Stock exchanges, Europe weak with fears over AI. Eyes on Middle East and US jobs
Tokyo pushed down by tech stocks as wait for US data rises. On the energy front, oil prices fall
by Martina Soligo and Chiara Di Michele
Le ultime da Radiocor
Borsa: Europa debole in avvio, si raffredda febbre AI, Milano -0,2%
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Evoke: accetta offerta di Bally's Intralot da 243,1 milioni di sterline
(Il Sole 24 Ore Radiocor) - The European stocks moved weak in the final session of the week as the market weighed concerns over the resilience of the artificial intelligence sector. Fears that pushed Asian stock markets down, while on the eve of the session the Nasdaq, the only index down on Wall Street at -0.53%, was weighed down by the sell-off in the semiconductor sector, led by Broadcom (-12.6% on Thursday). Conversely, the Dow Jones hit a new intraday high, with investors rotating away from technology stocks in favour of old economy-related stocks such as banks, pharma and large retailers.
The market continues to monitor the situation in the Middle East, with Hezbollah rejecting a ceasefire in Lebanon and US President Donald Trump declaring that the US will win in the conflict with Iran, 'one way or another, whether on paper or militarily'. On the macroeconomic front, US jobs data - due out in the early afternoon - are awaited, crucial to guessing the Fed's next rate moves in light of inflation concerns. "If job creation slows down, the idea that the fight against inflation is close to an end will prevail; if, on the other hand, growth continues, the positive reading of full employment will prevail," comments Angelo Meda, head of equities at Banor.
Against this backdrop, the main indices of the Old Continent move cautiously: the FTSE MIB MIB of Milan, theCAC 40 of Paris, the DAX 40 of Frankfurt, the IBEX 35 of Madrid, the AEX of Amsterdam.
At Milan St in queue, down also Diasorin after eve rally
On the Italian Stock Exchange, selling continued on Stmicroelectronics and Prysmian, in the wake of the sell-off on tech stocks. Also down was Diasorin after an eve rally that saw the stock gain more than 7 percentage points. Among the best performers were Inwit , Nexi and Amplifon . Purchases were also made on utilities (Terna , Italgas and A2a ). On the banking front, wellBanca Monte Paschi Siena that benefits from Equita's promotion (rating rises to 'Buy' and target price to €11.8) while the work for the merger with Mediobanca is proceeding. At a time when signals about the start of a second phase of banking consolidation are intensifying, the sim believes that an Mps transaction with Banco Bpm "would make industrial sense".
Euro/dollar little moved, oil weakens
On the energy front, the price of oil hovered around parity with the Brent future below USD 95 per barrel and the Wti in the USD 92 area. Gas rose slightly in Amsterdam. On the currency side, the euro/dollar remained just above 1.16 and the euro/yen at 186, while the dollar/yen ratio was in the 160 area. Bitcoin is still falling below $62,000 with a loss of more than two percentage points.
