Le European stock markets improve slightly in the middle of the day but remain devoid of real impetus in the first session of the week of August 15th when, also due to the holiday period, trading became thin. The good tone in Asia, with Tokyo up by more than 2%, was not enough to give a clear direction to the Old Continent's stock markets, held back above all by the persistent uncertainties over the Strait of Hormuz and low volumes. The macroeconomic picture remains relatively sluggish, but investors' attention is already focused on July's US inflation, due on Wednesday. After the weak US labor market report, with just 23 new jobs added in July, the price data will be crucial to understanding how much leeway the Federal Reserve has to keep rates unchanged or change its stance in the coming months.
On the geopolitical frontIran and Oman have reportedly entered the final stage of negotiations to define new sea routes in the Strait of Hormuz, but Tehran continues to make the full reopening of the passage conditional on US compliance with its conditions. The lack of a definitive agreement thus continues to impact energy commodities.
Il Brent The price accelerates and approaches $85 a barrel, up more than 1%, while WTI rises to around $79. Natural gas in Amsterdam is moving more sharply, gaining almost 5% and returning to around €58 per megawatt-hour.
However, sentiment is receiving support from Asia. Nikkei Tokyo closed up 2,22%, while the Kospi Seoul gained 0,65%.
Europe improves slightly, Milan returns to aiming for 54
In the middle of the day the main European stock markets show a slight improvement, although without giving the session a real boost. Frankfurt gained 0,24%, Amsterdam 0,24%, Madrid 0,13%, and Paris 0,06%, while London remained the weakest, down 0,25%. At Piazza Affari, the FTSE MIB rose 0,21% to 53.829 points, approaching the 54-point threshold again after a morning spent just above par.
Purchases are mainly focused on Prysmian, which rises by 2,54%, and on stm, up 2,13% thanks to the renewed interest in the chip sector, where Tsmc continues to flyAvio, Banco Bpm, Unipol, and Moncler also performed well. Utilities, on the other hand, are weakerTerna fell almost 1%, as did Tenaris, Snam, and Italgas. Poste Italiane and Nexi also declined.
Salt lightly Eni after the green light from the European Commission to the joint venture with Khazna Data Center HoldingsThe operation concerns the construction and management of data centers and received approval from Brussels through a simplified procedure, as no significant competition concerns arose.
The euro remains stable, the yen remains weak, and the spread is at 78 points.
On the currency market the exchange Euro-dollar exchange rate remains practically unchanged around 1,1555, in line with Friday's close. The yen, however, continues to show weaknessThe euro-yen rose to around 183,06, while the dollar-yen traded at 158,41. This move came despite the Bank of Japan's more dovish tone, a sign that the market remains uncertain about the timing of the Japanese central bank's next moves.
The gold remains in the spotlight After the strong recovery in recent sessions, the precious metal remains above $4.300 an ounce and is eyeing the $4.400 mark, while silver and platinum are also gaining ground.
On the bond market, the spread between BTPs and Bunds remains around 78 basis points. The yield on the 10-year Italian bond remains around 3,92%, while that on the German Bund remains just above 3,1%.
I Wall Street futures Finally, they point to a mixed start to the US session. The Dow Jones Industrial Average contract fell 0,09%, while the S&P 500 contract rose 0,06%. The Nasdaq 100 futures contract performed better, gaining 0,28%, still supported by interest in the technology sector.
