The European Stock Exchanges are travelling in decline, weighed down by the news coming from the Middle East, where the return to arms has pushed up prices Petroleum above $91 a barrel and rekindled inflation concerns. Brent crude rose 1,4% to $91,7 a barrel in the early morning, while WTI advanced 1,5% to above $87. Oil prices also rose. gas, which on the Amsterdam Stock Exchange are trading at over 70 euros per megawatt hour.
In this context, after the resumption of attacks, the American president, Donald Trump, said the US would "hit hard," while Iran's military warned Middle Eastern countries that if they concede territory and airspace to the US for attacks on Iran, Tehran will respond with "significantly greater" force. with each new aggression. A sign of openness, however, came from the Iranian president Masoud Pezeshkian, who said at the Shanghai Cooperation Organization summit that if the US respects the commitments made under the memorandum of understanding signed in June, Iran will do the same.
READ MORE Oil, gas, and wheat prices rise after renewed tensions in the Middle East and Ukraine. di G. Bruschi
On the macroeconomic front, investors are awaiting the data on theEuropean inflation, while at the end of the week, data on American jobs will be relevant, especially in light of the inflation fears expressed by Fed Chairman Kevin Warsh in Jackson Hole.
So, after a mixed opening they are going down Frankfurt, Madrid. Below parity too Amsterdam e Paris, while London it is closed for holidays.
Milan after a slight increase in opening, as the minutes passed it turned negative, weighed down by the banks, with Mediobanca, MPS and Intesa which are leading the sector's declines. At the bottom of the FTSE Mb, however, there is Inwit. In red Stellantis Following the appointment of Arnaud Belloni as CEO of Fiat, Abarth, and Lancia and Chief Marketing Officer for Europe, rumors suggest BYD is interested in purchasing its Brampton plant in Canada. Defense stocks are also down, with Fincantieri, Avio and Leonardo declining. On the other hand, the rise in oil prices is pushing Eni and Tenaris, you can also buy on Diasorin.
Turning to the currency market, the euro is in the 1,159 area against the dollar from 1.161 the day before, while among raw materials spot gold falls to 4.387 dollars an ounce (-1,4%). Slightly higher spread between BTPs and Bunds. The differential yield between the BTP The benchmark 10-year Treasury and the German benchmark bond of the same duration stand at 83 points from 82 at yesterday's close. The yield on the benchmark 10-year BTP, however, continues to rise, settling at 4,17% from 4,15% the day before, when it had reached levels not seen since the beginning of December 2023. Yields on Treasury bonds are also rising. Oat 10 French, at 4,2%, of the Waist German, at 3,34% and passes Spanish, at 3,8%.
