Le European stock exchanges they archive the first session of July with a slight slowdown After the sharp rise in the first half of the year, which saw the FTSE MIB gain approximately 15%, profit-taking and volatility are once again taking center stage, despite the Eurozone inflation figure falling to 2,8% in June, which has reinforced expectations of a less restrictive monetary policy from the ECB. Milan thus closes at -0,15%, while Paris loses 0,79%, Madrid 0,34% and London 0,18%. In contrast to the trend Frankfurt, which ended the session at +0,29%.
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On the macro and geopolitical front, the market continues to move between the unknowns linked to the Middle East and the negotiations between the United States and Iran in Doha, while the Petroleum It remains volatile and slightly down (Brent in the $71 area). Wall Street also falls in the background, entering negative territory at the start of the new month after a very solid first half, driven primarily by technology and semiconductors.
The catalysts of the day were the messages that came from the meeting of Sintra of central banks. The Chairman of the Fed, Kevin Warsh, reaffirmed the full independence of the American central bank and the centrality of interest rates as the primary instrument of monetary policy, supporting a more data-driven approach from the ECB. Market participants also remain focused on the possibility that the Fed will maintain a restrictive stance in the fight against inflation.
At Piazza Affari they stand out nexi (+ 6,44%), Amplifon (+ 4,09%), Leonardo (+ 3,91%) and Unipol (+3,89%), while they slide Saipem (-3,49%), stm (-3,33%), Eni (-2,62%) And Snam (-2,06%). The sector remains influenced by interest rate expectations and the evolving macroeconomic picture. Also falling are towers di Ray Way after the failed wedding with Hey TowersThe broadcast company's stock price is falling sharply. Specifically, according to a statement from Rai – the company's largest shareholder with 65% of the shares – the deadline for the merger between Rai Way and Ei Towers expired overnight without the parties being able to identify a "shared negotiating basis suitable for the operation to proceed." spread BTp-Bund closed up at 79 basis points, with the yield on the Italian 10-year bond at 3,66%.
In the macro-financial framework, the dollar remains strong while the euro remains just above the 1,14 area, with the yen still weak at multi-decade lows. Thegold retreats and slips below $4.000 an ounce.
