Stock market, Europe weak amid US-Iran standoff and wait for Nvidia accounts
Oil prices fall slightly, but the market fears a new inflation flare-up. In Piazza Affari St leads the list after realisations
by Martina Soligo and Stefania Blasioli
Le ultime da Radiocor
Borsa: Europa cauta tra stallo Usa-Iran e attesa Nvidia, a Milano (+0,1%) scatta St
Commerzbank: soci in fila per assemblea, cartelli "UniCredit go away"
Stellantis: nuova jv con Dongfeng in Europa per condividere vendite e produzione (RCO)
(Il Sole 24 Ore Radiocor) - The European stocks are travelling weak, trailing Asia and Wall Street, under pressure from rising bond yields and recent tensions over semiconductor stocks. The market fears that, in the absence of a diplomatic breakthrough on Iran, oil prices will continue to rise, pushing up inflation, while bonds added an additional element of complexity to the market. On the Middle East front, US President Donald Trump issued Tehran with a new ultimatum of 'two or three days' or at least 'a limited amount of time' to find a peace deal.
Meanwhile, turbulence continues in tech-related sectors, due to concerns over the sustainability of spending on data centres and artificial intelligence. In this sense, important will be Nvidia Corp's quarterly report, scheduled for this evening: the Santa Clara-based giant has always been a litmus test of the health of the tech sector and, in particular, artificial intelligence. Expectation is also high for the verbals of the latest Fed meeting to see if more details on the US central bank's latest decision and some clues on the future path of rates will emerge.
In Milan, eyes on Unicredit on the day of the Commerz meeting
As for the stocks in Piazza Affari, Unicredit at the pole on the day of the shareholders' meeting of Commerzbank : while the takeover bid launched on the German bank is still at zero, derivatives signed by the Italians bring to 40.6% the exposure in Commerz. Also in the spotlight Leonardo, after the contract worth an estimated EUR 320 million for the supply of naval combat systems to the Kuwaiti Navy. Corre Stellantis after the announcement of a joint venture with Dongfeng. Stmicroelectronics snaps to the top of the list after previous sessions' gains. Under the lens Diasorin on the day of Investor Day, when the group's new 2030 Plan will be presented.
Oil down, but Brent remains above $110
Oil prices fell slightly, with Brent crude remaining above USD 110 per barrel and Wti in the area of USD 103. Still on the rise insteadgas in Amsterdam at EUR 52.3 per megawatt hour (+1%). On the currency side, the euro was worth USD 1.1602 (up from USD 1.163 at the close) and 184.39 yen (up from184.59), while the dollar/yen exchange rate was at 158.92 (159.14).
Spread drops to 76 points, yield to 3.94%
Italian ten-year benchmark bonds appreciated slightly, in line with the general trend of eurozone sovereigns. The spread with German bonds of equal duration narrowed slightly to 76 basis points from 77 points at Tuesday's close. The yield of the benchmark BTp (February 2036) is indicated, after early trade, at 3.94% (3.96% on eve's closing and 3.92% on Monday's closing).
