Stock markets: a mixed picture across Europe. Brent crude returns to over $100
Asia up on AI optimism: Seoul, Hong Kong and Shanghai all in positive territory. The markets are awaiting Thursday’s Trump-Xi meeting; the US President is due to address the UN this afternoon
Le ultime da Radiocor
***Borse Asia: indici in timido rialzo, Tokyo chiusa per festivita'
Borsa: future Ue in cerca di direzione, Brent torna sopra quota 102 dollari
Uk: deficit pubblico a 18,3 mld sterline ad agosto, 77,3 mld da inizio anno
(Il Sole 24 Ore Radiocor) - European indices are trading mixed, following a strong start to the week yesterday and with Asian markets and Wall Street posting solid gains. The upward momentum is once again coming from tech, with the Nasdaq surpassing July’s highs and renewed optimism surrounding AI (with strong demand for Meta Platforms’ AI assistant Muse reigniting enthusiasm) raising hopes for growth in investment in the sector and in semiconductors, following last week’s slump. After the opening bell, the FTSE MIB in Milan and the DAX 30 in Frankfurt. The other indices, however, rose only slightly (CAC 40 and IBEX 35 , AEX , FTSE 100).
All eyes, however, remain fixed on New York, where US President Donald Trump is due to address UN delegates and where Chinese President Xi Jinping is due to arrive on Wednesday (with the official Xi-Trump summit taking place in Washington on Thursday), whilst hopes of a easing of tensions in Iran are keeping oil prices in check. President Trump has expressed a willingness to meet Iranian officials travelling to New York to attend the United Nations General Assembly.
Tech and oil stocks are driving the market on the Milan Stock Exchange
On the Milan Stock Exchange, all eyes remain fixed on the banking sector, with the ‘Risiko’ game taking centre stage, and on oil companies, which are at the mercy of crude oil price movements. Topping the list are Technoprobe and Stmicroelectronics following their strong recovery the previous day. Bringing up the rear are Buzzi and Brunello Cucinelli . Selling pressure also on Stellantis. Outside the main index, there was a sharp fall forIndustrie De Nora , following the placement of 10 million shares by Snam via accelerated bookbuilding.
Brent crude returns to over $100 a barrel
Brent crude has, however, risen back above the $100 mark (102.04, up 1.7 per cent; WTI futures are down 2 per cent at 93.59). natural gas in Amsterdam, gaining around two points to just under 75 euros per MWh. In the currency markets, the euro/dollar exchange rate is down slightly at 1.1461. Bitcoin is still under selling pressure, falling to 84,360, down by more than two and a half points.
Spread at 89 points at the start of trading; 10-year yield rises again to 4.37%
European government bond yields rose again at the start of trading after Monday’s fall in oil prices and the generally improved market sentiment had granted the sector a day’s respite. At the open, the benchmark 10-year BTP, maturing on 1 July 2036, was yielding 4.37 per cent, up from 4.33 per cent at the previous close. The spread against the 10-year Bund rose again, albeit only slightly, to 89 basis points (from 88 on Monday). Anticipation surrounds the publication of Istat’s final estimates for the 2025 deficit-to-GDP ratio, which could lead to Italia’s exit from the EU’s excessive deficit procedure. The spread between German and French bonds remains above 100 points (103). The spread between German and French bonds remains under pressure, both due to the state of public finances – with the government expected to present the 2027 budget by the end of September and Moody’s rating due in October – and due to the political landscape ahead of the 2027 presidential elections.
