Stock market: Europe ahead mixed with tech under pressure, Milan -0.98%
Quick Look
- European stock markets close in no particular order.
- The technology sector suffers from uncertainty over investments in artificial intelligence, with significant declines in Milan.
- Government bond yields and gas prices are falling.
AI-generated summary
Why It Matters
The stock market is reacting with uncertainty to the sustainability of investments in the artificial intelligence sector.
The European stock markets confirm the trend in no particular order, as does Wall Street, while uncertainty continues over the stability of investments in artificial intelligence, fueling a strong selling trend that has hit stocks in the technology sector.
The sector index lost 4%.
And the decline in government bond yields, which have grown significantly in the last period, continues. The Italian ten-year bond loses almost 13 basis points to 4.42%, the French OAT -14 basis points to 4.73% while the German ten-year bond loses 10 basis points to 3.35%.
The spread between BTPs and Bunds is just under 107 basis points. Oil mixed with WTI up 1.24% to 96.2 dollars. Brent, on the other hand, lost 0.85% to 105 dollars a barrel. Gas is also flexing with TTF contracts which leave 1.11% on the ground at 86 euros per megawatt hour.
Among the individual markets, Milan lost 0.98% with Technoprobe (-13.4%), StM (-7.9%) and Prysmian (-5.5%) under pressure due to tech in trouble. Frankfurt is marginal at -0.17% while Paris (+0.62%) and London (+1.04%) are positive.
As regards exchange rates, the euro appreciates against the dollar.
The single currency changes hands at 1.1213 on the greenback.
Open Questions
- How long will the correction in the tech sector last?
