The start is seen rising this morning on European stock markets, in a good mood due to the probable confirmation of Ursula von der Leyen in the sign of stability, but also in the wake of the good performance of the US and Asian stock markets. On Wall Street in particular, attention has returned to all the technology stocks that had seen a reversal in the last three sessions. Nvidia earns almost 7%, but worth mentioning is the Rivian case, the startup that earns 50% in the afterhours.
The Nasdaq star is back: Nvidia +7%. The Rivian case
Last night the main indices closed mixed, as if in a swing, unlike the previous day, the tech ones rose and the traditional sectors fell. The S&P500 gained 0,39%. Artificial intelligence has returned to interest the market. According to Statista, the industry has grown beyond that 184 billions of dollars in the 2024, a jump of almost 50 billion compared to 2023, and this staggering growth is expected to continue in the coming years, reaching a value of 826 billion dollars in 2030. Yesterday the Nasdaq Composite rose 1,26%, driven by the rebound in several technology stocks. In particular Nvidia è rebounded by +7%, after three sessions in which it had lost 13%, burning almost 500 billion dollars. The Dow Jones instead it lost 0,76%, moving away from recent highs, mainly due to losses recorded in the discretionary and industrial consumption sectors, while the small capitalization index lost 0,3%. The June US consumer confidence index fell to 100,4 from 101,3 the previous month, in line with analysts' forecasts. Fly into the afterhouer the US electric vehicle startup Rivian with an increase of 50%. Volkswagen is ready to invest one billion dollars in the startup and then another 4 billion in 2026.
Today on the US macro agenda there are only data on new home sales (expected 636K units; previously 634K units) and weekly oil inventories (previously -2,55 million barrels). The market will pay particular attention tomorrow to the first quarter GDP data, expected to grow by 1,4%, accelerating from +1,30%. Key data on US inflation are released on Friday, useful for further indications on interest rates. The PCE price index, the Federal Reserve's preferred inflation indicator, is estimated to slow to +2,6% from +2,7%. Today, Wall Street futures are rising slightly. Ten-year Treasury Notes at 4,26%.
Tokyo rises in the wake of the Nasdaq. Chinese stock markets are weak. The worst is Australia
Most Asia-Pacific stocks are moving higher on the back of a rebound in the US tech sector. The Nikkei at +1,20% and the Kospi at +0,5%, supported by gains in all technology companies, in particular chip manufacturers. TSMC, the world's largest contract chip maker, gained 1%, with Taiwan's stock market rising 0,3%.
THEAustralian index ASX 200 is the worst performer in Asia, falling 1% after data showed higher-than-expected inflation in May, fueling fears the Reserve Bank of Australia may raise rates in August. Last week, the central bank, although it did not explicitly mention the possibility of a rate hike, nevertheless took a more aggressive tone than markets had expected.
Le Chinese stocks they are still weak, slowed down by trade tensions with the West. The CSI 300 and Shanghai Composite indexes lost 0,3%. Hong Kong's Hang Seng Index is flat.
Sensex 30 index hits record high: Renewed optimism about the Indian economy is a key driver of stock gains in recent weeks as Indian markets recover following the 2024 general election results.
Bags June 26th: what to follow today
European stock markets are expected to start today's session on the rise, looking at the Eurostoxx50 future which gains 0,62%. The president of the European Commission, Ursula von der Leyen, will receive another mandate. Her team will probably also be confirmed, in the name of stability.
European stock markets yesterday consolidated Monday's robust rebound. Milan's FtseMib lost 0,40%, from +1,6% on Monday. In Paris, CAC 40 -0,6%, as the date of the general elections approaches. The yield of the German Bund is stuck at 2,41% and that of the BTP at 3,92%. The Italy-Germany spread fell to 151 basis points. The 3,16-year French OAT yield fell to 75% and the Bund/OAT spread is at 1,074 basis points. The euro-dollar exchange rate rose to 0,5. Brent and WTI oil rose 2,318%. Gold stops at 61.700 and Bitcoin is at XNUMX, little moved. Germany: the GfK consumer confidence index fell to -21,8 in July from -21.
Pirelli. He launched a five-year sustainability-linked bond (SLB). The stock was priced at 99,666. The orders hoped for 2,6 billion euros.
Unicredit has submitted a bid for Luminor and is now competing with Hungary's largest lender, OTP Bank Nyrt, to acquire the Baltic bank, according to people familiar with the matter cited by Bloomberg.
Mps Bank, Barclays held 18% as of June 5,07, of which 3,5% were long positions, according to a Consob filing. Yesterday the president of the Unipol insurance group, Carlo Cimbri, said that he does not have any plans to purchase MPS shares.
Iren. In the update of the Business Plan it plans to invest 8,2 billion euros over the next seven years and sees dividend growth of 8% until 2027. The Board of Directors has resolved to dismiss the CEO, Paolo Signorini, for just cause. Governance will continue with the current structure, which provides for the main operational delegations to be held by the executive president and vice president, without a CEO, until the current board expires in spring 2025.
Moncler. RBC cuts the target price to 68 euros from 69 euros.
Tenaris Jefferies reduces the target price to 16 euros from 18 euros.
Fincantieri it closed down -9% on the second day of the capital increase from +24% on the first day. The stock option fell 3,7%. The operation ends on July 11th. Rights negotiable until July 5th.
Northern Milan Railways. The Board of Directors of FNM today approved the purchase from the TIM Group of 2.100.000 ordinary shares of Nordcom, corresponding to 42% of the share capital. This operation, explains a note, makes FNM the sole shareholder of Nordcom, increasing its stake to 100%.
lvmh announced the acquisition of Swiza, owner of L'Epée 1839, a prestigious Swiss manufacturer of high-end watches and authentic “art objects” characterized by exceptional mechanisms and complexity.
