It's a festive Monday for financial markets. After weeks of turmoil due to concerns over military escalation in the Middle East, the prospects of an agreement between the US and Iran (even if Tehran has not yet confirmed it) The week started off on the right foot for stock markets across the West. The day began with another difficult start, with Asian markets plummeting. but then the music changed“15-point agreement with Iran, they will never have a nuclear weapon,” thundered at one point President Donald Trump, who also spoke of reopening of the Strait of Hormuz, "with joint control". And so Milan +0,81%, Paris +0,79%, Frankfurt +1,2%, London +0,3%, Euro Stoxx 50 index -1,2%, Dow Jones +1,2%, Nasdaq Composite Index +1,3%. possible truce in the Middle East It also involves the collapse of oil prices, which however is relative: Brent remains above 100 dollars a barrel and has still gained almost 70% since the beginning of the year, while WTI Crude Oil from New York has lost more than 7% to around 90 dollars a barrel (+60% since the beginning of the year).
Gold falls below $4.400, the euro and Bitcoin recover, and the BTP-Bund spread narrows.
However, this climate does not help safe haven commodities to catch their breath: simply gold and silver are going out of fashion and therefore despite the euphoria of this Monday Gold falls below $4.400 an ounce, its lowest since early JanuarySilver actually gained a bit today, but remained below $70 an ounce, its lowest level since before Christmas. The bullish sentiment, however, impacted the currency market, pushing both the euro against the dollar and Bitcoin: the latter, after the ups and downs of recent weeks, regained the $70.000 mark. The European currency brings its exchange rate against the US dollar close to 1,16A session like today's certainly eases tensions on government bonds: the BTP-Bund spread loses a couple of percentage points and falls to around 90 basis points, after having touched 104 basis points. The yield on the 10-year BTP falls to 3,93%.
Telecom is holding the forefront at Piazza Affari (+4,7%) following Poste Italiane's offer (-6,85%). Banks are doing well.
In Milan, the main topic is thetakeover bid launched by Poste Italiane on Telecom ItaliaPoste Italiane CEO Matteo Del Fante clarified that TIM will remain standalone and that the transaction will be completed by the end of the year. The market's reaction is that Telecom Italia is the best stock in the Ftse Mib with 4,7% gain., while Poste itself fell 6,85%. Eni also fell by 3,6% and Leonardo by 2,3%, while along with TIM, the banks rebounded: Banco Bpm +3,7%, Bper Banca +3,5%, Unicredit +3,3%, Intesa Sanpaolo +3,1%, Pop Sondrio +3,1%. The Italian Stock Exchange's main index today regains 43.000 points, even if it significantly reduced its gains towards the end. Like Milan, or even better, the rest of Europe is doing. In Paris, in addition to banks, luxury goods are also recovering, with Kering gaining 4,7%, while Commerzbank, still in the sights of our Unicredit, continues to be a major player on the Frankfurt DAX, up 4%.
Wall Street also started strong: tech stocks stood out on the Nasdaq
A very good start to the week for US technology stocks, always under observation: Nvidia today +1,6%, Tesla +3%, Apple +1,4%, Amazon +2,9%, Meta +1,5%, more timid Alphabet and Microsoft while Micron loses 4%.
