Stock exchanges, Europe closes sluggish. Silver slips after new record high at $82
Peace winds penalise Defence, at Piazza Affari (Ftse Mib -0.38%) falls for Leonardo and Fincantieri. Rheinmetall down in Frankfurt. Geopolitical uncertainties push precious metals. Wall Street closes negative: DJ -0.51%, Nasdaq -0.50%
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(Il Sole 24 Ore Radiocor) - The European stock exchanges filed without momentum the first session of the New Year's week. Thus, on a day of reduced trading due to the festive mood, Milan's Ftse Mib (-0.38%) paid the price for the falls in defence stocks, although, like the other indices of the Old Continent, it is preparing to close a 2025 of double-digit rises. The same applies to Wall Street, which, after recent record highs, continues to fall, held back by new sales on tech. The other main European indices ended trading around parity. Meanwhile, traders' attention is already focused on the publication on Tuesday, 30 December, of the verbals of the latest Fed meeting indicating the US central bank's expected monetary policy trajectory. Expectations for at least two more cuts in 2026 and geopolitical uncertainty pushed precious metals to highs. In particular silver hit a new record high at $82, only to retreat. Spot gold also fell.
Wall Street closes negative, DJ -0.51%, Nasdaq -0.50%
Wall Street closed negative. The Dow Jones dropped 0.51 per cent to 48,461.93 points, the Nasdaq gave up 0.50 per cent to 23,474.35 points and the S&P 500 lost 0.35 per cent to 6,905.74 points. On Wall Street tech giants and investor fears over high stock valuationscontinued to weigh on Wall Street.
Nonetheless, stock markets are expected to close 2025 with substantial gains. The S&P was up almost 18%, the Dow Jones gained 14.5% and the Nasdaq climbed more than 22%. This should be a relatively quiet week for investors. On the macro front, the data on home sales compromises is expected today. But the highlight is likely to be tomorrow with the release of the minutes of the Federal Reservemeeting held earlier this month. The document could provide new insights for investors looking for clues about the Fed's next move in January. It is almost certain that the central bank will leave rates unchanged next month, while it is more uncertain what it will do in March.
Leonardo and Fincantieri slip in Milan, Diasorin does well
On equities, defence stocks were heavy in Piazza Affari, in line with the European sector: sales on Leonardo - Finmeccanica and Fincantieri , but both stocks are preparing to close a record 2025. Weighing on the sector are new prospects for peace in Ukraine, with US President Donald Trump describing an agreement as 'close'. Thus, in Frankfurt, Rheinmetall slipped, while in Paris sales hit Thales. Returning to the Milanese stock, purchases instead supported Diasorin which took advantage of the US Fda's green light to the first test on the new Liaison Nes platform and Nexi, after the acquisition of the merchant acquiring activities of Banca Popolare di Sondrio. Under scrutiny Prysmian after a joint venture led by the cable company and Fincantieri signed a agreement to acquire Xtera Topco Limited, active in turnkey submarine telecommunications systems.
Crude oil rises on geopolitical tensions, gas also up
On the currency market, the euro/dollar is little moved, settled highly above 1.17. On the energy front, oil prices rose in the light of statements by the Chinese government, which seems intent on intervening to support the economy of the People's Republic next year, and on fears of supply disruptions due to geopolitical tensions. The Wti thus climbed to over 58 dollars a barrel and the Brent exceeded 62 dollars. Also advancing was the price of natural gas in Amsterdam above EUR 28 per megawatt hour.
