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Stock market 9 October: the war between Hamas and Israel causes oil, the BTP-Bund spread and defense stocks to rise

Brent oil exceeds 88 dollars a barrel and in a weak stock market the sector's stocks are rising but in Milan above all Leonardo, leader of the Italian defense industry, is on the map

Stock market 9 October: the war between Hamas and Israel causes oil, the BTP-Bund spread and defense stocks to rise

International investors reposition themselves afterwards Hamas's attack on Israel and the prospect of another war, with the stock markets closing below parity after a very volatile day, while the price of oil rises and the price of gas rises.

The absolute protagonists of the stock session, both in Europe and on Wall Street, are energy and defense stocks, with Leonardo (+ 4,79%), Tenaris (+ 3,93%), Eni (+ 2,27%) and Saipem (+1,8%) which help Business Square (-0,46% to 27.682 points) to limit the damage of a day that many thought on the eve of it would become a nightmare.

Oil and gas prices are rising. The spread also rises

Hamas's attack on Israel sent prices into orbit Petroleum: Brent rises by 4,08% to 88,03 dollars per barrel, while WTI stands at 86,36 dollars per barrel (+4,31%). In the morning, theOPEC announced that oil demand will continue to increase until at least 2045 and at a faster rate than previously estimated. The scenario designed by OPEC is a demand of 116 million barrels per day by 2045, around 6 million more than the 109,8 previously estimated.

even the gas is rising sharply, with the price on the Amsterdam Stock Exchange rising to 43,08 euros per megawatt hour (+14,57%). On the currency front, the exchange euro Dollar it is at 1,0547, (-0,08%) compared to the opening price. Purchases on gold, a safe haven par excellence, which gained 1,07% to 1.852 dollars an ounce.

Moving on to the secondary, at the end of the session the spread among Italian and German government bonds it rises to 206 points (+0,7%), with the yield on the Italian ten-year bond standing at 4,84% (-2,4%).

European stock markets closed: defense and energy limit the damage 

At the top of Stoxx Europe are the major European defense stocks, driven by the possibility of new orders due to the Hamas attack against Israel: not only Leonardo, but also Rheinmetall (+6,5%) in Frankfurt, Thales (+ 4,8%) and Dassault Aviation (+4,1%) in Paris. The energetic ones follow closely behind Shell (+ 3%), Repsol (+ 2,7%), Bp (+ 2,2%) and TotalEnergies (+ 1,7%). 

Marathon performances which, however, were not enough to keep the price lists afloat. If Piazza Affari loses half a point, the other European stock exchanges do worse: Madrid (-1,1%), Frankfurt (-0,7%), Paris (-0,6%). It only reaches parity (+0,03%). London.

Wall Street down, T-Bond yields rise

US stock markets are also declining (-0,35%). S & P 500, -0,8% the Nasdaq) despite the rush of energy companies and the defense sector: Lockheed Martin e Northrop Grumman Corp. they gain, respectively, 7,2% and 8%, achieving the best performance of the S&P 500, together with L3 Harris Technologies, a defense technology company, up 7%.

Among the energetic ones the best is Marathon Oil (+4,3%), followed by Chevron (+2,4%). On the contrary, airline and shipping company stocks sank: Carnival Corp. (-5,4%), Delta Air Lines (-4,9%), American Airlines (-4,6%), United Airlines (-4,3%) And Royal Caribbean Cruises (-3,4%). 

Meanwhile, U.S. Treasury bond prices are falling, while yields on 10- and 30-year bonds are nearing their highest levels since 2007, reached last Tuesday. The 4,795-year yield is up to 4,716% from 5% on Friday, while the 4,751-year bond is up to 30% and the 4,96-year bond is up to XNUMX%.

How it went at Piazza Affari

The script seen in the other squares is also repeated in Milan, where Leonardo and the oil men dominate the scene. Other energy stocks also rose: Snam (+ 1,1%), Terna (+ 1,1%), A2a e italgas, both at +0,6%.

The sales instead hit the banks. The worst headline of the day is Ps (-6,25%), followed by Bper (-4,67%). Also in red Bpm bank (-2,84%), Fineco (-2%) And Banca Mediolanum (-1,79%). 

They suffer Iveco (-4%) and Amplifon (-4%), hit by a downward revision of the price target by Intermonte from 35 to 31 euros, reflecting, the analysts write, "a higher risk-free rate, from 4,0% to 4,5, XNUMX%'”.

Out of the Ftse Mib, the Juventus after the announcement of third capital increase in four years.

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