Le European stock exchanges consolidate the mid-session raises, supported by optimism about a possible agreement for the management of the Strait of Hormuz, as investors look ahead to the season of quarterly and upcoming macroeconomic data. Business Square confirms its position among the best performing stocks in the Old Continent: the FTSE MIB gains approximately 0,95%, updates the new intraday all-time high at 54.024 points and then breaks through 54 basis points, consolidating its gains, supported above all by banks and defense stocks. Also doing well Madrid e Paris, further back Frankfurt. Bucking Amsterdam, penalized by the weakness of the technology sector. Wall Street i futures indicate a mixed opening: the Dow Jones rises by 0,17% and the S&P 500 advances by 0,16%, while the Nasdaq drops by 0,41% under the weight of the selling in technology stocks. The index is mainly held back by Sandisk (-10%), after quarterly results that did not convince the market, and AppLovin (-18%), penalized by guidance judged disappointing by investors. Bucking the trend SpaceX, which recovered 4,4% in the pre-market after the 13,6% drop following the quarterly results, as the expiry of the first lock-up period approaches, which could bring over 900 million shares onto the market.
What is holding back the tech sector is the Sell-off which characterized the Asian sitting. In Tokyo the Nikkei closed down 0,93%, weighed down by semiconductors and uncertainty over the talks between the United States and Iran. In China, new regulatory pressure on the insurance sector also weighed. The market also remains highly focused on possible new tariffs that the Trump administration is reportedly evaluating on imported polysilicon, a strategic material for the production of chips and solar panels.
Contrasting macroeconomic data: Italy weak, Germany accelerating
On the macroeconomic front, mixed signals are arriving. Italy la industrial production It fell by 1% in June compared to the previous month, disappointing expectations for a 0,3% increase. On an annual basis, the decline is 0,6%, confirming the difficulties facing the manufacturing sector.
Opposite signal from Germany, Where orders to industry have grown 3,1% in June, exceeding expectations, driven primarily by demand in the machinery and electronics sectors. Year-over-year, the increase is 6,5%, a figure that supports sentiment in European markets.
Piazza Affari rises with Banco Bpm, Leonardo and Avio do well.
Driving the Ftse Mib is Bpm bank, which rose more than 5% after a better-than-expected quarterly report. The bank raised its 2026 net profit guidance, now forecast at over €1,95 billion, and increased its shareholder compensation target for the 2024-2027 period through dividends and buybacks from €6 billion to approximately €7 billion. The CEO Joseph Chestnut he also confirmed that a possible merger with Crédit Agricole Italy remains an option, should the conditions be created to generate value for shareholders. The Italian banking risk remains in the background, while Reuters reports that the Treasury will keep the remaining share in Ps at least until the offer is concluded Intesa Sanpaolo.
Spotlight also on Unicredit (+0,7%) after the accounts of CommerzbankThe German bank closed the best first half of its history, with profits up 40%, but the result does not change the strategic framework for the institution led by Andrea Orcel, who continues to evaluate the opportunities associated with the possible reorganization of the group.
Among the bankers, B for Bank However, it limited its earnings and moved slightly down (-0,36%) after closing the half-year with a record profit of 1,33 billion euros and having revised its guidance upwards.
Defense stocks also shine, Avio (+ 3,97%) and Leonardo (+2,65%) among the best performers on the list, supported by renewed investor interest in the sector. Also doing well Saipem (+ 2,18%), Generali (+ 1,75%) and Inwit (+ 1,75%).
On the downside, it remains under pressure stm (-0,95%), penalised by the weakness of the semiconductor sector after the Asian sell-off, while Prysmian recovered ground during the session. Among the weak stocks also Snam (-0,34%), Lottomatica (-0,29%) And Diasorin (-0,21%).
Among the mid caps it shines Trevi Industrial Finance, up about 2% after the publication of the results. The stock also continues to trade above the takeover price from 4,5 euros per share launched by Webuild, superior even to the competing proposal from Icop.
The other markets
Despite geopolitical tensions, operators favor developments in negotiations between Iran and Oman on the Strait of HormuzAccording to MPS analysts, the main issue concerns the fees Tehran would like to apply to ship transit, while the market awaits possible developments in the broader dialogue between the United States and Iran.
Il Brent remains below $80 a barrel. On the currency market,euro holds gains and moves towards the 1,155 dollar area. returns above $4.300 an ounce and remains at seven-week highs,
Investors' attention is now turned to US labor market dataThe Challenger report is expected today, after 444.604 job cuts were announced from the beginning of the year to June. The real test, however, will be the Friday's Non-Farm Payrolls ReportThe unemployment rate is expected to remain stable at 4,2% or slightly increase to 4,3%, while job creation is expected to be around 80. The data could influence the government's next moves. Federal Reserve on interest rates.
