EU stock exchanges pay the price for uncertainties over AI and Opec, Milan saves itself (+0.8%) with the banking risk
Wall Street closes lower, DJ -0.06%, Nasdaq -0.90%
Key points
Le ultime da Radiocor
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(Il Sole 24 Ore Radiocor) - A volatile session for the European stock markets, which closed in mixed order, with Milan's Ftse Mib holding up and closing at +0.77%, regaining the 48,000-point threshold thanks to the banks' push. Fears about the resilience of the AI sector returned to the markets after the Wall Street Journal reported that OpenAI missed its targets in terms of new users and turnover. A result that brings back doubts about the ability of the company led by Sam Altman, but more generally of companies in the sector, to sustain the huge expenses for data centres. Attention also remains focused on developments in the Middle East conflict, with a new proposed agreement between the US and Iran reportedly under consideration by the White House.
Meanwhile, fears of prolonged energy supply disruptions supported oil prices, with Brent up 2.5% to $110.95 per barrel and Wti up 3.5% to $99.72. Then came the surprise news during the day that the United Arab Emirates will leave the Opec and the Opec+ alliance as of 1 May, probably due to internal disagreements related to the emirates' desire to increase crude oil production. against this backdrop, major European indices closed in the red except for FTSE MIB of Milan, IBEX 35 in Madrid and London's FTSE 100. Weaker theCAC 40 in Paris, the DAX 40 in Frankfurt and the AEX in Amsterdam.
Wall Street closes down, DJ -0.06%, Nasdaq -0.90%
Wall Street closed negative. The Dow Jones lost 0.06 per cent to 49,136.45 points, the Nasdaq gave up 0.90 per cent to 24,663.80 points, and the S&P 500 dropped 0.49 per cent to 7,138.83 points. Yesterday, the S&P 500 and Nasdaq recorded new highs. Tomorrow, a crucial two days for the stock market will begin, with five of the 'Magnificent Seven' technology giants releasing quarterly results: Alphabet, Amazon, Meta Platforms and Microsoft will publish their results tomorrow, while Apple will do so on Thursday. In addition, the last meeting of the Fomc, the monetary policy arm of the Fed, of Chairman Jerome Powell is scheduled: nobody doubts, however, that rates will remain unchanged at 3.50%-3.75%.
Eni runs in Piazza Affari, banks top thanks to risiko
On the Milanese stock exchange, the end-of-session balance sheet sees Eni taking advantage of the rise in crude oil prices and closing among the best (good also Tenaris and Saipem). Purchases above all on banks with the eyes still focused on the risiko of the sector, after the green light from the shareholders of Delfin to the reorganisation that will lead Leonardo Maria Del Vecchio to become the first shareholder with 37.5 per cent of the family safe, at the head of the Essilorluxottica and of major stakes in Banca Monte Paschi Siena and Generali, as well as in Unicredit. Also at the centre of purchases were Bper Banca and Intesa Sanpaolo. On the other hand, Diasorin closed in the red after the profit warning from competitor Qiagen, Fincantieri in the defence sector, the luxury of Moncler and Lottomatica Group.
Euro in the $1.17 area, oil still running
On the currency market, euro/dollar at 1.1711 (from 1.1733 yesterday). The single currency is also worth 186.8 yen (same as yesterday) and the dollar/yen is at 159.5 (from 159.2). Down 2.2 per cent was gold at $4,576 an ounce, down 2.9 per cent was gas in Amsterdam at €43.3 a megawatt hour.
