Another day of ordinary madness on the financial markets, carried away by the daily outbursts of US President Donald Trump. The stock market week opens with a slump in European markets, weighed down by tensions over Greenland are now well known and Washington's threat to impose new tariffs on EU countries that are supporting the sovereignty of the Arctic territory and its belonging to Denmark. In this regard, the Danish government has announced that it will not participate in the World Economic Forum in Davos, which opened today and which Trump will instead attend, having scheduled a speech for Wednesday. The Swiss event will effectively be a ring in which the US and EU will fiercely clash over Ukraine and Greenland. In this context, Piazza Affari plunges by 1,3% At 45.195 points, with a range of stocks falling, from Amplifon -6,2% to Stm -4,7%, from Cucinelli -3,4% to Ferrari -2,5%. Not to mention the banks: Unicredit -1,5%, BPM -0,24%, Mediobanca -0,5%, Pop Sondrio -0,8%, Intesa Sanpaolo -0,7%. Only MPS is up by 1%.
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Banks are down at Piazza Affari, but Frankfurt and Paris are doing worse.
In a session like this, even the stocks favored by the winds of war, first and foremost those of Defense, fail to emerge significantly: Leonardo is the best performer on the Ftse Mib with 1,66%., but for example Fincantieri dropped 1%. Worth noting is the good performance of Telecom Italia +1%: today's news is that the company has integrated the composition of the Nominations and Remuneration and Related Parties Committees, which include Lorenzo Cavalaglio and Stefano Siragusa, respectively. Hera also performed well +0,33% after the announcement of the100% purchase of Sostelia in a transaction whose enterprise value is 138 million euros. Looking at other European stock markets, Frankfurt and Paris is doing even worse, sinking by almost 2%., dragged down by luxury stocks: LVMH -4,7%, Kering -4,4%, Hermès -3,4%. London limited the damage, but closed below par, as did Madrid.
Gold, silver, oil and spreads
The update on raw materials, the main protagonists of this phase, sees oil taking a breather today but still consolidating the growth of these last few weeks: Brent crude in London remains at $64 per barrel, less than the $66 reached on January 14th but still much higher than the $58 in mid-December. New York WTI crude fails to rejoin the $60 per barrel mark, but before Christmas it was below $55. Other commodities are soaring: natural gas jumps 18%, but above all gold and silver continue to rally, rising 1,6% respectively to approach $4.700 an ounce and 4,5% well above $90 an ounce, in the $94 area. Finally, BTP-Bund spread, now steadily and comfortably below 60 basis points: it's well known that markets are rooting for a stagnant but disciplined country. Today, the figure is around 58 points, with the yield on the 10-year BTP at 3,42%.
