Le European stock exchanges they struggle withhigh volatility after a dramatic Monday on a global level, characterized by three consecutive sessions of sharp declines and a growing fear of recession in the United States. The day began by trying to capitalize on Tokyo's record rebound, where the Nikkei posted its biggest single-day rise in its history after its worst decline in 37 years. However, theuncertainty prevailed in Europe and the indices have changed course, influenced by weakness in futures a Wall Street and the lack of relevant US economic data.
Halfway through the session, the main European markets are listed in random order: Milano with a limited decline of around 16%, while Frankfurt e London they travel just above parity. Lame too Paris with a decrease of 0,17%.
The question for investors is: is the market panic over, or could the most popular trades of the year – long tech, short Japanese yen – reverse again?
According to Bloomberg, This is not the time to panic. The recent declines were triggered by minimal factors, such as a slight increase in unemployment in the US and a modest rate hike in Japan. A recession in the US seems unlikely at the moment, and the Fed still has plenty of room to cut rates, currently at 5%. Additionally, the market is realizing that big tech companies' profit expectations were perhaps too optimistic. Although artificial intelligence represents a great revolution, it still does not justify the stellar prices of recent weeks.
MPS shines in Piazza Affari
A Business Square, the quarterly reports continue to hold sway. Ps leads the rise with an impressive growth of 8,16%, after touching 10% at the opening, supported by the news of a half-yearly net profit significantly higher than expected. They follow nexi (+ 2,64%), Iveco (+ 2,17%) and Team (+1,52%). In positive territory too Saipem (+ 1,32%).
Communications from are also awaited Bpm bank (+0,77%) regarding Numia, the payment services hub, and the data of Popular of Sondrio (+ 0,32%).
In the meantime, Ferrari it is the big disappointment of the day, with a drop of 1,7%. Brunello Cucinelli loses 1,41%, and Interpump drops 1,23%. Red also for Inwit which yields 1,18%.
Outside of the main price list, they shine Alerion Clean Power (+ 4,23%), Ferretti (+ 3,08%) and Mayor Tecnimont (+1,82%). The heaviest sales are concentrated on Digital Value, down sharply by 3,07%, followed by Tinexta (-1,59%).
The other markets
Il price of gold rises to 2.413,51 dollars per ounce, compared to 2.410,24 dollars at the previous close, while the Petroleum shows signs of volatility after reaching the lows of the year, with Brent at 76,8 dollars a barrel and WTI rising slightly to just over 73 dollars. The TTF gas rises above 36 euros per megawatt hour, with an increase of 2,5%, despite the fact that flows from Norway are returning to normal. Fears about the situation in the Middle East continue to influence the markets.
Il dollar strengthens, with the euro and other currencies affected.
Lo spread between BTP and Bund narrows, dropping to 150 basis points. The yield on the 3,64-year BTP remains at XNUMX%, after the generalized sales of Black Monday which hit the bond market.
