The Anthropic effect isn’t enough; European stock markets are weak. Ferretti is struggling in Milan
Attention is now turning to the Fed and the ECB, and to the quarterly results of US Big Tech firms. Oil prices are rising, with all eyes on the elections in Israel. Asia is performing well, buoyed by the tech sector
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(Il Sole 24 Ore Radiocor) - The the Anthropic effect on European stock markets, which are trading weakly in the second session of the week, whilst attention is gradually shifting towards central banksand the quarterly results of US Big Tech firms. In Milan, the FTSE MIB is attempting to hold the 49,000-point mark, whilst Paris is also down (CAC 40 ) on the day of the vote on the budget bill and against a backdrop of stagnation in bond yields. Frankfurt (DAX 40 ) and Madrid (IBEX 35 ) were also weak.
The Old Continent is therefore not keeping pace with the strong performance of the Asian stock markets, which have instead risen, buoyed by tech companies, following in the wake of Wall Street’s rebound. On the eve of trading, buying was fuelled by renewed optimism for the artificial intelligence sector following the Nasdaq listing application by the American giant behind Claude. The company led by Dario Amoderi is preparing for what could be one of the largest IPOs on the US stock market, with a target of $100 billion and a valuation of between $1,500 and $2,000. Attention will now turn to Alphabet and Microsoft’s quarterly results (on Wednesday), followed on Thursday by Amazon and Intel, which will provide a more complete picture of whether the technology sector can recover from its recent weakness.
On the international geopolitical front, the Brazilian stock market is also worth keeping an eye on following yesterday’s sharp fall, triggered by Lula’s victory in the presidential elections. In the Middle East, all eyes are on the parliamentary elections in Israel, regarded as a referendum on Prime Minister Benjamin Netanyahu.
All this comes on the eve of the announcement by the Federal Reserve and the ECB, with most market participants expecting interest rates to remain unchanged.
Tech shares perform well in Milan, whilst banks struggle. Stellantis brings up the rear
On the Milan Stock Exchange, utilities are holding their ground whilst tech shares are on the rise: on the podium Italgas , Snam and Stmicroelectronics . Bringing up the rear are Stellantis , with banks performing poorly, whilst the government is finalising the 2027 Budget Bill, which could lead to an increase in the tax burden on the sector. All eyes are also on the risk game: Banco Bpm may decide not to attend the general meeting of Banca Monte Paschi Siena general meeting, which is set to vote on the dual takeover bid launched by CEO Lovaglio. Meanwhile, Unipol has successfully completed the capital increase to fund the acquisition of the Siena branches, should the transaction involving Intesa Sanpaolo .
