Nervousness returns to the stock exchanges as oil rallies, in Milan (-1.6%) Nexi Ko
The war in the Middle East pushes commodities and the Wti is approaching 80 dollars a barrel. Safe haven assets also rose, with the dollar strengthening. Accounts effect in Piazza Affari: Campari soars with better-than-expected numbers, Amplifon falls
(Il Sole 24 Ore Radiocor) - The rally in oil prices, with the Wti at more than a year's highs and targeting $80 a barrel, rekindled nervousness on European stock exchanges, which closed a volatile session in the red. The market is watching developments in the Middle East tensions, with investors wavering between hope for a quick resolution of the conflict and fear of further escalation.
Thus, Milan's Ftse Mib ended the session down 1.61%, down also the Paris Cac (-1.49%), Frankfurt's Dax (-1.78%), Madrid's Ibex (-1.38%), Amsterdam's Aex (-0.45%) and London's Ftse 100 (-1.45%).
Wall Street also down
Wall Street, too, ended the session negative, in the wake of the turmoil in the Middle East and the rise in crude oil prices: the Dow Jones dropped 1.61% to 47,954.19 points, while the Nasdaq fell 0.26% to 22,748.99. Also down was the S&P 500, at 6,830.56 (-0.57%). On the eve, the stock market rebounded amid contrasting news on Iran and better-than-expected US economic data, ignoring Trump's impending tariffs hike. The major indices remain below key support, although many areas of the market are showing strength. On the data front, claims for unemployment benefits remain stable at 213,000, against estimates at 215,000.
The rise of oil and gas continues
Oil prices remained up sharply, with Brent crude oil at $84.9 a barrel (+4.3%) and Wti oil returning to its highest level in over a year at $79.8 (+6.9%). Attention remains high on the closure of the Strait of Hormuz, while China has asked its main refineries to stop exports. Gas also rose, albeit to a lesser extent than at the start of the week, with Amsterdam futures trading at 50.7 euros per megawatt hour (+4%). According to analysts, the market view in these sessions can change quickly and sharply.
Accounts effect: Campari rallies, Nexi and Amplifon thud
On the Milanese stock market, it is the quarterly reports that dictate the most marked movements. Campari flies at +9.96% after its better-than-expected 2025 accounts and dividend hike, and Snam (+1.57%), which raised its coupon and exceeded its 2025 guidance, also does well. On the contrary, a wave of selling brought down Nexi (-16.63%) after plan guidance and accounts with the failure to announce buyback and disappointing guidance. Amplifon (-13.2%) also fell, with below-expected accounts and lack of guidance sending shares back to their lowest levels since 2017. The maxi investments announced by Beijing to support the tech sector and Ai pushed the sector and the beneficiary was St. John's, which finished at +2.99%. Banks fell, with Mps (-4.19%) and Mediobanca (-4.55%) leading the declines, after the presentation of the new list for the board of directors in which the name of the current CEO Luigi Lovaglio is missing.
