China's AI competition is shaking up Wall Street (Nasdaq -3,2%), after penalising today the European stock exchanges that close mixed. The feared bubble linked to the sector of the future has in fact begun to dangerously float in the financial skies.
The news that has shaken the markets since dawn is that the Chinese start up DeepSeek is beating American competitors by developing a model of Artificial Intelligence lower costs and better performance. So, after the large bet made by the market on the US-branded tech revolution, now the I doubt that the Dragon can do better and investors, fleeing from stocks like Nvidia (-16%), Qualcomm, Intel, are rapidly swerving towards the T Bond, which today see sharply rising prices and falling rates.
All this at the start of a very intense week from a macro perspective, with Fed and ECB which will hold their monetary policy meetings. The Fed will announce its decisions on Wednesday and the market expects a pause in rate cuts, but also some indication of the future. The ECB is expected to proceed with further easing, lowering interest rates by a quarter of a point.
Europe contrasted, Milan doing well with utilities and Generali
In this context Business Square closed just below parity (-0,03%) after having held out in positive territory for most of the session, also thanks to the scarcity of technology stocks in the list. Giving verve to trading were purchases of shares considered defensive such as those of utilities and Telecom (+1,22%). Among the best blue chips there is also General, +1,92%, while waiting for the Lion to present the new strategic plan for 2027 next Thursday. HSBC has cut the rating on the stock to 'hold' from 'buy', but also raised the target price to 30,5 euros from 30. Furthermore, the insurance giant is part of the intricate financial game that is being played in the banking sector after the takeover bid launched by Ps (-2%) on Mediobanca (+ 0,18%).
In the rest of Europe they are falling behind Amsterdam -0,72% and Frankfurt -0,45%, while they are colorless Paris e London.
Dollar and oil down
The session appears slightly adverse to the dollar, which is weakening today against major currencies, although it isagainst Colombia with tariffs He returned after the South American country gave up on the idea of accepting US military planes carrying deported migrants.
THEeuro changes above 1,05 with an increase of 0,25%, but the greenback loses more sharply ground against the yen (-0,94%), for an exchange rate of 154,27.
Sales also hit raw materials, starting from Petroleum, which sees Brent and WTI futures down more than one percentage point. North Sea crude, for April delivery, is trading at $76,44 a barrel; Texas crude, for March, is at $73,44 a barrel.
After having approached its highs in recent days, thegold. Spot gold is in fact down around 1%, to a price of 2742,27 dollars per ounce.
Among cryptocurrencies, the one hundred thousand mark is lost bitcoin, just after Trump on Friday created the long-awaited working group to advise the White House on digital currency strategy.
Piazza Affari in the wake of Hera
The main stock market index of Piazza Affari stands out today Hera, +3,79% and among the utilities there is also a clear increase Enel + 1,17% Italgas + 1,17, Snam + 1,11%.
They are also appreciated Inwit +1,92% and Stellantis +1,47%, while the losses page opens with Prysmian, -8,75%, subject to realizations after having touched the historical highs last Friday. In addition, Morgan Stanley has decided to cut the target price to 64 from 65 euros per share.
The haemorrhage on MPS continues, after the Mediobanca gamble, which no one knows how it will endThe Piazzetta Cuccia board of directors is expected to meet tomorrow and is expected to consider the offer hostile.
Equita has raised the target price of Mediobanca to 18,6 euros and judges "the project is innovative and ambitious", but continues "to have doubts about the integration of two entities with very different business models and corporate cultures and on the ability to generate synergies effectively".
Between banks Bper loses 1,21%. Profit taking also penalizes Buzzi -1,61% and Interpump -1,19%. Bad, with the losses in crude oil, Saipem -1,24%.
Spread slightly up
The closing is in the red on the secondary market: the spread between the Italian and German ten-year bonds is at 112 basis points, even if the rates are slightly down to 3,63% and 2,5%.
