While the war in the Middle East currently shows no sign of resolution and one after another mixed messages from Trump, the good news who pushed Asian stocks rise e Oil prices fall below $90 It arrived fromInternational Energy Agency which has proposed the largest release of crude oil reserves in its history, according to the Wall Street Journal. However, to avoid any further worries, JPMorgan Chase & Co. told private lenders that it had written down the value of some loans, limiting the lending it makes amid growing concerns about credit quality, the bank reported. Financial Times, causing a slowdown in the ongoing rally, particularly in banks. The affection for the technology stocks, considered less exposed to the war in the Middle East, thanks also to the 8% jump in the shares of Oracle infrastructures in after-hours trading, thanks to better-than-expected revenues. However markets are still nervous and unstable for developments in the Middle East after the mixed signals from Trump on the war in Iran and energy markets remain hostages of the duration and intensity of the conflict.
IEA proposes largest-ever oil stockpile release
According to the Wall Street Journal, theInternational Energy Agency has proposed the largest release of oil reserves ever, as governments seek to contain thesoaring prices of energy caused by the war in the Middle East. The proposal, released yesterday during an emergency meeting According to energy officials, this would exceed the 182 million barrels that member countries released in two tranches in 2022 after Russia's invasion of Ukraine, the newspaper reported, citing officials familiar with the matter. This would make it the largest release to date.
The global benchmark Brent gave up previous gains of nearly 4% on the news, before settling around 88 dollars a barrelThis morning it fell by 0,4% to 87,45 dollars a barrel, after the collapse of 11% in the previous session, while US crude oil rose by 0,3% to 83,67 dollars a barrel.expansion of the war , almost total closure of the Strait of Hormuz they brought to cuts by producers of the Persian Gulf, which have so far reduced world production by about 6% of oil, causing prices to skyrocket the entire energy sector: from jet fuel to cooking gas, all over the world.
Millions of barrels of crude oil and fuel remain blocked on oil tankers unable to pass through the strait, where the ships were attacked. Earlier this week, the G7 nations They had asked the IEA to prepare scenarios for the release of emergency oil stocks. Countries want to be ready to use oil reserves if needed and have instructed the IEA to study the volumes that could be released, the IEA told reporters yesterday. French Finance Minister Roland Lescure.
The proposal could be postponed if a single country objects. It is expected that the countries will vote on the proposal. later todaysaid the JournalAccording to the group, which oversees the coordinated release of stocks, the 32 countries that belong to the IEA collectively hold at least 1,2 billion barrels of oil in public emergency reserves.
Yesterday, Wall Street closed by erasing its initial gains. Tech stocks are back in lust: Oracle up 8% after the data.
IERI (Yesterday) wall street, started off pretty well, he lost momentum during the session, with the index S & P 500 that has gave up initial gains slipping into negative territory (-0,21%). The Dow Jones closed down 0,07%, while the Nasdaq (+0,01) achieved a nominal gain. Investors were pricing in increasingly faltering hopes for an early end to the US-Israeli war against Iran, while the military threats and grew up concerns about economic stagflationChipmakers rallied yesterday with Nvidia up 1,2%, while SanDisk e Western Digital rose by 5,1% and 1,6% respectively. Shares of Oracle infrastructures rose more than 7% in extended trading after the company released its better-than-expected quarterly earnings report and said that demand for cloud computing for AI training continues to outstrip supply.
After theIran he made it known that he was deploying mines in the Strait of Hormuz, Trump reacted with threats of retaliation and renewed appeals to total surrender of IranThe United States has announced that it has 16 Iranian minelayers destroyed near the Strait of Hormuz. Volatility increased when the U.S. Secretary of Energy Chris Wright mistakenly posted, and then deleted, a message that the U.S. Navy had escorted an oil tanker through the Strait of Hormuz, only to have the White House later admit that no such operation had taken place.
The Trump administration has also expressed some willingness to end oil sanctions against Russia while increasing the possibility of progress towards the end of Russia's war against Ukraine.
Investors are waiting US inflation data today February, after the latest employment report challenged the perception that the labor market was stabilizing. Core inflation, which excludes volatile food and energy costs, is expected to rise by only 0,2%. This would suggest some easing of price pressures before the outbreak of war in Iran introduced new uncertainty about the inflation outlook.
This morning the futures on US stock indexes indicate a higher opening on Wall Street between 0,2% and 0,3%. Treasuries rose, with the yield on the benchmark 10-year note falling one basis point to 4,14% today.
Softbank surges in Asia, following Oracle. China tightens its AI reins.
Asian stocks rose after news eased oil tensions, with the MSCI Asia Pacific Index rising 1,5% for a second day.
In Japan the Nikkei rises by 1,4%, the Topix by 1%, thanks mainly to stocks linked to theartificial intelligence after the good data from Oracle, involved in the Stargate project and therefore closely linked to Softbank which in fact gained +6% this morning, but also Fujikura earns 7%, Advanced the 4%. Nintendo rose 10% thanks to the success of its new Pokémon game, which offset concerns about rising memory costs.
In China, the CSI 300 gains 0,6%, Shanghai composite +0,3%, Shenzhen composite +0,5%. Chinese authorities are limiting the use of OpenClaw AI apps by state-owned enterprises and government agencies to reduce potential security risks. OpenClaw AI is an AI platform that requires extensive access to private data to operate: among other tasks, it can manage users' emails, book restaurants, and check in for flights. The tool can be connected to messaging apps like WhatsApp and Slack. OpenClaw AI reports: Bloomberg Citing sources familiar with the matter, he added that the ban also extends to the families of military personnel. The news sent Chinese AI-related stocks down: MiniMax Group -9%, Knowledge Atlas Technology JSC, known as Zhipu, -7%. The index Hang Seng of Hong Kong it's a little rough.
In South KoreaThe Kospi rose 1,4%, reaching its highest level since March 3. This quarter, the index rose 33%, on track for its biggest gain in 10 years. Among the stocks, Samsung Electronics gains 1,1%, while Seoul Food Industrial recorded the biggest increase, +30%.
Il dollar has maintained its gains and returned to being the preferred safe haven asset in the current market turbulence. Compared to the yen, the dollar rose slightly to 158,15, while theEuro and the pound have accumulated losses and reached $1,1633 and $1,3450 respectively. extended the gains of the previous session, exceeding $5.200 an ounce.
European stock markets opened lower. At the Milan Stock Exchange, Leonardo, Mediobanca, and Tim are all eyes on the stock market.
European stock markets are set to open lower. Euro Stoxx futures are down 0,3%.
Poste ItalianeMatteo Del Fante will continue to lead the Poste Italiane group in a fourth term, according to sources. ReutersDel Fante, who has led Poste Italiane since 2017 and whose third term expires in April, will receive another three-year mandate from the government at the helm of the publicly owned company.
LeonardoIt has signed a new five-year €600 million credit line with a pool of international and domestic banks to refinance the debt repaid in January.
MediobancaThe Board of Directors approved the merger with Monte Dei Paschi. Mediobanca shareholders will receive 2,450 MPS shares for each share held. MPS said it will propose a cash dividend of €0,86 per share at the next shareholders' meeting on April 15.
IvecoIveco Defence Vehicles signs the contract with the Romanian Ministry of Defence for the supply of the third and final tranche of trucks (860) of the agreement signed in 2019 which included 2.900 vehicles. Delivery is expected within the next 3 years.
PirelliCamfin purchased 2,9 million shares.
Italian post. Matteo Del Fante will continue to lead the group for a fourth term. At the helm since 2017, he will receive a new three-year mandate from the government when his current term expires in April.
StellantisA €5 billion hybrid debt transaction has been launched, with an average yield of approximately 6,9%.
TIMToday the Board of Directors is discussing the budget.
Mfe. It has subscribed to a 32,9% stake in the Portuguese media group Impresa through a reserved capital increase of 17,3 million euros.
Salvatore FerragamoToday the Board of Directors is discussing the budget.
