Le European stock exchanges they close under pressure, weighed down by the new outburst of Petroleum, from tensions in the Middle East and from quarterly of the economic giants. The markets are dominated above all by the new tensions in the Persian Gulf, where the standoff between the United States and Iran is intertwined with threats from Houthi in Yemen, fueling fears about possible repercussions on energy routes and crude oil supply. Oil reacted with a sharp rise: the Brent nears $100 per barrel, while WTI returns above 90 dollars. Also rising is gas European, with the Amsterdam TTF above 63 euros per megawatt hour.
All the main European markets are in difficulty with Milan the worst performing market, while fromAsia More positive indications have arrived. The dominant theme here remains artificial intelligence, which continues to support chipmakers: the sector's rally is boosting the stock market, with Samsung and SK Hynix up more than 3%. Weakness is also evident. wall street, with investors focused on the geopolitical front and on quarterly of big tech. A retreats after better-than-expected accounts, But the strong growth in artificial intelligence investments is rekindling doubts about the sustainability of this spending. Tesla is also declining, penalized by lower-than-expected results.
On the macro front, the ECB It does not reserve any surprises and leaves interest rates unchanged, confirming a prudent approach to inflation and effects of energy shock tied to the Middle East. The deposit rate remains at 2,25%, while the market is already looking ahead to the September meeting, when a further hike could return to the agenda if further price pressures arise.
READ MORE The ECB is dealing with inflation but will not touch interest rates. di G. Bruschi
A Business Square sales prevail and the price list pays mainly the bill for the quarterly reports: stmicroelectronics closed the quarter with a net profit of 222 million of dollars, a sharp improvement from the loss of 97 million in the same period last year, but management's caution about future prospects disappointed investors. Heavy selling also occurred on Moncler, despite one half-year results substantially in line with expectations: what penalized the stock were above all the cautious indications for the coming months. Weak Stellantis also on the day of the release of data on registrations in the European Union.
It also slips Unicredit, despite one record half-year with a net profit of 6,1 billion euros, supported by growth in results. Weighing on the bank's stock were especially the words of CEO Andrea Orcel, who dampened expectations on the banking risk and the Commerzbank dossier. Stocks linked to raw materials and defense, however, held firm, with Eni e Leonardo in pole position. Rain of purchases also on Amplifon.
On the currency market theeuro remains stable at around $1,142, after yesterday's close at $1,141.
On the rise spread between BTPs and Bunds which rises to 86 basis points, while the yield on the 10-year BTP rises slightly above 4%, at 4,08%.
