European markets steady as earnings and tech take focus; Prysmian leads Milan gains

ilsole24ore.com (Italian) —

European stock markets traded cautiously higher on Wednesday following recent sell-offs, with investors focused on corporate earnings and tech stocks. In Milan, Prysmian stood out with gains. Oil prices rose again due to Middle East tensions, while the Italian risk premium widened to 114 points with a yield of 4.55%. The euro weakened toward 1.12 dollars. Asian markets were mixed, with Tokyo's Nikkei up over one percent while Chinese stocks fell. Wall Street closed mixed on Tuesday, supported by positive earnings and lower oil prices. London's FTSE 100 lagged as UK inflation rose to 3.5% annually in September. Investors remain concerned about the sustainability of the AI trend, focusing on balance sheet strength and debt levels of related companies. In Milan, tech stocks rebounded with Technoprobe leading gains, while oil stocks like Eni and Saipem rose on crude price increases. Banks were weak, and Nexi fell.


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