The start of the new quarter is uncertain. The stock market rally has lost momentum, and investors are cooling their engines after the surge, taking home some gains. A super dollar ski yen and won and penalizes the precious The focus today is on the Central Banking Forum a Sintra, in Portugal where the president of the Federal Reserve Kevin will speak warsh, the president of the European Central Bank Christine Lagarde, the governor of the Bank of England Andrew Bailey and Bank of Canada Governor Tiff MacklemStock index futures indicate that Asian stock market losses will spread to Europe and the United States.
The talks between United States and Iran They are at a standstill. According to reports, President Donald Trump's son-in-law, Jared Kushner, and envoy Steve Witkoff apparently arrived in Doha for high-level meetings, only to be left in the lurch by Tehran. A particularly thorny and contentious issue is the Strait of Hormuz and the possibility of Iran imposing a transit toll, and it is far from clear how the issue can be resolved. On June 17, Iran and the United States signed a memorandum of understanding aimed at ending the four-month-old conflict.
Wall Street rose yesterday. Energy and finance are good alternatives to tech. Keep an eye on the Bending Spoons IPO.
IERI (Yesterday) Wall Street closed on the rise, closing a quarter of record: Dow Jones, which closed at +0,3%, marked the biggest quarterly increase since 2022, while S & P 500 and nasdaq, Stocks, which closed the session up 0,8% and 1,5% respectively, posted their biggest quarterly gains since 2020, thanks to investor optimism about economic growth and corporate earnings, despite the conflict in the Middle East. Over the quarter, the Dow Jones gained approximately 13%, the S&P 500 14,9%, and the Nasdaq 21,4%.
The index of the titles of the semiconductors closed the day with a rise of 3,9%. After the markets closed, shares of Nike lost about 2% after the release of quarterly results. Investors remain concerned about high valuations in the technology sector and the continued heavy spending on artificial intelligence by companies in the sector. According to strategists at Bank of America, cyclical and value-oriented sectors, such as energetic e financial, could represent the best choice for the second half of the year.
Bending spoons, owner of the video platform Vimeo and the Internet services company Aol, has set the price of its Ipo in the United States to $ 29 per share, Bending Spoons surpassed its target, raising $1,68 billion in a rare IPO for the software sector, which is grappling with the turmoil caused by artificial intelligence. The Italian software company and its existing shareholders sold approximately 58 million shares, valuing Bending Spoons at approximately $18,4 billion based on the outstanding shares reported in its filings. The listing is among the largest IPOs for a European company.
Attention remains on the trajectory of Fed rates ahead of Chairman Kevin's speech. warsh Today in Portugal. According to data collected by LSEG, market participants expect at least one rate hike by the Federal Reserve by the end of 2026. Officials will hold their next monetary policy meeting at the end of July, after voting unanimously to leave rates unchanged at last month's meeting, the first chaired by Warsh.
Yesterday i US Treasury yields Ten-year yields jumped nearly 9 basis points in a late-day sell-off for no apparent reason. This could be investors bracing for a positive surprise in tomorrow's employment data, further reducing the likelihood of a Federal Reserve rate hike. A rate hike in September is projected with a probability of 67% to 88%.
Asia cools its engines after the rally. The Kospi leads profit-taking.
Il rally two-day stock market has lost momentum in Asia, with investors showing caution after growth in chipmakers and other technology stocks helped the sector post its best quarter in 17 years.
And 'the Korea leads declines, as investors are cashing in on profits after one of the best quarterly performances in years. Kospi It rose nearly 65% in the three months to June and is now down 2%, despite trade data highlighting the strength of the country's exports: in June, they increased by 70,9% year-on-year and imports by 30,1%, while the trade surplus widened to $36,15 billion. Sk Hynix loses 2,75%, Samsung loses 4,80%.
In Japan, the Nikkei 225 rose more than 36% in the quarter and is up 0,6% today after a series of positive economic data that boosted confidence in the country's business outlook.Tankan investigation Bank of Japan showed an improvement in sentiment among large manufacturing companies In the second quarter, the final manufacturing PMI from Au Jibun Bank declined slightly but remained firmly in expansionary territory and above the May level. Bank of America ha raised their goals year-end gains for the Nikkei 225 and Topix, citing stronger-than-expected demand for artificial intelligence and the possibility of Hormuz becoming a stable safe haven for energy commodities again.
In China Stocks rose after official data showed manufacturing activity remained in expansion territory in June. The Shanghai Shenzhen CSI 300 rose 0,4%, while the Shanghai Composite gained 1%. Hong Kong markets were closed for a public holiday.
Il dollar strengthened against all other G10 currencies. On the contrary, the yen weakened 0,1% to 162,77 per dollar, after hitting a 40-year low this week. Strategists are now increasingly pointing to share 163 and beyond as the next levels to monitor, arguing that the finance ministry could tolerate a weaker currency than was the case during its intervention campaign in 2024.
The South Korean won slipped to its lowest level since the global financial crisis, weighed down by factors such as the selling of local shares by foreign investors. The won lost as much as 0,6% to 1.559,10 per dollar, after hitting 1.562,20 last month, a level not seen since March 2009.
The fell 0,6% to around $3.980 an ounce, amid speculation that the central bank might raise rates. Fed, which reduce the attractiveness of the non-interest-bearing precious metal. Also silver e Platinum they recorded decreases.
European stock markets opened little changed. At the Milan Stock Exchange, eyes were on Saipem, Snam, and Rai Way.
European stock markets are expected to open little changed today: the Eurostoxx50 future is at -0,1%.
ItalgasSantander raises its bond to 11 euros, from 10,4.
Saipem – UBS raises its target price to 4,9 euros, up from 4,70 euros.
Snam aims to strengthen its liquefied natural gas (LNG) business and simplify the control chain, it writes this morning M.F. Snam LNG will incorporate OLT Offshore LNG Toscana and the group's infrastructure development company Greenture, thus bringing together in the same vehicle the physical assets of regasification and LNG refueling points for transport, adds the newspaper.
Juventus UEFA has fined Juventus for violating financial sustainability regulations in the 2025-26 season, imposing a €20 million fine—€14 million of which is conditional—as part of a three-year agreement requiring full compliance by the end of the 2028-29 season. Juventus has also been restricted from registering new players on List A for UEFA competitions, which allows a maximum of 25 players.
PirelliThe board of directors appointed Marco Tronchetti Provera as executive chairman and Giovanni Tronchetti Provera as vice chairman by a majority vote. The new board was informed of a multi-year investment plan in the United States of approximately $1 billion to $1,2 billion, which had already been reviewed during the previous term.
Rai Way. Major shareholders failed to reach an agreement with EI Towers on the terms of a merger by a June 30 deadline.
