Stock exchanges advance amid new Dow Jones record and Broadcom collapse. Milan +0.3%
Crude oil retraced. In equities, tech slipped after Wall Street giant's disappointing outlook. In Europe, Remy Cointreau is flying with its relaunch plan and Campari is pushing.
by Martina Soligo and Stefania Blasioli
Le ultime da Radiocor
*** BTp: spread chiude in rialzo a 75 punti, rendimento decennale sale a 3,77%
Borsa: Europa avanza tra nuovo record Dow Jones e crollo Broadcom, Milano +0,3%
*** Energia: Giorgetti, misure sostegno possono anche sostenere crescita
(Il Sole 24 Ore Radiocor) - The European stocks closed on a positive note in a highly volatile session in which investors had to deal on the one hand with yet another Wall Street record, and on the other with the sell-off in the tech sector triggered by the thud of Broadcom . In Piazza Affari, the FTSE MIB of Milan ended at +0.27% after changing direction several times, but Stmicroelectronics closes as the tail end after the US chipmaker rekindled doubts about a possible excessive enthusiasm around artificial intelligence-related stocks.
Meanwhile, oil retraced as investors assessed the evolving situation in the Middle East, between fears of a resumption of hostilities in Iran and the ceasefire agreement between Israel and Lebanon. The US president, Donald Trump, continues to say he is optimistic and said the peace talks could be concluded "by the weekend", answering journalists' questions in the Oval Office. In a resolution more symbolic than concrete, the US House of Representatives ordered a withdrawal from the war in Iran, a request that Trump can veto.
On Wall Street new record for Dow Jones, Nasdaq weighed down by Broadcom's decline
Indexes on Wall Street were trading at different speeds, with the NASDAQ weighed down by selling on Broadcom after the quarterly report and on other stocks in the sector. Offsetting the drop in tech, however, was a new intraday high Dow Jones at over 51,550 points. Meanwhile, the market continues to monitor the macro data on the labour market. After the Adp report (better than expected), the number of workers claiming unemployment benefits for the first time increased to 225,000 against expectations for a figure of 215,000.
Remy Cointreau flies and pulls Campari. Milan held back by Prysmian and St
On European equities, Remy Cointreau flies after CEO Franck Marilly announced his relaunch plan with ambitious targets. In Milan, Campari followed the rise. Abrupt slide in Amsterdam for Universal Music Group after rumours that Pershing Square intends to sell its remaining stake in the music group. A few days ago, Universal rejected the non-binding proposal submitted by Pershing Square.
Among the main Milanese stocks, well-bought Buzzi and UniCredit . On the other hand, oil stocks were weak, following the decline in crude oil prices: down were Eni and Tenaris . Heavy Stmicroelectronics, which weighed down the list and retreated from all-time highs after a disappointing outlook from Broadcomm cooled the AI-related rally, also heavy Prysmian .
