European stock markets moved higher on hopes that diplomacy could resume in the conflict between Iran and the United States. Milan gained 1.2%, Paris rose 1%, Frankfurt added 0.7% and London advanced 0.3%.
Wall Street also opened positively on the eve of the midterm elections, with the Nasdaq up 1.3% and the Dow Jones rising 1.2%.
Iranian Supreme Leader Mojtaba Khamenei’s approval of talks with Washington, together with US President Donald Trump’s willingness to resume negotiations, reduced concerns about a renewed escalation. Energy prices reacted sharply: oil fell 6.6%, with Brent at $97.3 a barrel and West Texas Intermediate at $105.9. Gas prices dropped 8.5% to €95.1 per megawatt-hour.
Bond markets strengthened as investors anticipated a possible slowdown in inflation. The yield on Italy’s 10-year BTP fell by more than eight basis points to 4.42%, while the spread over the German Bund narrowed to 113 points.
On Milan’s stock exchange, Buzzi led gains with a 5.9% rise, followed by STMicroelectronics at 4.3%. Moncler and Campari each gained 3.9%, Finecobank rose 3% and Amplifon added 2.7%. Energy stocks moved in the opposite direction, with Eni down 2.8% and Tenaris losing 1.3% as crude prices slumped.
Sources: ANSA Economia.