Le European stocks close sharply higher, Despite the fragile truce between Iran and Israel, which continues to show tensions. The truce, supported by Donald Trump, however, contributed to a decline in Oil prices, with WTI around $65 a barrel and Brent at $68. Even the natural gas loses more than 10%, falling to 36 euros/MWh.
On the macro front, the US consumer confidence drops to 93 points, while in Germany the Ifo index reaches its highest level in a year at 88,4. Jerome Powell reiterates a wait-and-see attitude on monetary policy, with no rush to change rates, despite pressure from Trump.
Il Ftse Mib of Milan closes at 39.474,46 points (+1,63%), best European performance ahead of Frankfurt (+ 1,51%), Madrid (+ 1,37%) and Paris(+ 1,05%). London remains almost unchanged (+0,01%). Wall Street confirms the positive trend: Dow Jones +0,95%, S&P 500 +0,93%, Nasdaq +1,34%
At Piazza Affari the banks are shining, with Monte dei Paschi di Siena at +7,03%, boosted by the upgrade by Bank of America and the green light – according to Reuters – of the ECB Supervisory Board to takeover bid su Mediobanca (+4,21%). Well too Unicredit (+ 3,98%), Banca Mediolanum (+ 3,5%) and Bpm bank (+3,36%). Industrial stocks such as Buzzi (+ 6,78%), Stellantis, nexi e Prysmian exceed +3%. Tim rises by 2,12% thanks to the approval of the budget and remunerations. The proposals to reduce the number of members of the Board of Directors and to increase the share threshold for submitting lists were rejected.
Oil stocks suffer from falling crude oil: Eni -2,54% Tenaris -2,44% Saipem -2,09%. Also decreasing Campari (-1,87%) and utilities A2A (-0,74%), Terna(-0,69%) And Hera (-0,05%). Leonardo loses 1,10% after Meloni's announcement at the NATO summit to increase military spending to 3,5% of GDP with civil and military investments.
In the currency field, Euro surpasses 1,16 against the dollarwhile its spread Btp-Bund drops to 95 basis points with the Btp yield at 3,46%.
