EU stock exchanges in the red, new oil flare-up. Nvidia rises on Wall Street with superchip
The halt in the talks between the USA and Iran sends the stock markets down again. Piazza Affari returned below the symbolic threshold of 50,000 points. Crude oil runs at 5%, gold and cryptocurrencies brake. Euro at 1.16 dollars
by Enrico Miele and Stefania Blasioli
Le ultime da Radiocor
***Borsa: Europa vira al ribasso dopo stop colloqui Usa Iran, Brent vola a +5%
Wall Street: apre in calo (Dj -0,3%) con stop negoziati Usa-Iran, accelera il Wti (+5,5%)
***Iran: stop a colloqui con Usa, pronti a blocco totale Hormuz e altri stretti
(Il Sole 24 Ore Radiocor) - The crisis in the talks between USA and Iran again sends the European stock exchanges into the "red" in a context that remains of great uncertainty over the prospects for a peace agreement to end the conflict in the Middle East. Weighing on the stock markets in the last minutes is above all the halt to the negotiations decided by Teheran after the Israeli attacks in Lebanon. So much so that even Wall Street moved into negative territory. This is while skirmishes between Iran and the US also resumed with a series of mutual attacks last night, while the Pasdaran launched a retaliation against Kuwait. Down was the FTSE MIB below 50,000 points. Also weak were the DAX 40 and the CAC 40.
Wall Street down, Wti crude oil accelerates
Wall Street also fell, as Wti oil accelerated again (+4.6%). The new mutual attacks between the United States and Iran further clouded the prospects for an agreement to end the conflict and pushed up the price of crude oil. Today, the macroeconomic agenda includes the release of the May manufacturing index. Analysts expect the Pmi index to stand at 53, up from 52.7 in April, itself unchanged from March, the highest level since April 2022. This week, investors will focus their attention on the May employment report, due out on Friday: a much-anticipated piece of data, to gain new insights into the health of the labour market and the Federal Reserve's outlook
Defence weak at Piazza Affari, oil sector runs
On Milan's main list, the spotlight was on the oil sector, which benefited from higher oil prices. Saipem is leading the rises. Eyes are also on Unicredit with the public exchange offer on Commerzbank entering its decisive phase with the expiry date set for 16 June. The bank led by Andrea Orcel has already accumulated a significant stake in the German bank, exceeding 35-40% of the capital between direct shares and derivative instruments. In general, it is the entire sector that is under the lens of investors with the various consolidation hypotheses circulating in the sector. In particular, according to press rumours, Banca Monte Paschi Siena is indicated as a possible takeover target for Banco Bpm , Unicredit and Intesa Sanpaolo . Focus was also on the artificial intelligence-related tech sector, with Stmicroelectronics leading the risers, in the wake of SoftBank's decision to invest EUR 75 billion in France to build Europe's largest Ai hub.
Oil rises again, gas also up
Oil prices rose again from their lows of the past two weeks amid uncertainty over the prospects for a peace deal to end the conflict between Iran and the United States. The Brent rallied to above $90 a barrel, while the Wti at $89.87 . Also on the rise was Gas, which advanced more than 4% in Amsterdam to €48 per megawatt hour. As for commodities, gold sold off with the spot contract standing at $4,515 an ounce (-0.48%); conversely, silver rose (+0.59%) to $75.75. On the currency the euro/dollar was little moved in the 1.16 area, as was the euro/yen at 185.82 and the dollar/yen at 159.5.
BTp: spread up to 72 points
The spread between the BTp and Bund rose slightly. The yield spread between the benchmark ten-year BTp and the German Bund of the same duration stood at 72 basis points, up from 71 points at last Friday's close. Also on the rise was the yield on the benchmark ten-year BTp, which marked an early positionat 3.69%, up from 3.64% at the previous benchmark.
