The Bull raises its head on the world stock markets, while the WSJ writes that Tehran is ready to end hostilities and resume negotiations on its nuclear programs. Meanwhile Israel announces that it has control of Iranian skies. At the same time, the Petroleum, after the peaks reached on Friday with Tel Aviv's attack on the Islamic country and the risk of a widening of the conflict.
In Europe, the stock markets thus closed with progress and Business Square is one of the best (+1,24%, 39.929 basis points), thanks to the rebound of the banks (Unicredit +3,44%). Also good Frankfurt + 0,83% Amsterdam + 0,25% Madrid +1,51% and London + 0,25%.
Paris pushes up to +0,75%, despite the collapse of Renault (-7,89%). The news of the French company's stock market earthquake triggered theLuca de Meo's exit, destined to take the helm of the luxury group Kering (Gucci), +13,52%.
Overseas the trend is positive Wall Street in the American morning and the risk appetite rewards above all the magnificent seven. Telecommunications companies T-Mobile Us, AT&T and Verizon are mixed and are wondering about the launch by the Trump Organization, a branded mobile phone network called TrumpMobile.
On the tariff front, hope is being raised that theXNUMX-XNUMX business days and the United States are about to find a compromise. According to rumors coming from Germany, the EU is in fact ready to accept a trade agreement based on fixed duties at 10%, provided that the agreement is defined according to clear criteria shared by the parties. The aim is to avoid the imposition of higher tariffs on strategic sectors such as automotive, pharmaceuticals and electronic components. At the moment, however, Washington has not responded.
Oil down
It's a good day, but volatility remains around the corner and the G7 meeting, which kicks off today in Canada, will also address the risk of disruptions in the Strait of Hormuz, which passes through about a fifth of global oil consumption. Reuters writes that there would be a draft joint declaration for a de-escalation of the conflict between Israel and Iran, but Trump has not yet approved it.
Meanwhile, investors are cashing in on theblack gold, after the rain of purchases of the last week. The August futures of Brent and Wti are currently retreating by more than 3%, with prices respectively of 71,77 dollars a barrel and 68,91 dollars a barrel.
The slightly more relaxed climate favors some achievements on thegold and spot gold is moving down 0,82% to $3404,44 an ounce.
Busy Week for Central Banks, Dollar Down
The currency market is also in fibrillation at the start of a week full of central bank meetings. The most important is the fed, from which no surprises are expected on rates on Wednesday (which will remain at 4,25%-4,5%), but the quarterly economic forecasts and the rhetoric of the bankers will be carefully evaluated.
The most relevant news could come from the Swiss Central Bank, the first that could bring key rates back to zero. The odds of a cut into negative territory are even rising, due to the strengthening of the franc, in a context of internal deflation. Last week, the Swiss currency almost reached its highest level in over 10 years.
The verdict will be pronounced tomorrow BoJ and Thursday the BoE, from which no rate cuts are expected.
In this context, the dollar appears stable against most currencies, particularly against the yen and the Swiss franc. On the other hand, the'EUR, which sees a cross near 1,16.
Piazza Affari, spotlight on banks
The spotlight in Milan is still mostly on the banking sector, even though D-Day Mediobanca (+1,17%) was postponed to September 25th. Piazzetta Cuccia has in fact chosen the first days of autumn to hold the assembly that will have to vote on the Ops proposal on General Bank (-2,28%). According to many observers, CEO Alberto Nagel was not certain of winning and thus preferred to avoid the confrontation today. The fact remains that between the stock market value of Mediobanca and that of Mps there is a gap of 7,5% in favor of Piazzetta Cuccia which will weigh in the Siena takeover bid on Mediobanca itself. Among the shareholders who probably would have voted against the takeover bid of Piazzetta Cuccia on Banca Generali there is also Unicredit, which has a 2% stake in Mediobanca and today shines on the stock market as the queen of blue chips. Good Bpm desk, +1,5%, possible but difficult prey for Piazza Gae Aulenti.
I'm in the light Bper +2,12% and Popular of Sondrio +2,21%, on the day of the launch of the Modena polar offer on the Valtellina bank. It shines with its own light Understanding + 2,35%.
In the rest of the list they are appreciated Prysmian + 3,3% Buzzi + 2,77% Telecom + 3,04% nexi + 1,88%. Interpump +1,46%, after announcing the acquisition of 65% of the Veneto-based Padoan, specialized in tanks for industrial vehicles.
The automotive stocks on Piazza Affari are cautiously positive, despite the collapse of Renault in Paris. Among the Milanese blue chips that are falling are some utilities starting from A2a -1,36%. Goes down Generali (-0,55%), which controls Banca Generali. Oil stocks flat.
Declining spreads and rates
Despite the Italian public debt reaching a new historical record of 3.063,5 billion in April, government bonds closed a positive session.
On the secondary it spread between 10-year BTPs and 10-year Bunds it retreats to 95 basis points and yields are also pointing downwards and are indicated at closing at 3,47% and 2,52% respectively.
