Le European stock exchanges they close with a strong increase, supported by data on US labor market which dampened expectations of further rate hikes by the Federal Reserve. In the United States, 57.000 jobs were created, below expectations, while the unemployment rate fell to 4,2%, reinforcing the case for a more prudent monetary policy.
In Sintra, the president of the Fed Kevin Warsh reiterated that the priority remains price stability and the return of inflation to 2%, also underlining the need for preserve the independence of the central bank and hypothesizing a possible overshoot of forward guidance. On the European front, the ECB president Christine Lagarde He ruled out the possibility of stagflation in the euro area, citing the solidity of the labor market and confirming a firm stance on inflation.
In this context, European stock markets maintain a clearly positive tone: Milan rose 1,6% above 52.000 points, Paris rose 1,65%, and Frankfurt even climbed 2%. London gained 1,77%. Contrasted Wall Street. In Asia A negative session closed: the Nikkei 225 lost 2,47% to 68.733,15 points, penalised by profit-taking on technology and semiconductor stocks following the announcement of Meta on a new cloud business selling excess computing capacity, fueling further questions about the supply-demand balance in the industry.
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On the Milan stock exchange, defense stocks stand out with Fincantieri e Leonardo at the top. Good Amplifon, supported by Equita's "buy" promotion and in continuity with the good momentum of the previous day. The technology and industrial sectors are more contrasted, where stm e Prysmian are still impacted by uncertainties about demand for artificial intelligence, in line with the global decline in the sector. Weakness is also nexi after the recent hikes. Stellantis However, it shows greater resilience, with registrations in Italy growing by 22,4% in June and market share at 27,1%, while in the United States the second quarter recorded a +6% but below expectations.
In the banking sector, attention remains high on Bpm bank e Unicredit, at the center of rumors and strategic evaluations. According to the Davide Leone & Partners fund, the possible industrial partners for Banco BPM would be Crédit Agricole Italia or Unicredit, while the operation Understanding su Ps is judged to be "by far the best". On Unicredit, however, the rumours reported by La Repubblica indicate memberships to theTakeover bid on Commerzbank around 15%, which would bring the overall stake to 45% including derivatives, thus strengthening the position in view of the 2027 management renewal. JP Morgan also revised its target price upwards to 93 euros, confirming its overweight rating.
