Stock exchanges, Europe contrasted without Wall Street. In Milan (-0.03%) purchases on Leonardo and Fincantieri

(Il Sole 24 Ore Radiocor) - An interim session for the European stock exchanges, on a day with reduced trading volumes due to the closure of Wall Street, which is celebrating Presidents' Day, and the Chinese stock exchanges, which have been celebrating the Lunar New Year all week. Milan ended the day on a parity (-0.03%), while the other continental indices arrived at the end of the session in no particular order. In particular, Frankfurt was weighed down by the losses of Siemens (-6.5%). In a day lacking in macro data, investors await the publication of the verbals for the Fed's latest meeting the day after tomorrow, in light of the higher-than-expected slowdown in US inflation, which resulted in higher expectations for US central bank cuts.

On the equities front, stock markets attempted to stabilise after last Friday's losses triggered by artificial intelligence concerns. The sector also remains a special watch on equities, in light of today's thud by Dassault Systemes (down more than 8%) in Paris, and the generalised declines in European tech. In fact, Stmicroelectronics suffered, closing at the bottom of the Ftse Mib with a 2.04% drop. Purchases on the Milan stock exchange were driven primarily by Leonardo (+3.6%), which won an order in Saudi Arabia to supply the Ministry of Defence with four C-27J Spartan aircraft for maritime patrols. Also doing well were Fincantieri (+3.4%) and the defence sector in general, following the Munich Security Conference. Oil companies (+2.91% Tenaris and +2.39% Saipem) and insurance companies (+2.23% Unipol) also posted positive results. Banks were in the limelight, with most stocks rebounding after last Friday's losses (Bper, ). Among the worst performers were Nexi (-3.5%) and Diasorin (-2.98%). Utilities were weak (-1.62% Enel and -1.35% A2a), while the government is working on the new decree to mitigate electricity prices. Outside the main basket, Eurogroup Laminations (-58.9%) plummeted after the sale and purchase agreement, which included a residual takeover bid by the Chinese fund Fountainvest for the delisting, fell through.

On the currency front, the euro/dollar little moved remains around 1.18, whileBitcoin fell again, remaining well below USD 70,000. On the commodities front, oil rose, with traders monitoring geopolitical risks ahead of the resumption of negotiations between the US and Iran expected on Tuesday 17. Brent crude is trading at around $68 a barrel, while Wti is around $63. Down goes the gas in Amsterdam. Gold trades below the $5,000 mark in the spot contract.

First weekly session with minimal movements on the secondary market of Eurozone government bonds, also due to the absence of American operators for the Presidents' Day holiday. The yield on Italy's benchmark 10-year BTp, maturing on 1 February 2036, closed at 3.37%, in line with Friday's closing and confirming the gradual slowdown in the medium-long maturities of both Eurozone and US Treasuries that occurred in the first part of February. The spread with the German Bund of the same maturity marked 61 points at the end of trading, aligning itself with Friday's figure.