Even this was not needed: to the worries about trade tensions between the US and China, to the fear of an artificial intelligence bubble, to the shutdown of the US government now comes thedisturbing shiver for the stability of local US banks: overnight, two regional banks announced their heavy exposure due to loan fraud. Fears of a recurrence of a US credit crisis have pushed equity investors to take the money from the table rather than making bold positioning moves, in view of another weekend of potential shocks geopolitical. So stocks are in the red and investors who have been holding on to every safe assetand at our precious metals ai government bonds. rose to a new record high of $4.378,69 an ounce and is poised to close the week with an 8,9% gain, its biggest weekly gain since September 2008, when the Lehman Brothers Collapse fueled the global financial crisis. The European stocks they seemed destined for a sharp drop at the opening
In geopolitical news, President Donald Trump and his Russian counterpart Vladimir Putin During a two-hour phone call, their first in two months, they agreed to meet in Budapest.
Wall Street plummets, led by financial markets. Regional banks collapse.
IERI (Yesterday) Wall Street All three major U.S. stock indexes reversed early gains, closing lower. negative territory, dragged by financial headlines, while concerns about latent trade tensions between the United States continue. Dow Jones fell by 0,65% to 45.952,24, the S&P 500 fell by 0,63% to 6.629,08 and the Nasdaq Composite fell 0,47% to 22.562,54, while the index S&P Regional Banks Select Industry fell by 6,3%, the biggest drop since April's tariff-induced sell-off.
Zion's Bancorp fell 13% after a write-down of 50 million of dollars tied to a loan from the California Bank & Trust, while Western Alliance Bancorp fell 11% after revealing aexposure to the same borrowers. Compared to the recent collapses of First Brands Group and Tricolor Holdings , the damages disclosed by regional banks Zions Bancorp and Western Alliance Bancorp appear to be small: we are talking about a figure in the order of tens of millions, not billions. However, the consecutive disclosure of loan fraud It has reignited a simmering debate on Wall Street about whether the era of free capital is about to punish both banks and non-banks.
In the case of Zions and Western Alliance, the alleged culprits were the same: investment funds linked to Andrew Stupin and Gerald Marcil, among others, had borrowed the funds to finance the purchase of distressed commercial mortgagesA lawsuit filed by Zions revealed that its wholly owned subsidiary, California Bank & Trust, had provided $60 million to borrowers and that an investigation found that many of the underlying securities and properties had been transferred to other entities – allegations that lawyers for Stupin and Marcil said they "vehemently deny." The revelations add to other recent loan collapses, including that of the subprime auto lender Tricolor Holdings, which he declared bankruptcy last month, triggering a near-total write-off of some of the debt. This was followed by the collapse of the auto parts supplier. First Brands Group, which owed over $10 billion to some of the biggest names on Wall Street.
I treasury bonds have regained their safe-haven appeal, rallying for the third consecutive week. Two-year U.S. Treasury yields hit a new three-year low of 3,3890%, as investors bet the Federal Reserve will have to cut rates twice by the end of the year, with the possibility of a cut of as much as 50 basis points.
Asia declines on U.S. credit concerns. New iPhones sell like hotcakes in China.
Asian stocks fell and Treasuries extended gains, as signs of credit stress at U.S. regional banks have unnerved investors. Japan The Tokyo stock market is down, with the Nikkei index down 1,1%, and its weekly reading is negative at 2,5%. Parliament will meet on Tuesday to try to nominate a new prime minister, but the outcome remains uncertain, as a large segment of the minority parties refuse to side with Sanae Takaichi, the president chosen by the DLP, the largest party. Bank of Japan Governor Kazuo Ueda has left the door open to a short-term interest rate hike.
All down bags of China. The Hang Seng index of Hong Kong at -1,6% and -3% in the week. CSI 300 of the stock markets Shanghai and Shenzhen At -1,3%, the week ending with a decline of 1,1%. Taipei's Taipei Taiex fell 0,8%, but the weekly balance was positive, +0,5%. Technology sectors also suffered: the Hong Kong tech index fell 2,8%. Taiwan Semiconductor Manufacturing Co. lost 1,7% in Taipei.
Sales of the new iPhone model, which only recently received regulatory approval in China, began today with long lines outside stores. Apple's iPhone Air sold out within minutes at all physical stores in Beijing and Shanghai, as well as in cities like Tianjin, according to Apple's website. The strong sales followed CEO Tim Cook's visit this week to promote the product in the world's largest smartphone market.
The bag of South Korea It is slightly up, enough to update its all-time high, with a provisional weekly reading of +4%. In India, the BSE Sensex index is at par and is set to close the week with a gain of 1,2%.
The dollar index fell, while the yen strengthened above 150 against the greenback. The Swiss franc also gained ground.
European stocks seen opening sharply lower
European stock markets expected to decline sharply: Eurostoxx 50 futures down 1,10%.
Btp Value: today the Treasury announces the coupons
bbva Its attempt to acquire Banco de Sabadell failed. Its hostile all-share bid, which valued its smaller rival at approximately €16,3 billion, fell short of the minimum threshold.
Bper Banca-Banca Popolare di Sondrio. The merger plan will be submitted to the boards of directors of the two institutions on November 5th, with completion expected by the first half of 2026. In view of the completion of the transaction, BPER's board of directors has approved the activation of generational turnover with the voluntary departure of 800 group employees, primarily in 2026.
Unipol has launched a share buyback program for a maximum of 2,1 million shares for a maximum value of 1 billion.
Brunello Cucinelli. October confirmed the excellent sales performance seen in the first nine months of the year across all geographic regions. Revenues for the first nine months of the year totaled €1,019 billion (+10,8% year-over-year). In the third quarter alone, revenues reached €335 million (+11,8%).
Intesa Sanpaolo – Barclays raised its target price to 6,6 euros from 5,7 euros.
Poste Italiane – Morgan Stanley has lowered its target price to 20,5 euros from 21 euros previously.
Unicredit – Barclays lowered its target price to 69,2 euros from 70 euros.
believe – Barclays raised its target price to 14,3 euros from 12,6 euros.
Juventus UEFA has notified the company of the launch of an investigation into a possible violation of financial fair play, with a result expected in spring next year. The controlling shareholder, Exor, has submitted its list of candidates for the renewal of the entire board of directors. Cryptocurrency company Tether, the second largest shareholder with 11,5%, has submitted two candidates.
