Stock market: Europe rises, with tech stocks leading the way. Technoprobe surges in Milan
Banks remain under close scrutiny. Oil prices rise, whilst the euro remains below 1.12 dollars. The spread narrows to 104 points, with the 10-year yield at 4.34 per cent
Le ultime da Radiocor
Borsa: il tech non basta a Milano, Ftse Mib sulla parita' con banche deboli
Industria: Istat, produzione +1,2% a settembre, -0,1% su anno (RCO)
***Energia: Giorgetti, letto parole Federacciai, si creino regole piu' ferree
(Il Sole 24 Ore Radiocor) - A positive session for the European financial markets, with tech shares benefiting from CoreWeave’s results, which are driving up Nasdaq futures and Asian markets, fuelling optimism about AI. The cloud computing firm jumped 8% in after-hours trading, after outlining a path to profitability in the first half of 2028 and following a surge in revenue of nearly 170%. Consequently, the FTSE MIB in Milan is up but below its early-session highs, despite the rally in tech stocks. Meanwhile, the CAC 40 in Paris is performing well, as is the DAX 40 in Frankfurt, with all eyes on the final October inflation figures, which stood at -0.2 per cent month-on-month and +2.8 per cent year-on-year, the IBEX 35 in Madrid, the AEX in Amsterdam and the FTSE 100 in London.
There is also keen interest in the Anthropic roadshow, as the company prepares to make its debut on Wall Street with a valuation of up to 1,400 billion dollars. However, yesterday’s US inflation figures have dampened enthusiasm: a 0.4 per cent rise in October, which the market had not anticipated, has reinforced expectations of a rate hike in December, fuelling speculation of a possible 50 basis point increase.
Banks in the spotlight: tech stocks surge with Technoprobe
On the Milan Stock Exchange, technology shares are soaring, with Technoprobe , Stmicroelectronics and Prysmian at the top. The spotlight is back on AI, a topic on which Technoprobe’s CEO, Stefano Felici, had previously commented: in an interview with Radiocor he had said that the group is solid and ready to face the challenges of AI, including a possible bursting of the bubble. Banks are in the spotlight after the Italian Banking Association (ABI) came out against the measures in the Budget Law, threatening legal action. The total cost to the sector is estimated at around 22 billion euros in 2027, although the impact on profits could be less than that figure. Meanwhile, attention is turning to Credit Agricole’s move regarding Banco Bpm . Watch this space Telecom Italia following its quarterly results and the confirmation of its full-year guidance. Revenues up 7.5% in the first nine months for Recordati Ord , with the takeover bid by CVC and GGL closing with 91.93 per cent of shares tendered.
Euro falls below 1.12 dollars, oil prices rebound
Hawkish comments from several Fed members did the rest, pushing Treasury yields higher. Against this backdrop, the dollar strengthened (euro at 1.1156), whilst oil prices rebounded, with Brent now trading at $92 per barrel (+0.6 per cent).
Spread falls to 104 points, 10-year yield at 4.34%
The spread between BTp and Bund bonds has edged down slightly. The yield spread between the benchmark 10-year BTp and its German counterpart stands at 104 basis points, down from 105 basis points at the previous close. The yield on the benchmark 10-year BTp has also fallen, standing at 4.34 per cent, down from 4.36 per cent the previous day.
