Stock markets rebound as crude oil falls to $100. Tech and banking sectors lead the way in Milan

(Il Sole 24 Ore Radiocor) - Gains are consolidating on European stock markets are consolidating their gains in the first trading session of the week, against a backdrop of falling oil prices and bond yields, thanks in part to the boost from the tech sector. Yields on government bonds continue to cause concern, although, as we mentioned, the fever surrounding government bond yields has cooled slightly. According to the Financial Times, the major US investment banks estimate that the United States could raise around 1,000 billion dollars through new short-term debt over the coming year, increasing its reliance on 12-month Treasury bills. Furthermore, there are fears that inflation will continue to rise, driven by high energy prices. Oil, however, continues its downward trend, with Brent hovering around the $100 mark. This week, the spotlight will also be on the meeting between 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.

Thus, the FTSE MIB in Milan is trading higher, although it has been affected by a fractional 0.07% following the coupon payments by Eni and St. The CAC 40 in Paris and the DAX 40 in Frankfurt, despite the results of the regional elections, which saw another defeat for the CDU, Chancellor Merz’s party. Merz described the results as ‘a disaster’, but has no intention of stepping down.

Stock indices on Wall Street were on the rise, again thanks to the fall in oil prices and Treasury yields. Last week, the Dow Jones fell by 1.7%, recording its worst performance since March; the S&P 500 fell by around 0.1 per cent. Only the tech-heavy Nasdaq closed higher, up 0.7 per cent. Analysts at JPMorgan recently noted that oil flows ‘remain surprisingly strong’, despite the latest disruptions, thereby contributing to the fall in crude oil prices. In the equity market, technology stocks stood out, including Intel. Strong Strategy, buoyed by bitcoin’s latest rally to $85,000, as it is one of its largest holders. Warner Bros Discovery is gaining ground after the Wall Street Journal reported at the weekend that Paramount and the California Attorney General had discussed the details of a settlement regarding the lawsuit blocking the merger between the two media giants.

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 the day before 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.

On the Milan Stock Exchange, tech shares are in the spotlight, with STMicroelectronics among the top performers on the market. Banks are also performing well, buoyed by the figures released by the French bank Societe Generale on the day it unveiled its plan for 2029. Leading the gains on the Milan stock exchange was Banco Bpm was also driven 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 some oil stocks as oil prices fall: Eni slips to the bottom of the list.