Le European stock exchanges They open in a scattered fashion and without much enthusiasm after the previous day's rush, in a context that remains cautious and guided by the conflict in the Middle EastIran is expected to respond today, May 7, through Pakistani mediators to the US proposal to end the conflict, according to CNN. Talks could begin as early as next week in Islamabad. In this context, the president's statements Donald Trump to the network Pbs They have fueled cautious optimism, albeit accompanied by tones of strong pressure: on the one hand, the concrete possibility of an end to the war, on the other, the warning that, otherwise, there could be a return to "carpet bombing".
In this climate suspended between hope and tension, European stock markets are moving without a clear direction: Milan e Madrid fluctuate just above parity, while Paris e Frankfurt show a slightly more lively trend. London, however, is weaker and remains in negative territory, also in light of the polls opened in UK for local and regional elections, considered a significant political test for Prime Minister Keir Starmer.
The same uncertainty is reflected in energy commodities, which are trying to rebound after the sharp decline the day before, when prices had fallen to their lowest levels in the last two weeks.eoil is thus attempting a technical recovery, with Brent getting closer to 102 dollars and WTI returning above 95. Even gas European power in Amsterdam shows a slight recovery, although remaining below 45 euros per megawatt hour and far from recent highs.
However, the climate remains one of wait-and-see: investors are also looking at the US non-farm payrolls Key data to understand the Federal Reserve's next moves is coming out on Friday, May 8th. In parallel, several speeches by central bankers from the Fed and ECB are also expected today, as geopolitical risk continues to weigh on inflation prospects and supply chains.
Asia is betting on an end to hostilities between the US and Iran.
In Asia, however, a decidedly more optimistic tone prevails, with a session led by Tokyo and from the technology sector. The Nikkei closed at +5,58% above 62.800 points, while the Topix closed at 3840,49 points with an increase of 3%, supported above all by the semiconductors and from the idea that tensions in the Middle East may be moving towards a de-escalation phase.
The sector is also benefiting from the strong performance of global chips and positive signals from Wall Street, with knock-on effects throughout the Japanese semiconductor industry. Kioxia stands out, hitting its daily high, while Renesas Electronics and Ibiden are leading the gains.
The positive sentiment is also reflected on China and Hong Kong, where the improvement in risk appetite supports the indices. CSI300 salt by 0,2%, lo Shanghai Composite by 0,3% and theHang Seng of 1,6%. A Hong Kong Technology stocks rose 3,1%, with Alibaba up 4,3%, while tourism benefited from increased travel during the May Day holiday. Energy and coal, on the other hand, were weaker, while consumer sectors such as spirits and food & beverage remained in positive territory.
A rain of quarterly reports at Piazza Affari
Luxury stands out on the Milanese price list: BRUNELLO CUCINELLI rises by 3,12%, followed by Moncler (+2,36%). Well too stm (+ 1,80%) and Buzzi (+1,79%). Investors' attention, however, is focused primarily on corporate results: Poste Italiane closed a solid first quarter, with revenues growing to 3,5 billion and operating profit increasing by double digits, supported by all divisions. Tim remains in the spotlight both for its results, which are growing moderately but in line with expectations, and for the dispute with Sky related to Serie A and the agreements with Dazn.
Bper falls by 2,47% despite a profit above expectations and solid margins, with the market looking above all at the update of the industrial plan, also in light of the integration with Banca Popolare di Sondrio, expected for 6 August 2026. In contrast to the trend FinecoBank, which confirms growth thanks to the contribution of all business areas, while nexi (+1,62%) shows a moderate increase in revenues and an improving EBITDA, confirming the guidance.
Campari records organic net sales growth of 2,9% and confirms its 2026 financial year targets, but the stock price falls by more than 10%. Heavy sales also on Tenaris (-5,88%) improves turnover and profitability, with net profit growing to 540,7 million dollars, and also announces a change at the top: Gabriel Podskubka is the new CEO, while Paolo Rocca remains president. Utilities also decline, with Snam, Terna, Hera e Italgas among the worst, and Eni (-2,94%). Iveco closed the quarter with revenues of 2,83 billion and a negative adjusted EBIT of 55 million, announcing the closing of the Tata Motors takeover bid, expected within the third quarter. The company's financial statements are also expected to be Enel, Pirelli e Terna.
In the banking sector, UniCredit rose 1,76% after a non-binding agreement to sell part of its Russian operations, with AO Bank involved in a transaction with a United Arab Emirates investor. The deal remains subject to regulatory approvals. New tensions, however, are emerging in Ps, where Fabrizio Palermo resigned from the board of directors due to disagreements over governance, after contesting some internal decisions.
In the media sector, the spotlight is on Mfe, following the announcement by the Minister of Justice Carlo Nordio of a civil action for alleged damage to his image linked to the Minetti case and to statements made in the past.
Lo spread is stable at 73 points, while the ten-year yield falls further.
Other markets
on the currency theeuro remains stable against the dollar at 1,175, while the single currency strengthens slightly against the yen at 183,73. The dollar stands at 156,35 against the Japanese currency. The Bitcoin, which fell by 0,7% to 80.958,5 dollars.
Among safe haven assets, the rise in , which gained 0,5% to $4.713,3 an ounce, while thesilver marks a more significant increase of 1,5% to 78,4 dollars.
