Trump's about-face on Iran pushes stock exchanges, Milan (+0.8%) runs Tim (+4.7%). WS +1.38%
For the tycoon an agreement has been found on 15 points, but the president of Tehran's parliament denies the talks. Telecom runs in Piazza Affari after Poste Italiane's takeover aimed at delisting it. Crude oil and gas down, spread at 89 points
(Il Sole 24 Ore Radiocor) - European stock exchanges began the session on a rollercoaster ride, falling more than two percentage points, then rebounded to gain more than 2% and finally closed the session in positive territory. Dictating the first change of pace on the stock markets were the words of US President Donald Trump, who announced "productive talks" with Iran. According to the president, the US and Iran had 'reached an agreement on 15 points', while the US pledged to postpone any military strikes against Iranian power plants and energy infrastructure for a period of five days. Furthermore, Trump said that 'the Strait of Hormuz will reopen, there will be joint monitoring'.
On the other hand, the stock markets then pared their gains after the Speaker of the Iranian Parliament, Ghalibaf (who, according to the Israeli media, was involved in the talks) claimed that 'no negotiations have been conducted with the US and fake news is being used to manipulate the financial and oil markets and to break the stalemate in which the US and Israel are trapped'.
Thus, Milan's Ftse Mib ended an extremely volatile session at +0.81% to 43,189 points, after having slipped below 42,000 during the day. Also up were the Cac in Paris (+0.8%), the Dax in Frankfurt (+0.96%) and the Aex in Amsterdam (+0.6%).
Wall Street up after Trump's words
The indices on Wall Street rose after US President Donald Trump's words on US-Iran talks gave investors hope that the Middle East conflict, which has sent oil prices soaring and fuelled fears of a global recession, may be nearing an end. The Dow Jones rose 1.38 per cent to 46,208.53 points, the Nasdaq advanced 1.38 per cent to 21,946.76 points while the S&P 500 advanced 1.15 per cent to 6,581.04 points.
In another interview, the president added that Iran wants an agreement and that it could be reached 'in five days or less'. On the stock market, shares of airline companies are up sharply, thanks to the suspension of the attacks: Delta Air Lines, United Airlines and Southwest Airlines are travelling in the positive. Carnival and Royal Caribbean Cruises are also up.
