After the uncertainty at the beginning of the session, the European stock exchanges continue in rise mid-day, as the market continues to evaluate the mixed news coming from the Middle East. According to a senior official quoted by Al Arabiya e Al Hadath, Iran e Oman they have defined the general lines of a temporary opening of the Strait of Hormuz, pending the final agreement. The proposed agreement would last 60 days and aim to restore navigation. It would also not include transit rights for ships. However, the Iranian state news agency published a draft of the agreement on Thursday that presents restrictive conditions for naval traffic in the strait. In all of this, the US president, Donald Trump, said that negotiations between Iran and Oman on Hormuz "are progressing". This is why the markets are trying to orient themselves, with European stock markets moving towards historic highs: they are advancing Ftse Eb from Milan, Cac of Paris and Dax of Frankfurt. Also on the riseAex Amsterdam, the Ibex of Madrid and London's Ftse 100.
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But right on the price list of London It is worth noting the cold reception of the market towards the acquisition of EasyJet by the American fund Apollo: it is selling the shares of the British airline. On Thursday the parties announced that they had reached an agreement on the terms and conditions of a cash acquisition worth a total of $7,7 billion (£5,7 billion), far exceeding Castlelake's offer of £5,5 billion. On the stock exchange Paris, instead, gives in Eutelsat The satellite telecommunications operator's shares suffered a sharp decline, the largest decline in the SBF 120 index.
For what concerns Wall Street, futures they herald an opening positive After the declines of yesterday and today, investors are waiting for the US employment data, considered an important indicator of the state of the economy and inflationary pressures, useful at this juncture to try to predict the Fed's next moves.
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On the equity front, Business Square it appears volatile with Diasorin in the lead. More shopping on Prysmian which benefits from Berenberg's positive reviews, and stmPositive reactions to the quarterly results: good Ps after that in first semester has surpassed the one billion profit threshold, it is progressing Unipol after profit up 42% to 1,06 billion in the semester. Also up Generali after accounts above expectations, while remaining behind Mediobanca which on Thursday released data for a record six-month period. At the end Stellantis which is giving way heavily. Outside the main basket, it plummets Industrial series (up to -18%) following the announcement of its merger into its parent company and subsequent delisting.
On the front energetic, commodity prices are also at the mercy of the news coming from the Middle East: after a rising start, the crude reverses course. Slightly recovering. gas.
Gold and silver are back on the move after a long hibernation
The he starts running again and reaches the middle of the day the highest since June 16, with prices rising up to $4.300 per ounce (+1,6%): to support the precious metal are the US employment report expectations, considered a key indicator for assessing the Federal Reserve's next moves, but also the return of geopolitical tensions in the Middle East and renewed energy-related inflation concerns. Investors remain divided over the possibility of a Fed rate hike in September. On the one hand, the slowdown in the labor market fuels expectations of a less restrictive monetary policy; on the other, price pressures, reinforced by the renewed rise in oil prices following tensions in the Strait of Hormuz, are pushing some operators to maintain a more cautious stance. Institutional buying is also supporting demand for gold. In China, investors have continued to increase their long positions in gold-related instruments, using it as a hedge against equity market volatility, particularly in the technology sector.
Furthermore, the support provided by central bank purchases remains strong, having strengthened gold's role as a reserve diversification asset in recent years. Silver also rose, accelerating to $64,3590 per ounce (+4,63%)., benefiting both from the return of purchases of precious metals and from demand linked to industrial uses, particularly in the electronics and energy technology sectors.
