Le European stock exchanges Stocks closed the session sharply higher, with investors eyeing an agreement between the US and the EU on tariffs. Sentiment is buoyed by the extension until August 1st granted by Donald Trump to negotiate any negotiations before the customs tariffs take effect, even though the US president reiterated that there will be no further delays. In the background, the threat of tariffs on various sectors, including copper (for which Trump has spoken of a 50% tariff) and pharmaceuticals (with possible tariffs of up to 200%) while also considering the final exit to the European Union: "The EU is now treating us very well," she declared, announcing that an official letter will be sent to Brussels within two days to clarify the extent of the tariffs on European exports. Speaking to the European Council, the President of the European Commission Ursula von der Leyen he said: “We will be stopped, but We prefer a negotiated solution. We are seeking a clear framework from which to continue building. We remain faithful to our principles, defend our interests, continue our work (in the negotiations with the US) in good faith, and prepare for all scenarios."
In this context, European stock markets are travelling at full speed, with Milan leading the charge, led by Unicredit. All the main Eurozone stock markets closed the session with gains above 1%, with London trailing the most. Wall Street is slightly higher, with the Nasdaq which achieves the best performance driven by the new record of Nvidia which today became the first company in the world to exceed 4 trillion in market capitalization.
At Piazza Affari, attention was focused on Unicredit, which is waiting for the TAR ruling on the golden power which will arrive by July 16th, yesterday he made official the increase to 20% of the voting rights in Commerzbank, thus becoming its main shareholder. The German government did not react well, which reiterated its opposition to the deal, announcing that "the state will not sell any more Commerz shares." JPMorgan analysts, meanwhile, have raised their target price to 70 euros per share from 68 euros, confirming their "Overweight" rating. The Italian-French company is also in the spotlight. Essilor Luxottica which in Paris rose by 6% after Meta acquired a stake of approximately 3%, equivalent to an investment of 3 billion eurosThe operation strengthens the collaboration between the two groups, already allies in the development of smart glasses, and could lead to an increase in their stake of up to 5%.
Coming back to Milan, well Azimuth Following Deutsche Bank's upgrade, analysts upgraded the stock from "hold" to "buy." Intesa Sanpaolo and Prysmian with Trump's announcements on copper duties Down Stm, luxury and Leonardo which announced the acquisition of 100% of the Swedish company Axiomatics in order to strengthen its cybersecurity presence.
The spread rises to 92 basis points, slightly increasing 0,76 % compared to the previous session. The Italian XNUMX-year yield stands at 3,55 %.
