(ANSA) – MILAN, AUGUST 02 – European stock markets sluggish at mid-morning, with the indices affected by the tensions between China and the United States triggered by the visit of the speaker of the House, Nancy Pelosi, to Taiwan, already at the origin of the sharp drops recorded in Asia in the morning. Paris drops 0.5%, Milan 0.6%, Frankfurt 0.7% while London is unchanged. Futures on Wall Street are also down, with investors worried about a new hotbed of tension in an already deteriorated macro environment.
Growth concerns weigh on oil, with wti and brent down by about one percentage point, to 93.1 and 98.9 dollars, on the eve of the OPEC + meeting. On the other hand, gas rose by 2.4% to 205.58 euros, due to fears for supplies from Russia. The BTP-Bund spread was not very smooth, standing at 221 basis points, while the BTP yield dropped to 2.95%, in a context of risk aversion that is pushing investors to buy all Eurozone sovereign bonds.
Energy stocks are running, with BP’s record profits (+ 4.4%) in the quarter in the wake of the rush in gas and oil prices, while semiconductors (-2.4%), clothing (-1.8 %), financial services (-1.6%) and health services (-1.6%).
Diasorin (-3.3%), Interpump (-2.9%), Saipem (-2.4%) and Moncler (-2.4%) slide in Milan. Sluggish Generali (-1.5%) despite accounts higher than expected, due to a weaker than expected solvency ratio, while Leonardo moves against the trend (+ 1.8%). (HANDLE).
Source: Ansa
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