The joint military attack by the United States and Israel against Iran which began over the weekend is also having heavy impacts on the stock markets on today’s reopening day. Asian markets closed sharply lower as fears grow over the damage to international trade with the closure of the Strait of Hormuz. A circumstance that caused the jump in oil prices. Tokyo is in the red (-1.35%). On the currency markets, the yen depreciates again against the dollar, to a level of 156.80, and is stable against the euro just above 184. Hong Kong (-2%), Shenzhen (-0.6%), Seoul (-1%) and Mumbai (-1.8%) are down. In contrast, Shanghai (+0.5%). European stock markets are also affected by the crisis in the Middle East: they opened in the red and are continuing negative: Madrid (-2.4%) and Frankfurt (-2%) are heavy. Milan (-1.9%), Paris (-1.8%), London (-1%) also did poorly. The main European price lists are weighed down by sales which have hit luxury goods (-3.6%), cars (-3.3%), banks (-3.2%) and insurance (-1.7%). The war also affects airlines (-3.6%) and tourism (-2.8%). The defense sector is also decreasing (-0.2%). Utilities are weak (-0.5%), with the price of gas reaching 44.2 euros per megawatt hour (+39%).
Milan opens with a decline
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The Milan Stock Exchange, together with the other European markets, opened in free fall due to the effects of the crisis in the Middle East. The Ftse Mib leaves 1.9% on the ground. Stellantis suffers in Piazza Affari (-5.5%). Banks also performed poorly with Bper (-3.9%) and insurance companies with Unipol (-3.7%). Cucinelli leaves 3.8% on the ground. Positive session for Eni (+3.5%), Leonardo (+3.4%), Italgas (+1.7%). Government bond yields rose slightly. The spread between BTPs and Bunds rises to 64 points, with the Italian ten-year rate at 3.30% and the German one at 2.66%.
Oil is flying
Oil prices skyrocket at the start of the week. After reaching a maximum increase of 13%, Brent stood at 79.16 dollars. The WTI rises to 72.66 dollars a barrel. This morning in Italy there was a sharp increase in fuel prices. Diesel fuel is at its highest level since 28 February 2025. Staffetta Quotidiana specifies, however, that “it is only the beginning”: the increases do not take into account today’s jump in oil prices, so “the effects on prices at the pump will be seen starting tomorrow”. Gold moved little, gaining 0.09% to 5,394 dollars an ounce. Silver stands at 95.25 dollars (-0.02%).
Wall Street futures are in the red
Wall Street futures are bad as we look at the impacts on the economy of the crisis in the Middle East with the joint attack by the USA and Israel on Iran. Futures leave 1 percent on the ground. Meanwhile, the dollar is strengthening against the main international currencies.
