Europe in the red, fears over AI are affecting software and asset management
European stock markets in the red at the end of the morning, with sales concentrating on the software and managed savings sector, where the risks of a disarticulation of the business by new artificial intelligence tools are once again making themselves felt. Milan leads the declines (-0.9%), weighed down by sales in the financial sector, ahead of Paris (-0.5%), and Frankfurt (-0.4%) while the energy and mining sectors keep London afloat (+0.4%). Futures on Wall Street are uncertain, with investors awaiting data on the labor market to adjust their bets on the Fed’s rate cut, fueled yesterday by below-expected retail sales.
Managed savings are under pressure. The sales were triggered by Altruist’s announcement of the launch of a new tax planning service on its artificial intelligence platform, Hazel, and available to companies that want to use it independently of the custody of their assets with Altruist. In Piazza Affari, managed savings stocks are sinking, led by Fineco (-7.7%), Banca Generali (-7.2%), Mediolanum (-6.4%) and Azimut (-4.4%), but all financials are doing badly, from Mps (-3.1%) to Nexi (-2.7%), whose target price was cut by Equita, from Intesa (-2.2%) to Generali (-2.1%), up to Mediobanca (-1.9%).
date:2026-02-11 16:51:00
Related reading