Stock exchanges, fog over US-Iran negotiations slows down stock markets. In Milan (-0.7%) Recordati rallies. WS -1%
The US president in a series of statements speaks of 'war over' and at the same time says he does not know if he wants a deal with Iran. Brent crude moves above $108 a barrel on new supply concerns. Pharmaceutical company shares on shields after news of Cvc's upcoming takeover bid
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(Il Sole 24 Ore Radiocor) - The uncertainty surrounding the fate of the US-Iran conflict is once again weighing on European stock markets, which see no glimmer of a possible truce anytime soon. Almost a month after the start of the war in the Middle East, in fact, fears over global energy supplies remain intact due to the stop at the Strait of Hormuz, as witnessed by Brent crude above $108 a barrel (+5.9%).
Between Washington's conditions and Tehran's counter-proposals, 'an agreement by the end of the weekend, the deadline for Trump's ultimatum, seems unlikely, so much so that the attacks continue', analysts predict. Nor do the words of the tycoon help, who, disappointed by NATO, first warned the Iranian negotiators ("they would do well to behave seriously before it is too late") and then added that he was not convinced he wanted an agreement, without excluding control over Tehran's oil: "It is an option". Positions only partially dampened by his special envoy Steve Witkoff who reports "positive signs" that Iran wants an understanding.
"Given the premises, an agreement by the weekend, the deadline for Trump's ultimatum, seems unlikely, so much so that the attacks continue and sentiment among traders appears negative once again," note analysts at Mps. The US website Axios wrote that the Pentagon is reportedly defining military options for a "final blow" to Iran that could include the use of ground forces and a massive bombing campaign.
Meanwhile, the effects of the war on the economy are beginning to be measured: the Ocse warned that the conflict in the Gulf puts a strain on the resilience of the global economy, but at the same time it raised its growth estimates for US GDP to 2% from 1.7% in December. However, it also raised its forecast for US inflation, which is expected to rise to 4.2% this year (from 3% estimated in December and +2.1% in 2025). The latter outlook is pushing up Treasury rates, along with Trump's latest threats.
Wall Street down sharply: -1%. Trump returns to threaten Iran
Indices also fell on Wall Street, weighed down by the rise in oil prices, with traders following the latest developments from the Middle East. The Dow Jones closed down 1.01% at 45,959.43 points. The S&P 500 lost 1.72% to 6,478.41 points while the Nasdaq lost 2.38% to 21,408.08 points.
