The price of oil is rising again, as is the tension on government bonds and Stock markets are moving in mixed fashion, concerned about what is happening in the Middle East after the American president, Donald Trump, rejected Tehran's truce proposal. However, recent macroeconomic data confirming the resilience of the global economy, thanks in particular to investments in artificial intelligence, have helped to calm concerns somewhat, suggesting a new round of strong corporate results.
Oil is starting to flow again
Oil prices are rising again following Trump's "no" vote and Iran's response, announcing it will not soften the conditions for reopening the Strait of Hormuz. Operators are thus once again seeing their hopes for a quick return to normal traffic through the Strait dashed. A reduction in production in Norway of 5 million cubic meters per day due to plant maintenance is also weighing on the situation.
In this context the price of the Brent rises above 108 dollars a barrel (+3,5%), while the November futures wtf Texas moves above $95, up 3,4%. The dollar rises 2,4%. natural gas, which on the Amsterdam TTF platform stands at 73,8 euros per megawatt hour.
On the other hand, the prices of precious metals are falling sharply: spot gold moves to $4.155 an ounce, down more than 3%. Sinks silver (-4,7%), which falls to 61,7 dollars. The dollar at almost 1,14 against the euro, while weakening to 1,33 against the pound.
Yields are also rising
Government bond yields are also rising. At mid-session, the yield spread between the benchmark 10-year BTP and the German bond of the same duration stands at 94 basis points, up two points from the previous benchmark. The yield on the XNUMX-year BTP benchmark compared to 3,63% (+0,6%) of the Waist German. The Oat 10 French voters moved to 4,74% (+0,97%) in the aftermath of the Senate elections in which the right retained its majority, while the far-right parties Rassemblement National and Union des droites pour la République obtained enough seats to form a parliamentary group in the upper house for the first time.
Stock markets react cautiously
Caution prevails in stocks. Milan marks +0,13% at 51.935 points, Paris is at par (+0,02%), Amsterdam salt of 0,2% and London of 0,3%. Slightly decreasing Frankfurt (-0,12%). US stock market futures are negative.
Amplifon and Eni are running high in Milan, while Tim is in the red.
It is in Piazza Affari Amplifon The pink jersey (+5,8%) as analysts begin to position themselves ahead of the publication of the third quarter results, "We expect solid organic growth and significant margin expansion," commented Equita, awaiting the announcement of the results on October 29th. A sharp rise Stellantis (+2,4%), followed by oil companies. Eni gains 1,76% on the back of rising oil prices and as the company comes under scrutiny for its fuel price cap, Saipem instead marks an increase of 1,75%.
At the bottom of the Ftse Mib there is Telecom Italy (-1,4%) after the conclusion of the takeover bid Poste Italiane (+0,08%). The offer concluded with subscriptions representing 65,72% of the capital, which, added to the stake already held, brings the total stake to 85,82%. Poste therefore fell short of the 90% threshold that would have triggered the squeeze-out, which allows a shareholder who reaches a high capital threshold to forcibly purchase the remaining shares of minority shareholders and proceed with a rapid delisting. The focus, Intermonte analysts emphasize, is now on executing the synergy plan:
Down too Inwit (-1%), and defense stocks: Avio (-0,86%) And Fincantieri (-0,8%), banks also below par.
Outside the Ftse Mib, Trevi it goes up 3,7% after the relaunch of the Icop takeover bid, while Danieli drops 12,8% following the publication of the financial data.
