Stock exchange, Europe volatile with sparks of war. In Milan, St
Asia closes in the red. Oil prices rise again
Le ultime da Radiocor
Borsa: scintille di guerra in Iran, future deboli con il petrolio in rialzo
*** Iran: nuovi attacchi Usa, abbattuti droni iraniani
### Morning note: l'agenda di giovedi' 28 maggio
(Il Sole 24 Ore Radiocor) News of the crossfire between the US and Iran has once again encouraged investors to adopt a more cautious attitude and so European stock exchanges are volatile, while the price of crude oil has risen again. In particular, it emerged overnight that new attacks were carried out by the US military on Iran, targeting a military site that officials said posed a threat to US forces and commercial maritime traffic in the Strait of Hormuz. The news has caused alarm especially because of fears that it could make the already extremely difficult road to the signing of an agreement for peace in the Middle East an uphill one. Moreover, the Pasdaran, or Guardians of the Revolution, promptly responded by attacking Kuwait. This while the Israeli army continues to strike Lebanon: it has been announced that infrastructures belonging to Hezbollah in Tyre, South Lebanon, have been demolished.
Asian stock exchanges are in the red, with Tokyo losing half a percentage point. American futures, although not very indicative at this hour, foretell a weak start for the US market. In Milan, the Ftse MIb gave up a fractional 0.1 per cent, moving below the 50,000 point threshold. The rally inStmicroelectronics.
In addition to the war front, all eyes are on the economy today: key data on the US Pce, the Fed's measure of consumer spending inflation, is on the calendar and is expected to rise from 3.5 per cent to 3.8 per cent. Also expected is US GDP, seen by analysts as recovering to 2 per cent from 0.5 per cent, "a recovery certainly accompanied by the structural rise in inflation due to higher oil prices," says David Pascucci of Xtb.
On the equities front, oil stocks, up and down with the price of crude oil, and cars, after recovering on the eve of the event, should always be followed. Also slow on Brunelli Cucinelli and luxury stocks, which are being closely watched in light of consumer forecasts. Ferrari should be followed, after Tuesday's sharp slide with the presentation of Ferrari Luce and the failed bounce on the eve. Purchases on the dollar returned, pushing the euro back to the 1.16 area, while sales hit gold, with the spot contract down 1.7% to $4,380 an ounce.
Asia-Pacific stock markets were in the red. Tokyo fell 0.65%, Hong Kong 1.42%, Seoul 0.5% and Sydney 1.45%. On the other hand, the Chinese stock markets held up, with Shanghai marginally at +0.15% and Shenzhen at +0.7%.
