The financial week begins with a powerful rally in artificial intelligence, which gives new impetus to technology stocks and the Nasdaq, while Europe remains more sluggish. The news of the day is that South Korea has a major investment announced over 576 billion of dollars focused on the "triple axis" of semiconductors, physical AI, and data centers. Added to this are the increasingly aggressive strategies of US big tech companies: the most cited company today is Alphabet, because several sources report that demand for Google's AI capabilities is so high that the company has limited access to some customers, including Meta. This is interpreted by the market as a confirms that investments in AI infrastructure are continuing to grow aggressively.
Tesla, Amazon, and Google soar on the Nasdaq. Bitcoin falls below $60.000.
All this is causing the Nasdaq Composite Index to gain well over 1%, despite the fall of Micron -4,5% and Sandisk -6,3%, but Nvidia gains 1%, SpaceX more than 2%, Google itself over 4%, Tesla 5,3%, Meta almost 3%, Amazon 4%, Palantir 2,6%. Nothing doing for Bitcoin, however, which is sliding downward and hasn't even managed to regain the $60.000 threshold today. Speaking of currencies, the euro attempts a rebound against the US dollar, bringing the exchange rate above 1,14. The BTP Bund spread retraced slightly to 74 basis points, with the yield on the 10-year BTP stable at 3,60%.
Tech also benefits Piazza Affari: Stm performs well. The FTSE MIB limits the damage.
Nearly all European stock markets, however, had a negative session, although Milan wasn't the worst performer: it lost 0,2%, holding onto its 51.000-point level. Overall, European stock markets recovered slightly towards the end: Paris -0,21%, Frankfurt -0,14%, London -0,06%, Madrid -0,45%Amsterdam even gained half a percentage point. On the Milan Stock Exchange, the best performing stock was Avio, up 2,7%, but Stm also stood out, up 1,6%, following the Nasdaq. Buzzi, on the other hand, was down 4,8%, and Stellantis, down 2,7%. Banks tended to be in the red, with Mediobanca, the worst performer, down 1%. Banca Ifis continues to fall by 9% in the Star segment.. To be reported in Paris EssilorLuxottica's latest 3% plunge: this is a decidedly difficult time for the Italian-French group.
Central bankers meet in Sintra to discuss future interest rates.
From today, June 29th, until July 1st 2026 the annual Sintra (Portugal) is taking place ECB Forum on Central Banking, the traditional meeting organized by the European Central Bank which brings together central bank governors, economists and financial operators. Christine Lagarde and Fabio Panetta are expected to speak., of outgoing Federal Reserve Chairman Jerome Powell and newcomer Kevin WarshThis year, markets are paying particular attention to: artificial intelligence and financial stability, the outlook for interest rates, the impact of geopolitical tensions and energy prices on inflation, and the role of the dollar and the evolution of the international monetary system.
Commodities: Oil prices rise slightly above $70
Oil has now stabilized around $70 a barrel, which would be roughly halfway between the price at the beginning of the year and the peak reached during the conflict in Iran. Today, crude oil is expected to rise slightly: WTI Crude Oil returns to $70 a barrelBrent is at $73. European natural gas is making a sharp recovery, rising more than 4% in a single session to nearly €43 per megawatt-hour. Nothing to be done for gold and silver: today the first returns to the $4.000 per ounce mark, while the second is worth just $58 per ounce.
