The first session of August continues in a favorable climate on European stock markets, supported by the signs of easing between Washington and Tehran following Donald Trump's decision to suspend the planned attack on Iran. Caution remains high, however, as the Iranian Foreign Ministry clarified that "no negotiations are currently underway with the United States," dampening expectations for an immediate resumption of dialogue. The prospect of an agreement that would also guarantee the transit of energy supplies through the Strait of Hormuz has nevertheless reduced fears of supply disruptions and pushed crude oil prices down. wtf loses almost 6% and falls to 79,7 dollars a barrel, while the Brent backs off by more than 7% towards the $83 level. The market is also being weighed down by OPEC+'s decision to increase production by another 188 barrels per day starting in September, the sixth consecutive monthly increase.
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La oil descent It eases fears of renewed inflationary pressures, but penalizes energy companies. Investors are meanwhile beginning to shift their attention to the July U.S. labor market report, due Friday and considered crucial for assessing the Federal Reserve's next moves. Further indications will also come from the earnings season. The Federal Reserve's financial statements are due this evening. Palantir, the first results will arrive tomorrow SpaceX after the listing, in addition to the accounts of European groups such as Hsbc e Novo Nordisk.
On the macroeconomic front, the Eurozone manufacturing PMI remained in expansionary territory. The index stood at 51,9 in July, slightly below the preliminary estimate of 52 but up from 51,4 in June.
Milan gains nearly 1%, Prysmian changes direction
Halfway through the session Frankfurt leads the riseEuropeans with a progress of 1,51%, followed by Paris, up 1,32%. Madrid advances by 0,75%, while London remains substantially unchanged. At Piazza Affari the Ftse Mib gains 0,96% and reaches 52.673 points.
Leading the Milanese price list is BRUNELLO CUCINELLI with a rise of 3,65%. Also doing well Avio, up 3,10%, Diasorin by 2,95% e Classic Ferrari for sale by 2,94%. The diagnostics group's shares benefited from analyst upgrades following solid results released on Friday, while Ferrari was supported by Berenberg's improved rating.
The financial sector remains positive, with Unipol on the rise after the strong acceleration recorded at the opening. They are also advancing Bpm bank e Bper, while Ps remains just above parity in the midst of rumors about the future reorganization of the Italian banking sector.
Prysmian instead changes direction after a brilliant start, it slips by 3%. The acquisition of the US company Atkore, initially welcomed, leaves room for discussion regarding the transaction's financial structure. The group's CFO indicated that approximately 60% of the purchase will be financed through debt.
Among the worst titles there is also Eni, which lost 1,52%, affected by the collapse in oil prices. Also down Leonardo, -0,96% and stm, -1,08%. The Mid Cap highlights Desio Bank, up 6,27%, followed by Reply, Danieli, and Credem. At the bottom of the list Comer Industries it dropped 3,17%.
EasyJet and Renault are on the rise, while Nissan returns to profit.
In London EasyJet gains about 2,5% after Castlelake's deadline extended to August 7 to formalize a potential offer. The new deadline was aligned with that set for Apollo Global Management and keeps the competition for control of the British airline open. Castlelake had initially offered 6,90 pounds per share, for a total value of close to 5 billion pounds. Apollo subsequently raised the offer with a 7,15 pound per share offer, equivalent to approximately 5,7 billion pounds. The two funds must submit a formal proposal by Friday or withdraw from the competition.
Renault accelerates in Paris, which rose 4,5% following the July registration figures. Group sales increased 9,5% to 30.241 units, with a market share of 24,8%. The Renault brand recorded 22% growth, while Alpine more than doubled its registrations. Dacia declined 11%. The French automotive market closed July with an overall increase in registrations of 9%, driven primarily by electric vehicles, which grew 127% and now accounted for 35% of new registrations.
Meanwhile, encouraging signals are coming from Japan for Nissan.Nissan returned to quarterly profit after two years. For the March-June period, the automaker posted a net profit of 3,76 billion yen, compared to a loss of 115,76 billion yen in the same quarter of the previous year. Revenue rose 9,5% to 2.964 billion yen. Nissan confirmed its forecast for the fiscal year ending in March 2027, while reducing its global sales forecast from 3,3 million to 3,15 million vehicles. The group is also continuing its cost-cutting plan, which also includes cutting 20 jobs by March 2028.
I US futures point to a positive opening for Wall StreetThe Dow Jones Industrial Average is up 0,93%, the S&P 500 futures are up 0,56%, and the Nasdaq futures are up 0,32%. The Russell 2000 is also up 0,73%.
On the currency market the euro remains stable against the dollarwhile its yen strengthens after lcoordinated intervention conducted by the United States and Japan to support the Japanese currency. Tokyo also left open the possibility of new joint operations should strong exchange rate tensions re-emerge.gold records a slight rise by 0,35%. The spread between BTPs and Bunds fell to 80 basis points, with the yield on the 10-year Italian bond at 3,95%.
