Weak European stock markets, focus on tensions in the Middle East and rise in oil and gas

European stock markets move sluggishly after the start of Wall Street. The markets' attention is focused on geopolitical tensions, particularly in the Middle East with the Strait of Hormuz still closed. A scenario that fuels the rush of oil and gas while tensions on government bonds ease. On the currency market the euro rises to 1.1684 against the dollar.

The Stoxx 600 index lost 0.3%. Frankfurt and Paris (-0.5%), London (-0.3%), Madrid (-0.2%) fell. Positive Milan (+0.1%). The main price lists are weighed down by luxury (-1.7%) and cars (-0.5%). The technology sector (-0.6%) and the financial sector (-0.2%) also performed poorly. Energy is tonic (+1%), with the price of oil rising. The WTI gains 2.5% to 87.99 dollars a barrel and Brent stands at 93.99 dollars (+2.6%).

Utilities increased (+0.2%), with the price of gas rising by 2.7% to 65.12 euros per megawatt hour.

Government bond yields showed little change. The spread between BTPs and Bunds is stable at 80 basis points, with the Italian 10-year rate at 4.06% and the German one at 3.25%. Gold fell slightly to 4,485 dollars per ounce (-0.1%).

In Piazza Affari, the spotlight is on banking risk stocks while the Board of Directors of MPS (+0.4%) is preparing offers on Banco Bpm (+0.2%) and Banca Generali (+0.01%), to resist Intesa's 30.6 billion takeover bid (+1%). Generali made little move (-0.07%), Unipol did poorly (-1.5%).