European stock markets closed with negative trends after a weak session. Milan lost 0.64%, Paris 0.67%, Frankfurt 0.22%, and London 0.09%. On the contrary, Saipem rallied 3.99% on the Italian stock exchange, after securing three new contracts worth $3.7 billion (€3.41 billion) in Angola for Totalenergies. Investors are awaiting the minutes of the latest Federal Reserve meeting on Wednesday, hoping for more details on future interest rate cuts.
Wall Street experienced a slight increase, as recent American data showed a decrease in price hikes, fueling hopes that the central bank may cut interest rates a couple of times this year. Some are looking at July or November as possibilities for the first reduction, although caution prevails. The rally in commodities, particularly metals, continues. Strong speculative forces driven by geopolitical uncertainty, and growing demand from technology and artificial intelligence are influencing prices. Copper reached $11,000 per ton today before dropping to $10,900, while gold is above $2,427 per ounce.
In Europe, negative market trends persisted with Milan, Paris, Frankfurt, and London closing down. Saipem bucked the trend, gaining 3.99% following the acquisition of three new contracts worth $3.7 billion in Angola. Investors are eager for more information on potential interest rate cuts from the Federal Reserve meeting minutes to be released on Wednesday. On Wall Street, a slight increase was seen as recent data indicated a slowing of price increases, leading to hopes for multiple interest rate cuts this year, with July or November mentioned as possible initial reduction dates.
The commodity rally, especially in metals, is fueled by both speculative forces and rapidly increasing demand from technological and AI industries. Copper briefly touched $11,000 per ton before falling to $10,900, while gold remains strong above $2,427 per ounce. Market uncertainty persists, with geopolitical factors contributing to speculative trading. Despite the positive outlook for potential interest rate cuts, caution prevails among investors. The upcoming release of the Federal Reserve meeting minutes will provide more clarity on the future direction of monetary policy and its impact on the markets.
Europe’s stock markets closed with negative results, mirroring a weak session. Milan, Paris, Frankfurt, and London all saw declines. Saipem, however, defied the trend with a 3.99% increase following the announcement of new contracts in Angola. Investors are looking ahead to the Federal Reserve meeting minutes scheduled for Wednesday, hoping for insights on future interest rate cuts. Wall Street saw a modest increase, driven by indications of a slowdown in price hikes and the possibility of rate cuts later in the year.
The rally in commodities, particularly metals, continues, driven by speculation and growing demand from tech and AI industries. Copper briefly reached $11,000 per ton before retreating to $10,900, while gold remains strong above $2,427 per ounce. Market uncertainty persists due to geopolitical issues, leading to cautious trading. Despite hopes for interest rate cuts, investors remain wary. The upcoming Federal Reserve meeting minutes will provide further guidance on monetary policy direction and its implications for the markets.
