
The Nikkei recovers supported by technology and semiconductors, oil falls
AI-generated summary
The benchmark Nikkei recorded sharp declines over the past week before today's recovery.
Jump at the opening for the Tokyo Stock Exchange, supported by the recovery of technology and semiconductor stocks after last week's sharp declines; The drop in oil prices also favored purchases.
At the opening, the Nikkei reference list advanced by 3.13% and rose above 60,000 points. On the exchange rate front, the yen is stable against the dollar, just above 158, and against the euro, at 177.30.

Chile risks closing 2026 with the lowest copper production in the last 23 years: Cochilco estimates an 8.4% drop to around 4.94 million tonnes, the lowest since 2003, despite international prices for the metal being at their highest. The operational difficulties of the main mining companies, the depletion of the deposits and the lack of new projects weigh heavily. Codelco also revised its estimates downwards, forecasting around 1.2 million tonnes in both 2026 and 2027.

The President of Paraguay Pedro Alliana has appointed the economist Jorge Schreiner as head of the Central Bank, with the approval of Parliament which also designated Fernando Rivarola as a member of the board of directors, after the financial and political crisis triggered by the failure of the digital bank Ueno.

The Council of Ministers approved the Bill Decree with a price cap of 58.9 euros per megawatt hour on gas for electricity production for up to 18 months. Minister Pichetto estimates a reduction of around 15 euros per megawatt hour on the price of electricity, currently at 313 euros. Confcommercio predicts savings of up to 10% for businesses, while the Ecco think tank calculates just 1.4 euros per month for an average user.

Credit Agricole aims to tie the knot with Banco BPM after the failure of Unicredit's takeover and the failure of the merger with MPS. The operation represents the last step in a feverish two-year period of reorganization of the Italian banking system, which began with Unicredit's offer on Banco Bpm in November 2024 and continued with Mps' takeover bid for Mediobanca and Intesa Sanpaolo's takeover bid for Mps. The French will have to overcome the Golden Power and the approval of the merger with the whitewash mechanism to avoid a costly takeover bid.

Jindal and Arvedi presented offers for the former Ilva to the extraordinary commissioners. Arvedi, who left the Federacciai consortium, proposes two Esp electric ovens subject to the yes of the institutions and population of Taranto. Unions ask for an urgent meeting with the government.

Credit Agricole proposes a friendly merger with Banco Bpm without a mandatory takeover bid, with a 20% premium, an extraordinary dividend of 1 billion and synergies of 800 million per year. Banco Bpm stock closes up 10%. The operation would create the third Italian banking group.