,1372 from yesterday's closing of $1,1376 while spot gold scende dello 0,6% a 4.052 dollari l’oncia. Il ten-year BTP benchmark shows a yield of 3,91%, down from 3,93% in the previous session. spread With the German Bund of the same maturity, it narrowed slightly to 80 points from 81 at yesterday's closing. In yesterday's session, the spread had briefly returned below 80 for the first time since mid-July.
