Truce in Iran triggers market rally, but Hormuz alert remains. Record leap for Milan (+3.7%) and WS (+2.85%)
The knot in the Strait of Hormuz remains, while crude oil is back at 95 dollars a barrel and tension between Israel and Lebanon rises. The euro jumped to 1.17 dollars, gold and BitCoin rallied. Sharply falling spread closes at 77 points
Le ultime da Radiocor
***Banco Bpm: da Credit Agricole nessuna richiesta a Bce di superare il 30%
Borsa: il caso Samsung agita i listini, a Milano (-0,9%) tonfo di St e Prysmian
***Trasporti: Urso, attivato Garante prezzi per aumento anomalo biglietti aerei
(Il Sole 24 Ore Radiocor) - A buoyant session for the European stocks as they celebrate the two-week truce between the United States and Iran. There was a slight slowdown at the end, from the highs touched in the early afternoon, with Tehran attacking some Saudi facilities in reaction to the raids in Lebanon by Israel, which was informed late in the day of an "unwelcome" truce, according to the Wall Street Journal. "Lebanon is not part of the ceasefire agreement with Iran," White House spokeswoman Karoline Leavitt told Axios. Central remains the dossier on the final reopening of Hormuz, which Tehran announced it had blocked again due to Israeli attacks against Hezbollah.
At the end of the day, Milan closed at +3.7% and in a single session recovered more than 28 billion 'market cap', returning to pre-war values. This is the largest daily rise for the Ftse Mib in almost a year, i.e. since +4.7% on 10 April 2025 (in the midst of the chaos over the tariffs announced by Trump). With +5%, on the other hand, the Euro Stoxx 50 posted its best daily performance in over four years. There were also large gains for Paris (+4.5%), Frankfurt (+5.1%), Madrid (+3.9%), Amsterdam (+3.2%) and London (+2.5%).
Wall Street up sharply, Vix fear index plummets
Indexes ran on Wall Street after US President Donald Trump announced the suspension of attacks against Iran for a fortnight, shortly before the expiry of his ultimatum, even as tensions remain on the Israel-Lebanon front (with direct consequences on the Strait of Hormuz). "I agree to suspend bombing and strikes against Iran for a period of two weeks," Trump wrote on social Truth. "We have received a 10-point proposal from Iran and believe it is a workable basis on which to negotiate." Wall Street closed the session with solid gains, with the Dow Jones jumping 2.85%, to 47,909.92 points, while the Nasdaq advanced 2.80%, to 22,635.00. The S&P 500 also rose sharply, to 6,782.81 points (+2.51%).
Banks and luxury goods rip in Piazza Affari, oil stocks go down
At the end of the session, looking at individual stocks, crude oil prices dragged down oil stocks, such as Eni and Tenaris, among the few stocks in the "red" at the end of the session on the Ftse Mib. On the opposite side of the Milanese list, a day of bullishness for banks, with Unicredit leading the way for a long time, thanks also to a report by Barclays underlining the resilience of the European sector. At the top Prysmian and Buzzi Unicem on the back of prospects for reconstruction and reopening of construction sites in the Middle East. Meanwhile, hopes for a resumption of tourist flows to and from the Gulf give wings especially to luxury stocks, such as Brunello Cucinelli, Moncler and Ferrari. Purchases then on Azimut after the group disclosed that it recorded total net inflows of 945 million in March 2026, bringing total net inflows for the first quarter of 2026 to 4.6 billion.
Oil reverses to $95 a barrel
The agreement on a truce in Iran pushed down the oil prices which closed at the end of the day well below 100 dollars per barrel. The Wti dropped 16 per cent below USD 95, while the Brent dropped more than 14 per cent to USD 93. Gas in Amsterdam fell 14% to below EUR 45.3 per megawatt hour while precious metal buying returned with gold moving back to the USD 4,832 per ounce area and silver to USD 77.
