Stock markets: Europe rebounds, driven by tech. Banks rise in Milan
Whilst attention remains firmly on bonds, oil prices continue to fall, with Brent at $100. Focus on the US-China summit: on Thursday, Chinese leader Xi will be at the White House
Key points
Le ultime da Radiocor
Sanita': Giorgetti, federalismo e sussidiarieta' separati non reggono (RCO)
Debito: Giorgetti, se si perde controllo, Paese non sceglie piu' ma subisce
Ducati: Urso, pronti a usare tutti strumenti a disposizione per tutela
(Il Sole 24 Ore Radiocor)- European stock markets are consolidating their gains at midday, buoyed by the tech sector, which is performing strongly across the continent. Meanwhile, government bond yields continue to cause concern, even though the fever surrounding government bond yields is cooling slightly. The German 10-year bond yield has fallen to 3.48 per cent, the BTP to 4.36 per cent, and the US Treasury yield is holding steady at around 4.96 per cent. Moreover, there are fears that inflation will continue to rise, with energy prices soaring. The price of oil, however, continues to ease, with Brent hovering around the $100 mark. Meanwhile, the Financial Times has summarised the forecasts of the leading US investment banks regarding US debt: according to experts, the United States could raise around $1,000 billion through new short-term debt over the coming year, further increasing its reliance on Treasury bills – securities maturing within 12 months. Consequently, the FTSE MIB in Milan is trading higher, despite being weighed down by a fractional 0.07 per cent following the coupon payments by Eni and St. the CAC 40 in Paris and the DAX 40 in Frankfurt; the latter despite the results of the regional elections, which saw a clear defeat for the CDU, the party of Chancellor Merz, who has branded the results “a disaster” but has no intention of stepping down. Across the Atlantic, too, a positive start is on the cards, with Wall Street futures trading well up.
Meanwhile, this week the spotlight will also be on the meeting between the US President, Donald Trump, and his Chinese counterpart, Xi Jinping, scheduled to take place in Washington on Thursday. All eyes will also be on the UN General Assembly, during which Trump will meet with the leaders of the Gulf states.
Bessent: US-China talks very positive. Focus on AI
The intensive eight-hour talks in New York between US Treasury Secretary Scott Bessent and Chinese Deputy Prime Minister He Lifeng have concluded with a ‘very positive’ outcome. The marathon summit, hosted at JPMorgan Chase’s headquarters, laid the operational groundwork ahead of the crucial summit scheduled for Thursday in Washington between US President Donald Trump and Chinese leader Xi Jinping. The visit was confirmed by Beijing itself in an official statement.
“We have just concluded a highly successful meeting with the Chinese,” said Bessent. “We discussed the creation of a mutual notification mechanism for security incidents and threats. It will be called the ‘US-China Dialogue on AI’ and we have agreed to meet again,” explained the Treasury Secretary, emphasising the shared commitment to defining common objectives and challenges regarding artificial intelligence.
Tech and banking in the spotlight on the Milan Stock Exchange
On the Milan Stock Exchange, tech shares are in the spotlight, with Stmicroelectronics among the top performers on the market. Banks are performing well, buoyed by the figures released by the French bank Societe Generale on the day its 2029 plan was unveiled. Leading the gains on the Milan stock exchange was Banco Bpm, also buoyed by rumours that Unicredit and Credit Agricole are reportedly in the early stages of talks to explore a joint move on Piazza Meda. A solid debut for Technoprobe on its first day of trading on the main Milanese index, replacing Diasorin . Selling pressure on oil stocks as oil prices fall: Eni slips to the bottom of the list.
