With the Stock Exchange of Wall Street closed for the Labor Day holiday (including that of Sao Paulo, Brazil, where September 7 is Independence Day) in this first session of the week all eyes are on Europe, and in particular on Frankfurt in the aftermath of the sensational affirmation, in the elections in Saxony, of the far-right and anti-European party Alternative fur Deutschland, which broke through with over 44% of the vote, an unprecedented result that shocked the country. Probably also for this reason today The German stock market is almost the worst on the continent with -0,15%, weighed down above all by the 7,5% decline in pharmaceutical company Fresenius. Madrid ended the year slightly worse.
In the absence of the Nasdaq, European tech stocks soar.
For the rest, Europe is travelling at a slow trot but still in a positive way and the protagonists, in the absence of the Nasdaq benchmark index, are the technology stocks listed in the old continent: in Milan and Paris Stm +4%, Infineon Tech +6,9% in Frankfurt, and especially ASM +5% and Besi +3,5% in Amsterdam. Here's how the main indices closed: Piazza Affari +0,25%, London -0,08%, Paris +0,33%, Amsterdam +0,17%. In Milan the best stock is Lottomatica +7,7% after the new details on the merger with the Spanish Cirsa, while Poste Italiane pays duty -2,4% and Telecom Italia -3,5% when they entered the final rush of the Opas, which can be applied for until this Friday. In the aftermath of the disastrous Monza Grand Prix (but the events are obviously unrelated), Ferrari gains 0,84%.
Banks move little at Piazza Affari: here are the prices
The banks are little moved, ready to close in one way or another the various pending operations in a game of risk that involves several of them and also the insurance groups: today the best option is Unicredit +0,57%, then Intesa Sanpaolo -0,03%, MPS -0,05%, Banco BPM +0,3%, Banca Generali +0,4%The bank led by Carlo Messina specified that "there are no agreements, understandings, or convergences of interests between Intesa Sanpaolo and the Unipol-Bper group, or any other shareholder, regarding stakes in Assicurazioni Generali." General -0,2% on the day on which it communicated that it had purchased, between 31 August and 4 September 2026, a total of 588.417 treasury shares at the weighted average price of 44,31 euros, for a value equal to 26.073.948,28 euros, under the buyback program.
Oil nears $100 a barrel, gold and silver stable
Oil prices continue to rise, with Brent crude approaching $100 a barrel, surpassing $97 today. WTI Crude Oil is hovering around $93 a barrel. For Brent, this is the highest value since the end of JulyIran has said it is close to a deal with Oman for a tanker route through the Strait of Hormuz, but US rhetoric has consistently been uncompromising towards the corridor. has increased the risks of escalationMeanwhile, the US and Iran continue to attack each other's military and commercial vessels.
European natural gas also surged, once again exceeding 73 euros per megawatt hour. Gold and silver are insignificant: the former at $4.400 an ounce, the latter below $67. The euro begins the week strengthening against the US dollar, with the exchange rate at 1,163. Bitcoin remains close to $80.000. BTP-Bund spread is now steadily above 80 basis points, with the yield on our benchmark 10-year BTP always very high, above 4,1%.
