Le European stock exchanges They started a new session without major shocks, after the weakness on Wall Street and a mixed morning on Asian markets. Tokyo remained closed for the holiday, while the main European markets moved just above parity. Milan 0,2% salt, Frankfurt it is flat (-0,01%), Paris yields 0,02% e London gains 0,01%. Just above parity also Amsterdam (+ 0,2%) and Madrid (+ 0,3%).
What is still keeping the markets in suspense is the Strait of Hormuz. Hopes for a quick reopening are fading after renewed tensions between Washington and Tehran: the American president Donald Trump he said he might ask theIran compensation for the victims of the conflict, while Tehran continues to set conditions for reopening the strategic passage.
Hormuz reignites oil and inflation fears
The new tensions between Washington and Tehran are still pushing up energy commodities, especially the Petroleum. The Brent rises to 89,19 dollars per barrel (+1,68%), approaching the 90 dollar threshold, while wtf gains 1,6% to $83,44. Also rising is gas European natural gas, with the Amsterdam benchmark close to 61 euros per megawatt hour (+0,28%).
The new energy surge brings to the fore the risk of an acceleration of theinflation and contributes to the rise of US Treasury yields: the 10-year bond goes from 4,70% to 4,713%. Investors are therefore looking to the US inflation data expected tomorrow, which could offer decisive indications on the next moves of the Federal ReserveAccording to the CME FedWatch Tool, the probability of a rate hike in September it remains just below 50%.
Asian stocks mixed, Seoul rallying with semiconductors
In Seoul the Kospi rises by 1,6% above 6.360 points, supported by the main producers of semiconductors Samsung Electronics e SK HynixThe South Korean government's plan to launch a 5.000 trillion won (about $3,5 billion) fund to support the domestic chip industry is also contributing to the sector's strengthening. In the background, signs of robust demand for artificial intelligence remain: Tsmc recorded 45% year-on-year growth in July sales, confirming the strength of the semiconductor market.
Stay in the spotlight too Nvidia, following the announcement of a partnership with six major financial institutions to create computing financing platforms, with the goal of mobilizing over $500 billion in third-party capital for AI infrastructure.
The rest of Asia, however, is proceeding at a different speed. Hong Kong closed down 0,63%, while the Shanghai Composite dropped 0,1% and the CSI300 gained 0,2%. Shenzhen (+0,4%) performed better, with ChiNext Composite up 1,4% and the Shanghai Star50 of 0,2%. In India, the sensex lost 0,5%, while the rupee fell below 95 per dollar, also penalized by the country's heavy dependence on oil imports.
The surprise comes from Singapore, where is the East Straits Times The stock exchange updated its all-time high, gaining 1,3% to 5.774,21 points. The upward revision of economic estimates also supported the stock market: the Ministry of Commerce raised its GDP growth forecast for 2026 to 4,5%-5,5%, from the previous 2%-4%. In the second quarter, the city-state's economy grew by 5,9%, exceeding preliminary estimates, thanks in part to the boost from global investments in AI.
In AustraliaMeanwhile, the ASX 200 rose 0,3%. The Reserve Bank of Australia left its key interest rate unchanged at 4,35%, as expected, acknowledging the economic slowdown but still judging inflation, which rose to 3,8% in June, to be too high.
Eni and Tenaris lead the rise in Piazza Affari.
A Business Square The FTSE MIB rose 0,24% to 53.792,64 points, with energy-related stocks still supported by the rise in oil prices. Eni It is the best of the list and gains 2,18%, while Tenaris rises by 1,50%. Among the brightest stocks, we also find Prysmian (+ 1,47%) and BRUNELLO CUCINELLI (+ 1,33%).
On the other hand, Stellantis is the worst stock in the Ftse Mib with a drop of 0,69%, followed by Unicredit (-0,39%), nexi (-0,36%) And Buzzi (-0,27%). Unicredit remains in the spotlight for the banking risk, after the first meeting with the top management of Commerzbank dedicated to the legal and regulatory aspects of a possible merger.
Among the stocks under observation there is Leonardo (+0,7%), after RBC Capital initiated coverage with an Outperform rating and a target price of 70 euros. Classic Ferrari for sale (+0,3%) benefits instead from the increase in the target price of Goldman Sachs to 407 euros, from the previous 380 euros, while on Unipol (-0,21%) Berenberg raised its target price to 33,5 euros.
The front also remains warm Mps-MediobancaMPS's board of directors is called upon to ratify the capital increase for the takeover bid, following the ECB's approval, while Delfin has contributed its entire 19,8% stake in Mediobanca. Total subscriptions have thus virtually reached 19,4%, approaching the 35% threshold, which, with a possible contribution from Caltagirone, could rise to 43%.
Attention also to A2a (+0,08%), after the 5 million euro fine imposed by Arera for alleged manipulation of the wholesale electricity market in 2022, and D'Amico, which has exercised its option to purchase the product tanker MT High Discovery for approximately $15,3 million. The company is also under scrutiny on the stock exchange. NextGeo, after its subsidiary Rana Subsea acquired certain business units of CNS International and Maser Marine Services for a maximum value of 6,1 million euros.
Gold hits two-month highs, spread hits 79 points
It's not just oil that flows.'gold Overnight, gold surpassed $4.400 an ounce, hitting a two-month high, before falling back to $4.364. The precious metal continues to benefit from demand for safe-haven assets, geopolitical tensions, and expectations of a possible easing of U.S. monetary policy. Over the past month, it has gained approximately 9,4%, while gold has gained 31% since the beginning of the year.
On the Italian market, the spread between 10-year BTPs and Bunds rose to 79 points, from 78 the day before, while the yield on the 10-year BTP rose to 3,99%, from 3,96% previously. The currency market remained relatively unchanged:euro/dollar stands at 1,1538, the euro/yen at 183,7 and the dollar/yen at 159,2.
