EU stock exchanges positive on new hopes for US-Iran agreement. St. Louis flies in Milan

(Il Sole 24 Ore Radiocor) Hopes of an imminent agreement between the US and Iran to end the conflict in the Middle East and reopen the Strait of Hormuz are sustaining the European stock markets, which had instead braked sharply yesterday on the news that the Iranian Supreme Guide, Mojtaba Khamenei, had issued a directive to keep enriched uranium inside the country, a move that seemed to cast doubt on the negotiations between Tehran and Washington. However, tempers were calmed after US President Donald Trump declared that the negotiations were in the 'final stages'. Iran's Foreign Ministry spokesman, Esmaeil Baqaei, also confirmed that the talks are still ongoing, thanks in part to the mediation of Pakistan, and concern the cessation of hostilities 'on all fronts, including Lebanon'. In the meantime, however, the Strait of Hormuz continues to remain closed, pushing investors to caution, so that the European stock markets have a plus sign, but register limited rises of around half a percentage point. The Ftse Mib also rose 0.57 per cent, remaining well below the 50,000-point mark. In addition the price of oil resumed its rally: Brent crude rose 2.55% to 105.2 dollars a barrel, while Wti advanced 1.98% to 98.26 dollars. Government bond rates limited slightly, although they remained at high levels: the rate on the ten-year Bund remained above 3% and that on the Btp at 3.8%. After all, investors fear that the world's central banks will eventually raise the level of interest rates, so as to cool down inflation, which is continuing to rise, as shown by the latest data. However, this is a price index driven more by the rise in the value of energy caused by the war in the Middle East.

On the Italian Stock Exchange Stmicroelectronics sprung to the top of the list on the back of Asian tech performances. Stocks reboundedStellantis , after slipping on the day before CEO Antonio Filosa unveiled his EUR 60 billion business plan. Also continuing to be well bought were Prysmian. Recordati Ord opened higher and then reversed course on the day the takeover bid launched on the company and aimed at delisting it was made official. As already announced in March, Cvc and Gbl launched a full takeover bid at EUR 51.29 per share, putting a total of EUR 10.7 billion on the table. Even Amplifon , which had opened up almost 3%, went down after the takeover of 45.3 million new shares issued in the capital increase. Oil stocks were weak.

Asian stock markets rallied for the second consecutive day, heading for a weekly rise, as investors turned to a broader range of companies related to the development of artificial intelligence. The MSCI Asian stock index rose 0.7 per cent. Japan's Nikkei led regional gains with a 2.3 per cent jump. SoftBank Group Corp. soared more than 11 per cent in Tokyo on the back of rises in the US-listed shares of its chip-making unit Arm Holdings Plc. Lenovo Group Ltd. hit a 26-year high in Hong Kong after reporting strong growth in artificial intelligence-related earnings.