Stock Market, Europe Believes in Truce in Iran: Stocks Rise, Oil and Gas Down

The markets are giving confidence to the truce. Or rather, they are trying to believe that the ceasefire between Israel and Iran announced last night by US President Donald Trump can really last, despite accusations between the parties - and by Trump himself - of having violated the truce. The markets have seen a return to risk appetite since the very beginning: stocks are up, oil is down (-4.8%) and safe haven assets, such as the dollar and gold (-1.6%).

At the end of the day, without violent upheavals, Milan closes the session with a rise in the Ftse Mib of 1.63% (with the banking risk that returns to the fore), similar increases in the rest of Europe: confidence in the truce yes, but without euphoria. Meanwhile, the market takes the blow from the president of the Fed Jerome Powell who, warning of the dangers deriving from tariffs on prices, says that the central bank remains firm on rates because it foresees an increase in inflation.

At Piazza Affari, oil stocks slide with the drop in crude oil (Eni the worst at -2.5%), banks in the foreground: Mps soars 7%, followed by Mediobanca (+4.1%) while the official green light from the ECB is awaited for the takeover bid on Piazzetta Cuccia. Other banking stocks run. On the currency market, the dollar slides with the return of risk appetite and the euro updates its highs since October 2021, worth 1.1620 dollars (yesterday at 1.154) and 168.32 yen (168.99), while the dollar/yen cross is at 144.85 (146.35). Bitcoin recovers ground and rises 4% to 105,700 dollars. The easing on the energy front also affects gas, which sinks 12.4% to 35.48 euros per megawatt hour. Finally, gold also deflated: the spot contract fell by 1.65% to settle at $3,313 an ounce.