Stock markets: Europe in positive territory ahead of the US mid-term elections. Oil prices fall
The focus remains on the tech sector as the quarterly results season continues. The euro is trading close to $1.12, with the spread at 116 points
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(Il Sole 24 Ore Radiocor) - European stock markets have opened November on a positive note, whilst markets await the US mid-term elections, scheduled for tomorrow. The markets are being buoyed by the fall in oil prices, with Brent crude back at $110 on hopes that talks between Qatar and Iran may lead to an end to the conflict between Tehran and the US. However, the technology sector remains in the spotlight, having fallen sharply in recent days as investors question the sustainability of massive investments in artificial intelligence. The FTSE MIB in Milan is thus gaining ground against a backdrop of general progress amongst the indices of the Old Continent.
On the macroeconomic front, this week will also see the Bank of England’s interest rate decision on Thursday, US employment figures and the European inflation figures on Wednesday. The quarterly results season also continues on both sides of the Atlantic.
Turning back to the equity market, amongst the leading shares listed on the Milan Stock Exchange, technology stocks are attempting a recovery, led by Stmicroelectronics . Banks are also performing well, with Unicredit leading the way, whilst A2a and Moncler and oil companies.
Lottomatica up, utilities down
Buying in Lottomatica Group on the eve of its quarterly results. The market is assessing the impact of the measures set out in the Budget Law for the gaming and betting sector, judging it to be ‘manageable’ overall.
Analysis of the budget bill, however, shows that utility companies are being penalised; in particular, they are bearing the brunt of the increase and extension of the IRAP surcharge for energy companies, set at 5 points in 2027 and 3 points in 2028–29. In addition to A2A, Hera .
