Market recap

The week just ended with markets under multiple pressures: uncertain macroeconomic data, closely monitored corporate earnings, trade tensions, and a marked rotation into safe-haven assets. From January 19th to 23rd, the market was poised between risk and protection, with news ranging from corporate data to geopolitical risks and sector dynamics. Italian banks and profits under scrutiny Among the week's top news, the Italian banking sector has attracted analysts' attention

The week unfolded on a delicate balance, driven more by news than by linear trends. Markets alternated between periods of seeking protection and sudden returns to risk appetite, in a context dominated by institutional tensions in the United States, geopolitical uncertainty, and conflicting signals from cyclical and technology sectors. Precious metals at the center: from hedge to strategic pillar The dominant theme was undoubtedly that of safe haven assets. Gold continued

This week promises to be particularly busy with macroeconomic events that can shape financial market sentiment. As investors continue to navigate expectations of a controlled slowdown and uncertainty about the timing of central bank moves, attention will be focused on inflation, industrial production, and the labor market, with an agenda spanning the United States, the euro area, and the United Kingdom. UK: GDP weak and industry still under pressure The United Kingdom wil

The week opened with a decisive return of geopolitics to the forefront of markets, following the US intervention in Venezuela and the ouster of Nicolás Maduro. The initial reaction was seen primarily in energy and precious metals, while global equities demonstrated a faster-than-expected ability to absorb the shock. As the trading sessions progressed, investors' attention shifted to artificial intelligence technology, the European banking crisis, and defense spending prospect

The coming week promises to be a particularly intense one for financial markets, with a significant concentration of high- and medium-level macroeconomic data capable of influencing investor sentiment. Attention will remain primarily focused on the United States, where the labor market and confidence indicators will provide key insights into the state of the economy and the outlook for monetary policy. However, there will also be significant insights from Europe and Asia, in

The week between the end of the year and the start of the new ended with a market more about news than direction, due to reduced liquidity and often amplified movements. The common thread, however, is clear: in 2026, investors will continue to weigh two variables above all else: the trajectory of interest rates and the stability of growth. In this context, in Milan, corporate dossiers set the pace, while in the United States, the market once again looks to the Federal Reserve

The coming week comes at a delicate time for financial markets, caught between a slowdown in global economic activity, still conflicting signals on inflation, and the wait to see when and how deeply major central banks will be able to ease monetary policy. After a year-end characterized by low volumes and a climate still favorable for risky assets, the macro agenda in the coming days could bring attention back to fundamentals, with a series of data capable of impacting sent

A year-end session, with low volumes and movements often more responsive to news than structural flows: in this context, markets alternated between risk-seeking and protection-seeking phases. In Milan, attention focused on individual company stories, while interest rates remained dominant in the background, with Wall Street maintaining a measured pace and commodities still playing a leading role. In Europe, Piazza Affari closed with the FTSE MIB at 44,606, confirming a resi

The coming week promises to be packed with macroeconomic events that could impact market sentiment, amid selective volatility and a fragile balance between growth expectations and continued restrictive monetary policies. Investors' attention will be focused primarily on US data related to inflation and growth, while also monitoring signals from Asia and Europe, which are useful for assessing the strength of the global economic cycle. Asia: Monetary Policies and First Signs

The financial week closed with a mix of corporate news, macroeconomic data, and monetary policy decisions that kept investors' attention high. From stock market movements to geopolitical tensions, including central banks and slowing inflation in the United States, markets experienced days of strong sector rotation and selective volatility. In terms of indices, Piazza Affari closed the week with the FTSE MIB at around 44,750 points, up approximately 2.9% on the week, while i

Next week promises to be particularly busy with macroeconomic events that could impact financial markets. Market participants will be focusing on monetary policy decisions, inflation data, and leading indicators of the global economy, in a context that remains fragile and characterized by strong divergences between the main economic regions. The macro context: a slowdown yes, but not uniform In recent months, mixed signals have emerged. On the one hand, inflation appears to

The financial week that ends today had a clear underlying theme: markets forced to navigate unstable terrain, where every positive sign was counterbalanced by new sources of uncertainty. Expected but inconclusive monetary policy decisions, persistent geopolitical tensions, and increasingly pronounced movements in raw materials have made the environment difficult to interpret with a single lens. Rather than a matter of direction, it has been a matter of an often precarious bal

Over the past ten days, investors have experienced a veritable "saddlebag": a alternating wave of fear and relief, with stock markets first falling sharply, then rising just as quickly. The tension arose from an explosive combination—the fear of a new tech bubble, the US government shutdown, and the rekindling of international conflicts—but it has since dissipated partly thanks to a political clearing in the United States and new expectations of looser monetary policy. Stocks

In recent days, financial markets have experienced a phase that, despite the uncertainties, shows signs of consolidation. Several parallel threads are intertwined: renewed confidence in stocks, the strengthening of geopolitical measures toward Russia, the cautious but not alarmist tone of major central bankers, the decline of gold (and silver) as safe-haven assets, and the return of the US dollar after a period of weakness. Let's look at "the story behind the numbers." 1. Sol

Today sent a signal to the markets: a desire for risk... albeit cautiously. Stocks, oil, industrial metals, and even safe-haven assets like gold and silver closed higher, driven by an unusual mix of geopolitics, hopes for a truce, and new energy sanctions. This fragile balance reveals a lot about investors' mood: ready to believe in a détente, but still wary of any potential repercussions. All risk indicators are rising It was a broad-based rebound for risk-on assets . In the

Since August, government bonds have recovered in value, while global demand has weakened. Are investors sensing a slowdown or simply hedging against risks? In recent months, the bond market has undergone a transformation. After a long period dominated by high yields and depressed prices, bonds are returning to the spotlight—both in the United States, where the rally began in the summer, and in Europe, where the trend has continued since early October. It's a resurgence that r

Since the beginning of August, oil prices have steadily and sharply declined. Brent crude dropped from around $74 a barrel on August 1st to just below $62 in the second week of October: a decline of around 16% in two months . US WTI crude followed a similar trend, from $70 to around $57.70 over the same period. Only at the beginning of the summer did the market seem headed for a steady recovery, supported by OPEC+ cuts and forecasts of robust demand. Within a few weeks, howev

The day was marked by sharp fluctuations on international markets: after a negative morning dominated by US-China tensions, stocks recovered in the late afternoon, returning to their previous close levels. The decline was more persistent in commodities, rates, and cryptocurrencies, while gold remained the main defensive haven. 1. Stocks: morning crash, evening recovery Trade tensions triggered widespread selling in the early part of the session. In the US, the S&P 500 fell mo

Next week will be one of the most important of the autumn for European markets. New data on euro area harmonized inflation (HICP) and German national inflation will be published, two crucial indicators for understanding whether the recent recovery in prices is becoming a stable trend. In parallel, Christine Lagarde and several members of the Bundesbank will speak, and their comments could significantly shape expectations on rates and the euro. The wait: prices rising and the

Between September 17 and early October 2025 , the dollar regained strength after months of weakening. The DXY index, which measures the greenback's value against major world currencies, rose from 96.2 points to 99.5 , an increase of about 3.4% in three weeks. This sharp movement occurred just as the Federal Reserve began its rate cuts . An apparent contradiction? Only superficially. A planned cut, and already "priced" The Fed did indeed lower the cost of money, but it didn't