WTI oil falls below $100 a barrel on Nymex and European stock exchanges reduce losses, closing far from the lows of the day. The focus continues to be on energy prices and rising tensions in the Middle East, while the G7 countries have said they are ready to take "the necessary measures" to support global energy supply, which could include releasing some of their strategic reserves. However, the decision has been put on hold for now, pending further developments.
Eyes also on the gas natural that in Amsterdam it continues to rise, and stands above 56 dollars per megawatt hour on the TTF platform. The mood remains cautious overseas too, with Wall Street which opens in decline.
READ MORE Stocks plunge today, with oil rallying. FT: G7 discusses releasing crude from reserves. di G. Bruschi
On the geopolitical front, the war in Iran enters its second week with no signs of dialogue between the parties involved. The appointment of Mojtaba Khamenei a Iran's new supreme leader, succeeding his father, further increases tensions with the United States and Israel, with the American president Donald Trump which has already declared that "it won't last long." Meanwhile, NATO intercepted and shot down an Iranian missile over Turkey.
In Milan, the FTSE MIB closed the session with a loss of just over 0,3% after losing 6,5% last week. Sales on Cucinelli, Stellantis Hera and Prysmian, below par the banks, with Ps e Mediobanca among the worst. Among the few rising stocks, the most notable is Leonardo, supported by the positive outlook from Barclays which confirms the “Overweight” rating with a target price of 68 euros. nexi benefits from the revision to the “Equal Weight” rating by Morgan Stanley, while Eni benefits from the increase in the price of crude oil and Goldman Sachs' upgrade to 21 euros. The oil group is also supported by rumors about Plenitude, its subsidiary dedicated to renewable energy, which according to the Corriere della Sera It could gain greater autonomy or exit the group's consolidation perimeter, with Mediobanca charged with studying the operation.
The tension on government bonds is easing a little, with the spread between BTPs and Bunds which closes at 76 basis points.
On the currency market, risk aversion supports the dollar at 1,6 for euro, while Bitcoin remains stable below 70 thousand dollars and their retraces slightly, remaining above $5.100 an ounce.
