I global markets They are travelling with caution, towed on Thursday by the technological and after that Tensions between the United States and Iran appear to have eased somewhat. In Asia The markets are proceeding in mixed fashion, with tech stocks still in evidence in the wake of the chip rally triggered by Tsmc, the world's largest manufacturer of advanced chips, headquartered in Taiwan, which yesterday recorded a 35% jump in net profit, higher than expected, signaling that demand fueled by theartificial intelligence remains strong. Futures are rising Wall Street, helped by the rebound of the three New York indexes, which rose yesterday, recovering from two consecutive losses, thanks to the pull of chips and banks.
Meanwhile this morning Milan starts in decline. The Ftse Eb drops 0,19% to 45.761 points. Sales on BRUNELLO CUCINELLI (-1,6%), Buzzi (-1,5%) And Tenaris (-1,5%). It goes back Ps (-1,2%) after the note issued by Delfin (Del Vecchio family). Positive Diasorin (+ 0,79%), Lottomatica (+ 0,56%), Leonardo (+0,2%). Other European stock markets also started weakly: Paris gives up 0,1% with the Cac-40 at 8.304 points. Frankfurt marks a -0,06% with the Dax at 25.33 points. Weak also London with the FTSE 100 dropping 0,13% to 10.225 points.
Meanwhile, on the Asian markets, oil prices continue to fall, after dropping nearly 5% yesterday, interrupting a streak of gains for the second day, after President Trump adopted a wait-and-see attitude towards the unrest in Iran, declaring that the Tehran authorities have stopped killing anti-regime protesters. Those breathing a sigh of relief were especially theSaudi Arabia, Turkey, Qatar, Oman andEgypt, whose governments have urged the Trump administration to exercise restraint, warning of the potential damage in the event of a US attack on the Iranian regime, including rising global oil and gas prices. gas. However, reliable sources say that military options remain on the table. "Trump is ready to pull the trigger and claim that de-escalation is a bluff," the sources say. Even the record rally in gold prices and silver it stopped to demonstrate that geopolitical tensions are a little less scary.
AI: New US-Taiwan deal infuriates China
Taiwan aims to remain the global hub ofartificial intelligence and semiconductors after the signing of the historic trade agreement with the United States, an agreement of strong geopolitical importance which aims to strengthen the axis with Washington and to rebalance the balance of power with the China. The pact, announced yesterday by the US Department of Commerce and celebrated by Taiwanese Prime Minister Cho Jung-tai as a “masterful home run”, cuts duties on the island's exports from 20% to 15%, aligning Taipei with competitors such as Japan and South Korea. In exchange, Taiwan is committing to a massive "reshoring" plan: companies on the island will make direct investments of at least $250 billion in the United States, accompanied by another $250 billion in credit guarantees to consolidate the American supply chain. The agreement has sparked Beijing's immediate reactionThe Chinese Foreign Ministry has said it "resolutely opposes" the agreement, calling it an act with sovereignty implications that violates the "one China" principle. Beijing views the initiative as a form of "economic plunder" by the United States at the expense of what it considers its own province.
Chinese and Tokyo stock markets: here's how they closed
More specifically, Chinese stock markets closed the session still in negative territory, despite the US-Taiwan trade agreement, reflecting the uncertainties surrounding the country's economy ahead of the fourth-quarter and full-year 2025 GDP data to be released on Monday: the Shanghai Composite Index fell 0,26% to 4.101,91 points, while the Shenzhen Composite Index lost 0,12% to 2.686,56 points.
The Tokyo Stock Exchange ended the week's final session in the red, with investors triggering profit-taking after the benchmark index reached all-time highs in recent days, surpassing the 54 mark. The Nikkei fell 0,32% to 53.936,17, a loss of 174 points. On the currency front, the yen appreciated to 158,50 against the dollar, strengthening from its lowest level in nearly two years, and to 184,40 against the euro. Finance Minister Satsuki Katayama stated that Tokyo "will not rule out any option" to counter the currency's weakness and raised the possibility of joint intervention with the United States to defend the struggling national currency. More generally, Japanese markets are bracing for a decisive week, following Prime Minister Sanae Takaichi's announcement (currently meeting with Giorgia Meloni) of early elections in February and in anticipation of the BOJ meeting.
Amazon, Rio Tinto copper deal: what it means
In all of this, Amazon Web Services has entered into a two-year supply agreement with the Nuton joint venture of Rio Tinto of the copper from an Arizona mine, which will be used to support AI-based data centers. This was revealed by Wall Street Journal, who notes that Rio Tinto's mine last year became the first new U.S. copper source in more than a decade. Amazon's move is the latest example of a tech company stepping up its game. rushing to secure the energy and essential materials needed to build and operate AI-powered data centers.
Nuton copper will only meet a fraction of Amazon's needs. The largest data centers each require tens of thousands of tons of copper for all the cables, bus bars, circuit boards, transformers, and other electrical components housed there. And the 14.000 tons of copper cathode that Rio plans to produce from the Arizona Nuton project over four years wouldn't be enough to supply even one of those facilities. The Nuton project uses bacteria and acids to extract copper from low-grade ores, offering a domestic supply with reduced energy and water consumption. The idea is to recover low-grade ore left in old mines and is crucial to Rio's plans to increase production at a time when new discoveries are more difficult than ever to exploit and copper demand is rising sharply. Demand for copper is expected to increase for artificial intelligence. will increase by 50% by 2040, while mine production will decline, resulting in a 25% deficit. Mining industry executives, analysts, and economic forecasters warn that a copper shortage risks hindering the artificial intelligence boom, which has fueled stock market gains and become the main driver of U.S. economic growth. Copper prices hit record highs this month in London and New York, where futures have risen 41% over the past year and in recent days have traded above $6 a pound for the first time.
Delfin: MPS stake sale never discussed, full support from management
And speaking of MPS falling at Piazza Affari, the board of directors of Dolphin has made it known that "he has not never discussed any possibility of selling off its financial stake in MPS, which largely derives from the conversion of shares previously held in Mediobanca”. With reference to recent press reports, “Delfin denies that negotiations are underway with Unicredit or other operators seeking the total or partial sale of their stake in MPS. As a long-term financial investor, Delfin operates with an approach geared towards creating value over time, in the best interests of the company and its shareholders, and also for the benefit of the country's growth. In this context, and also in light of an overall performance in line with its profitability and equity valuation objectives, Delfin renews full support for MPS's top management and to the ongoing strengthening process".
