The Tokyo Stock Exchange is closed today for a holiday.
On the U.S. macroeconomic front, after being postponed due to last week's brief government shutdown in the United States, the eagerly awaited January employment data will be released early this afternoon, crucial for insights into the Federal Reserve's next moves.
Around 10 a.m., the Ftse Mib is down more than 1%.
Asset management is sharply lower across the board. The worst performer is BANCA GENERALI, falling more than 8%, followed by FINECOBANK at -6.6% and AZIMUT at -5.3%. A trader notes that the sector is under pressure following last night's announcement that Altruist, a U.S. startup specializing in wealth management, has launched AI-based tax planning features. Brokerage stocks plummeted on Wall Street. Altruist stated that its Hazel platform automates tax planning in a matter of minutes, reducing advisors' reliance on traditional brokerage support.
Banks are also sharply down, with the sector index dropping 2%. Among the large caps, UNICREDIT is down 1.3% and INTESA more than 2%.
Meanwhile, FERRARI continues its positive momentum, rising 1.4% after yesterday's rally following the release of its quarterly results.
Finally, TIM is performing well, up 1.3% and reaching new highs since July 2028 at 0.6294 euros.
(Giancarlo Navach, editing by Stefano Bernabei)
