Le European stocks close in the red, heavily influenced by growing concerns about the escalation of the conflict between Russia and Ukraine, although the declines were initially more severe. Milan stands out for the most marked losses: the Ftse Eb is down 1,28%, weighed down mainly by sales in the banking sector, which had recently benefited from a rally fueled by speculation about possible extraordinary operations. The other main European indices are also in the red: Paris loses 0,77%, Frankfurt 0,62%, and Madrid slips by 0,89%. In contrast, London (-0,21%) And Amsterdam (-0,42%) limit the damage, closing with more contained declines. Moscow is also in the red (-3,34%).
The latest news has exacerbated the climate of uncertainty statement by Vladimir Putin, which left open the possibility of resorting to theuse of nuclear weapons in response to a conventional conflict, while the decision to Biden di authorize Ukraine to launch long-range missiles Atacms against Russia further fueled the nervousness. The long wave of these uncertainties involved various sectors, from autos to banks, from technology to industry, pushing investors to take refuge in traditional safe assets. The Japanese yen, the Swiss franc and gold recorded gains. On the contrary, Ukrainian sovereign bonds in dollars recorded the largest losses among emerging markets, confirming the high tension in the region.
READ MORE How the stock market went today: live broadcast on November 19
Inflation stable but growth prospects worrying
On the macroeconomic front, theinflation in the Eurozone is confirmed at 2%, as expected, but optimism for a slowdown in consumer prices is dampened by the forecast of economic stagnation. The Bundesbank has in fact signaled that German GDP is expected to remain flat in the fourth quarter, increasing fears of recession. Growth estimates for the Eurozone have been revised downwards, and markets are now betting on a 25 basis point rate cut by the ECB as early as next month. Meanwhile Bankitalia Governor Panetta ECB urges: “Cut rates”.
Complicating matters further, ECB officials – including Vice President Luis de Guindos and Bundesbank President Joachim Nagel – have warned that new US tariffs could further dampen eurozone growth.
Wall Street subdued as it awaits Nvidia
The tense climate does not even spare Wall Street: Dow Jones loses 0,33%, while the S & P 500 and Nasdaq are trading just above par. Investors' eyes are on the quarterly results, especially on Nvidia, whose stock is up above 3%, despite some signs of technical problems in new Blackwell chips. With more than 93% of U.S. companies already reporting quarterly results, the data shows a majority of earnings are better than expected, but geopolitical uncertainties are clouding sentiment.
Among the stocks that stood out positively, those in the defense sector stand out: Lockheed Martin advances 1,2%, General Dynamics grows by 0,5% and Northrop Grumman marks an increase of 1,6%. In the drone sector, AeroVironment loses 1,3% after announcing the acquisition of BlueHalo in a deal valued at around $4,1 billion, while in the private equity sector Blackstone loses 0,8% despite the acquisition of Jersey Mike's Subs, valued at $8 billion (including debt).
Another stock that stands out for its notable gain is Super Micro Computers, which soars 20%. The company has appointed Bdo USA as its auditor and has presented a plan to the Nasdaq to avoid delisting, news that has piqued investors' interest. Tesla continues in positive territory, after yesterday's rise (+5%), fueled by the news of a new less stringent regulation on self-driving vehicles promoted by Trump. Finally, Trump Media & Technology loses 8%, awaiting news on its deal to buy digital asset platform Bakkt Holdings Inc.
The long series of losses for the Treasury, which had been the subject of massive sell-offs since mid-September, fueled by hopes that Donald Trump's policies would boost growth and revive inflation. The 3,73-year yield now stands at XNUMX%.
This rapid correction in prices has highlighted how fragile the markets still are, ready to react nervously to any new escalation in the conflict between Russia and Ukraine.
Banks collapse in Milan, Leonardo is saved
A Business Square, banking sector leads losses: Banca Popolare di Sondrio slips by 3,91%, followed by Finecobank (-3,63%) And Mediolanum (-3,34%). Bad too Bpm bank (-2,45%), Ps (-3,2%) And Unicredit leaves 2,93% on the ground after the detachment of the interim dividend.
But he wins the black jersey Telecom Italy (-4,02%) while the League's proposal to introduce incentives for energy-intensive telephone companies emerges.
In the automotive sector, Stellantis slips 2,43% following statements by CEO Carlos Tavares regarding the succession process and the need to adapt to Donald Trump's future economic policies.
Enel (-0,96%) continues the decline after the business plan judged cautious by analysts, but receives divergent evaluations: Mediobanca raises the target price to 8,2 euros, while Goldman Sachs lowers it to 9 euros. Amplifon loses ground (-0,89%), while Sonova closes the semester with an EBITDA lower than expected.
Among the few titles that go against the trend, the following stands out: Leonardo (+1,25%), supported by the defensive nature of its business. Also doing well Hera (+ 0,36%) and Inwit (+ 0,26%).
Oil Steady, Gold and Dollar Rise
In the commodity sector, the Petroleum seems to be showing some calm, with prices remaining stable despite the reopening of Europe's largest oil field, which had suffered a power outage. wtf stands at just under 70 dollars a barrel, while the Brent is trading at 72,8 dollars per barrel. The market is more dynamic , which gained 0,8% to $2.635 an ounce, the dollar also strengthened, causing the euro to slide to its lowest level in 12 months, falling to $1,0558 against the greenback. Down 3,2%, the natural gas, with December futures stopping at 45,01 euros per MWh. Despite geopolitical concerns, gas flows from Russia to Austria continue undisturbed, allaying fears of retaliation by Gazprom after its defeat in arbitration with Austrian Omv.
In a context of volatility and uncertainty, the bond markets see a slight correction, with the yield on 3,54-year BTPs falling to 122% and the spread widening to 12,3 basis points. Despite this, Italian government bonds continue to attract foreign investors, with positions increasing by XNUMX billion euros in September.
Bitcoin at its highest, breaks through $92
Finally, the Bitcoin hits new all-time highs, exceeding $92 (+1,22%), fueled by growing interest in digital assets, particularly the imminent launch of options on the iShares Bitcoin Trust fund, scheduled for this week.
