Stock exchanges, Wall Street closes positive. In Europe, only Paris is saved. Banks under pressure in Milan
On the trade front, US tariffs on India doubled to 50%, formally justified by massive Indian purchases of Russian energy. German consumer confidence falls in September, Euro back to $1.16
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(Il Sole 24 Ore Radiocor) - European stock exchanges closed in negative territory with the sole exception of Paris (+0.44%) which seems to have digested fears of a possible government crisis in France and at this point awaits the confidence vote on 8 September. Thus, theFTSE Mib ended trading down 0.72%, heavily weighed down by banks after rumours suggest that the government is negotiating with banks on a contribution to provide additional liquidity to public finances in view of possible tax cuts in 2026. Frankfurt also closed in the red (-0.41%) after negative data on consumer confidence and the Ifo employment barometer in Germany. Meanwhile, markets are awaiting the Nvidia chip giant's accounts, useful for trying to get a sense of the direction in which the artificial intelligence sector will go. Analysts are expecting adjusted earnings of $1.01 per share on sales of $46.05 billion in the second quarter.
Wall Street closes positive ahead of Nvidia accounts
Overseas Wall Street closed positive. The Dow Jones climbed 0.32% to 45,565.05 points, the Nasdaq advanced 0.21% to 21,590.14 points and the S&P 500 gained 0.24% to 6,481.39 points. At the same time, both theopen-field clash between President Donald Trump and the Fed and the trade issue remain in the spotlight, on the day when US tariffs on India, formally justified by massive Indian purchases of Russian energy, doubled to 50%. On the stock level, it flies Mongodb Inc after the data platform's accounts beat Wall Street's expectations. Also rising was the stock of Okta Inc, after its quarterly results and full-year forecast exceeded estimates. Both companies attributed the good results to demand from companies developing artificial intelligence platforms
In Milan banks targeted by sales
Another day in the red for banks in Piazza Affari: the deputy prime minister, Matteo Salvini, once again reiterated that credit institutions can make 'a contribution to the country's growth and to families'; a move that could already arrive with this manoeuvre. The Transport Minister's words thus seem to confirm the press rumours that the government may intervene on the timing of the use of DTAs, with an extension of the suspension already envisaged for the two-year period 2025-2026 by last year's manoeuvre. However, analysts note, at the moment these are only hypotheses, since no meetings have yet been set with the industry to assess shared solutions. Thus Mps and Bper led the sector's declines at -2.7%, Intesa (-2.53%) and Mediolanum (-2.28%). At the tail end Diasorin (-5.84%) after JPMorgan initiated coverage with an "underweight" rating and a target price of EUR 75.4. On the other hand, luxury goods did well with Moncler (+2.33%) and the energy sector with Italgas up +1.57%.
Oil up, Euro back to $1.16
On the energy front, oil was on the rise with Brent at over USD 67 per barrel and Wti at USD 63. Gas, on the other hand, fell by over 2% to 32.71 euro per megawatt hour. On the currency side, the euro returned to $1.16. Finally, the BTp/Bund spread closed higher at 91 points, up 4 cents from yesterday's reference. The yield on the benchmark 10-year BTp rose more modestly to 3.60%, up from 3.58% at the close on the previous day. The spread between Italy and France on the ten-year benchmark maturity stood at 9 basis points with the OaT ending trading at 3.51%, up slightly on eve's close
