A positive session for Euro-Atlantic markets, which have evidently digested the tariff issue (which, however, is destined to generate further tensions) to focus optimistically on the prospects related to Artificial Intelligence. In particular, there is waiting for Nvidia's accounts which will arrive in the middle of the Italian night, and then there are several increases here and there linked to the quarterly reports that are coming out these daysYesterday, for example, it was Saipem's turn, which beat expectations, and by Telecom Italia which achieved all its objectives and streamlined its business: today the market response is better for the oil company (+2,5%), while Tim gains 1%, just a little less than the Ftse Mib. The main index of the Milan Stock Exchange closed at +1,1%. at 47.170 points, driven by the rally in banks that is pervading all of Europe: Mediobanca +4,6%, Mps +4,3%, Finecobank +4%, Unicredit +2% on the possible turning point for Commerzbank, Intesa Sanpaolo +0,9%.
Quarterly results day at Piazza Affari
Speaking of quarterly reports, today was published Leonardo's, which saw a sharp reduction in debt while the business plan update is expected on March 12. However, the "sell on news" effect prevailed: the stock fell 3,8%, dragging Fincantieri down 2,2%. Expectations this evening for Eni, Poste Italiane and PirelliOutside Italy, other stock markets are also rising, driven by financial stocks: Paris +0,4%, Frankfurt +0,6%, London +1,1%. On the macroeconomic front, Eurostat reported that The euro area's annual inflation rate was 1,7% In January 2026, down from 2% in December: a year earlier, the rate was 2,5%. Annual inflation in the European Union was 2% in January 2026, down from 2,3% in December: a year earlier, the rate was 2,8%. Still looking at macroeconomic data, but moving across the Atlantic, US oil inventories rose much more than expected in the last week: they rose by around 16 million barrels, versus expectations for an increase of 1,8 million.
Commodities: Oil prices fall, JP Morgan sees gold above $6.000 by 2026
As a result of rising inventories, oil prices are retracing today: Brent crude falls below $71 a barrel but remains close to $70,6, while WTI crude oil loses half a percentage point to $65 a barrel. Gold, on the other hand, is rising, with JP Morgan now predicting a future price of $6.300 an ounce by the end of this year. According to analysts, the combination of risks geopolitical, the interest rate reduction cycle of the Federal Reserve and the massive ones shopping from the banks stations and and to investors It will be crucial to push prices toward new targets. Meanwhile, today the metal is up more than 1%, nearing $5.200 an ounce. Silver is doing even better in percentage terms, gaining 4% and finally reaching $90 an ounce. Also noteworthy today is the jump in lithium, up 6,5% and platinum, up 6%.
Wall Street starts strong: Nasdaq gains 1% ahead of Nvidia's earnings.
Today's session is also positive for the US markets: just before the European stock markets close their doors, the Dow Jones gains 0,3% and the Nasdaq rises 1% as we wait to see what will happen to artificial intelligence. Through the accounts and prospects of Nvidia, whose stock has meanwhile gained 1,7% to near $200 per share. Noteworthy this session is Netflix's performance, which jumped 5% to above $81 per share, only partially recovering from the bearish trend of recent months (it was still above $100 at the beginning of January). Other tech stocks: Apple +0,8%, Tesla +1%, Amazon +0,6%, Microsoft +2%, Meta +1,2%; Alphabet, on the other hand, has fallen 0,2%. Bitcoin catches its breath, returning above the $67.000 mark. rising by 5%. The US dollar depreciates against the euro, with the exchange rate hovering around 1,18. The BTP-Bund spread falls to just above 60 basis points, with the yield on the 10-year BTP at 3,32%.
