EU stock markets remain cautious. Starmer’s departure fails to unsettle London and the pound
All eyes are also on the Middle East where, despite Trump’s inflammatory remarks, the first round of talks has seen some progress. In Milan, the ex-dividend date is having an impact of 0.21 per cent
by Eleonora Micheli and Martina Soligo
Le ultime da Radiocor
Uk: il primo ministro Keir Starmer si e' dimesso (RCO)
Borsa: Milano amplia le perdite a -0,5%, ma sconta stacco cedole per 0,21%
Borsa: Europa prudente con occhi a Medio Oriente, a Milano (-0,2%) scatta St
(Il Sole 24 Ore Radiocor) - Europe begins the week on a cautious note, with all eyes firmly fixed on the situation in the Middle East. Despite President Donald Trump’s inflammatory remarks against Tehran following the closure of the Strait of Hormuz, Vice-President JD Vance has stated that the first round of talks had made progress. This position was also confirmed by the Iranian Foreign Minister, Abbas Araghchi. Consequently, oil prices continue their downward trend, whilst the indices are moving cautiously: the FTSE MIB in Milan (affected by the dividend ex-date by 0.21%), and the CAC 40 in Paris and other European stock markets. The UK (FTSE 100)remains under close scrutiny on the day that Prime Minister Keir Starmer announced his resignation.
St takes off in Milan, luxury sector remains weak
On the Milan Stock Exchange, Stmicroelectronics , driven by renewed enthusiasm for the artificial intelligence sector. Oil companies are also performing well, with Saipem and Tenaris , whilst investors are wondering about the future boundaries of the banking system following the current wave of consolidation. The spotlight is particularly on Banca Monte Paschi Siena, as the bank is expected to give its view on the proposals put forward byIntesa Sanpaolo and Banco Bpm. The luxury sector is weak, with Moncler and Brunello Cucinelli .
Oil prices fall, gas prices rise
On the foreign exchange market, the euro/dollar exchange rate remained largely unchanged at 1.14. On the energy front, as mentioned, the decline in oil continues to fall, with WTI at around $75 a barrel, whilst Brent is trading at around $78. On the other hand, natural gasis on the rise, trading above 42 euros per megawatt-hour in Amsterdam.
Spread down slightly; 10-year yield also down
The spread between BTp and Bund has fallen slightly: the yield spread between the benchmark 10-year BTp and the German Bund of the same maturity stood at 70 basis points, down from 71 points at the close of trading last Friday. The yield on the benchmark 10-year BTp also fell, opening the session at 3.66%, down from 3.69% at the previous close.
Tokyo closes up 1.55% thanks to AI-related tech shares
The Tokyo Stock Exchange closed higher, buoyed by optimism surrounding companies linked to the global expansion of artificial intelligence technology. The Nikkei index rose by 1.55% to 72,353.96 points, buoyed mainly by technology and electronics stocks. Market participants are now awaiting the latest Japanese PMI data for insights into the economy, as well as the minutes of the Bank of Japan’s latest meeting, during which monetary policy makers raised interest rates to 1 per cent.
