European stock markets continue to rise following a positive opening on Wall Street. A climate of optimism has returned to markets despite the situation in the Middle East, with the conflict between the US and Iran and the closure of the Strait of Hormuz. Oil prices continue to fall while gas shows no sign of slowing its rally. On the currency front, the euro falls to 1.1369 against the dollar.
The Stoxx 600 index rises 0.5%. Gains are recorded in Madrid (+1.1%), Frankfurt (+0.8%), Milan (+0.5%), Paris and London (+0.4%). The main indexes are supported by the financial sector (+0.8%). The technology sector also performs well (+0.5%), as the resilience of artificial intelligence investments is assessed. Utilities are positive (+0.3%), with oil prices higher. In Amsterdam, prices record an increase of 3.7% to 64.18 euros per megawatt-hour. The energy sector posts a negative session (-0.9%), in line with oil price movements. WTI loses 2% to $90.33 per barrel. Brent falls 2.8% to $97.84.
Government bond yields decline. The spread between BTPs and Bunds falls to 82 basis points, with the Italian ten-year rate at 4% and the German rate at 3.17%. Gold prices fall, dropping 0.8% to $4,060 per ounce.
On Piazza Affari, banks shine. Mediobanca (+2.3%), Banco BPM and Intesa (+2.1%), MPS (+2%), Bper (+1.6%) and Unicredit (+1%) stand out. Moncler and Campari also perform well (+1.1%). At the bottom, Poste and STM (-3.2%) following quarterly results. Selling pressure also on Tim (-2%) and Buzzi (-1.4%).
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