Stock markets: Europe rebounds, driven by the tech sector. Banks rise in Milan

(Il Sole 24 Ore Radiocor) - European stock markets are consolidating their gains in the first trading session of the week, against a backdrop of falling oil prices and bond yields, partly thanks to a boost from the tech sector. Government bond yield levels continue to cause concern, although, as we mentioned, the fever surrounding government bond yields has cooled slightly. According to the Financial Times, the major US investment banks estimate that the United States could raise around 1,000 billion dollars through new short-term debt over the coming year, increasing its reliance on 12-month Treasury bills. Furthermore, there are fears that inflation will continue to rise, driven by high energy prices. Oil, however, continues to ease, with Brent trading around $101. This week, the spotlight will also be on the meeting between US President Donald Trump and his Chinese counterpart, Xi Jinping, scheduled to take place in Washington on Thursday. All eyes will also be on the UN General Assembly, during which Trump will meet with the leaders of the Gulf states.

Thus, the FTSE MIB in Milan is trading higher, despite being affected by a fractional 0.07% following the coupon payments by Eni and St. It is also in positive territory for the CAC 40 in Paris and the DAX 40 in Frankfurt; the latter despite the results of the regional elections, which saw another defeat for the CDU, the party of Chancellor Merz, who has branded the results ‘a disaster’ but has no intention of stepping down.

Futures point to a higher opening on Wall Street, again driven by falling oil prices and Treasury yields. Last week, the Dow Jones fell by 1.7%, recording its worst performance since March; the S&P 500 fell by around 0.1%. Only the tech-heavy Nasdaq closed in positive territory, up 0.7%. Analysts at JPMorgan noted that oil flows ‘remain surprisingly strong’, despite recent disruptions, thereby fuelling the fall in crude oil prices. In any case, “prolonged high energy prices reinforce the need for further monetary tightening”, wrote Ed Yardeni, chairman of Yardeni Research. On the equity front,

The intensive eight-hour talks in New York between US Treasury Secretary Scott Bessent and Chinese Deputy Prime Minister He Lifeng have concluded with a ‘very positive’ outcome. The marathon summit, hosted the day before at JPMorgan Chase’s headquarters, laid the operational groundwork ahead of the crucial summit scheduled for Thursday in Washington between US President Donald Trump and Chinese leader Xi Jinping. The visit was confirmed by Beijing itself in an official statement. “We have just concluded a highly successful meeting with the Chinese,” said Bessent. “We discussed the creation of a mutual notification mechanism for security incidents and threats. It will be called the ‘US-China AI Dialogue’ and we have agreed to meet again,” explained the Treasury Secretary.

On the Milan Stock Exchange, tech shares are in the spotlight, with Stmicroelectronics among the market’s top performers. Banks are also performing well, buoyed by the figures released by the French bank Societe Generale on the day of the presentation of its 2029 plan. Leading the gains on the Milan stock exchange was Banco Bpm – also buoyed by rumours that Unicredit and Credit Agricole are reportedly in the early stages of discussions to explore a joint venture in Piazza Meda. A solid debut for Technoprobe on its first day of trading on the main Milanese index, replacing Diasorin. Selling pressure on oil stocks as oil prices fall: Eni slips to the bottom of the market.