EU stock exchanges hang on US-Iran negotiations, in Milan (-1.3%) coupon detachment

(Il Sole 24 Ore Radiocor) - A red start to the week for the European stock markets, which remain hung up on the uncertainty of the talks between the United States and Iran and the chaos in the Strait of Hormuz, which remains closed and pushes up the price of oil. All this as the expiry of the truce between Tehran and Washington approaches. Tensions in the Middle East  have indeed been rekindled after the USA seized an Iranian-flagged ship in the Gulf of Oman: this is the first known use of force since the US blockade came into effect. All eyes remain on the start of a second round of talks in the Middle East: President Trump is convinced that an agreement with Tehran will be signed in Islamabad, where the US delegation led by Vice President J.D. Vance is expected on Wednesday. At the same time, according to Bloomberg reports, Trump considers an extension of the ceasefire 'highly unlikely', threatening that without an agreement the cross-strait blockade will remain in place and 'there will be a lot of bombs'. For its part, Tehran - according to several international media reports - is 'positively assessing' its participation in the talks, which is, however, not yet certain. Meanwhile, a new round of negotiations between Israel and Lebanon is scheduled for Thursday.

thus, after last Friday's record highs, at Piazza Affari the Ftse Mib closed down 1.36%, although it continued to defend the 48,000 threshold, at around 48,207 points. It should be noted that the index was also affected by the exchange of coupons of eight companies, weighing in at 0.62%. Not dissimilar the rest of Europe, which filed a session substantially in the red: down Frankfurt (-1.1%), Paris (-1.1%), Amsterdam (-0.2%) and Madrid (-1.3%).

Tensions between the United States and Iran also remain the focus of overseas markets, where the major indices are trading below parity. Wall Street comes, like Europe, from a record week, in which the S&P 500 and the Nasdaq Composite hit all-time highs. Last week, the S&P 500 gained 4.5 per cent, while the Nasdaq Composite jumped 7.2 per cent, marking its thirteenth consecutive session of gains, a streak not seen since 1992.

On the stock market, Marvell Technology benefits from rumours about possible collaborations with Google (Alphabet Class A) on AI chips, cited by The Information. The same news affects Broadcom, which loses ground after recently signing an agreement to produce future versions of AI chips with Google itself. Shares in American Airlines also fell, after the airline rejected rumours of a potential mega-merger with United Airlines. The historic US airline issued a statement on Friday, shortly after the markets closed, explaining that it was not interested "in any discussions regarding a merger with United Airlines," it said.

On the Milanese stock markets, the rise in crude oil prices drove oil stocks as usual: among the best Eni (+2.5%) also rewarded by the discovery of a new gas field in Indonesia. Other stocks in the sector also rose, such as Tenaris (+3.9%) and Saipem (+3.2%), which benefited from the contract with Eni for a new 700 million euro biorefinery in Priolo. Nexi (+3.7%) was also positive, while the banking sector closed negative, particularly with Bpm (-1.7%), Intesa (-2.1%) and Unicredit (-3%). In a statement, the latter called the German Commerzbank (+1.3%)not "adequately prepared to face future challenges" and "excessively focused on achieving short-term results". The CEO of Piazza Gae Aulenti, Andrea Orcel, also stated that a revision of the Ops would depend on the 'level of adhesion' and 'greater transparency on the part of Commerzbank'. At the bottom, among others, Lottomatica (-4.7%) and Buzzi (-2.9%).