Bad day for European markets, weighed down by geopolitical fears and new signs of a slowdown in the global economy. The Ftse Mib slips below 40.000 points, aided by the weakness of banks and cyclical stocks, while theeuro Risale at 1,16 dollars, at its highest since November 2021, thanks to the slowdown in US inflation.
US producer prices rose just 0,1% in May, below expectations, fuelling speculation of a Fed rate cut. Meanwhile, the tensions in the Middle East weigh on sentiment: Israel is reportedly ready for action against Iran, while Washington has evacuated non-essential personnel from its embassy in Iraq. New US-Iran talks are expected on June 15.
European stock markets closed mixed: Frankfurt lost 0,71%, Amsterdam 0,53%, Madrid 0,31%, while Paris e London they marked a slight increase, of 0,02% and 0,23% respectively.
The Wall Street travels in no particular order: DJ -0,11%, S&P +0,15% and Nasdaq +0,9%. Boeing drops by more than 5% after the plane crash flight departed from India and headed to London, while Oracle infrastructures flies (+10%) thanks to revenues and profits above expectations and strong growth in the cloud.
A Business Square the Ftse Mib loses -0,58%, weighed down by luxury (cucinelli e Moncler) and the cars (Stellantis) held back by fears of new US tariffs. Focus on the banking risk: Mediobanca in view of the June 16 meeting on the takeover bid by Mps on Banca Generali. The institute has also filed a complaint with the Prosecutor's Office on an alleged concerted action between Caltagirone and Delfin. Meanwhile Ps places covered bond for 750 million. Meanwhile the Lazio Regional Administrative Court agrees with Orcel and rejects Banco Bpm's appeal on the suspension of the takeover bid Unicredit.
The oil sector is bucking the trend, with Eni Featured. Down Pirelli On the day of the meeting, the budget was approved despite the opposing vote of the Chinese shareholder Sinochem.
Lo spread BTp-Bund falls to 94 points, with the yield on the Italian 3,41-year at +XNUMX%.
Crude oil retraces after yesterday's rally, held back by geopolitical fears. Gold little moved.
