European stock markets are slowing after recent gains. The US labor market is showing signs of weakness, while in the euro area, producer prices rose 5,9% in May on an annual basis (+0,2% monthly), according to Eurostat, fueling uncertainty about the ECB's policy. In the background, uncertainties remain linked to the evolution of geopolitical tensions and, above all, the next steps by central banks, with attention already turned to the minutes of the Fed and ECB and the start of the earnings season. From Asia conflicting indications are arriving: the rebound in the technology sector has stopped, with the Kospi in decline of approximately 0,49%, while the Nikkei closed essentially flat (-0,01%).
Investors are looking at the NATO summit in Ankara (7-8 July). A Wall Street The positive sentiment continues after a record week for the Dow Jones. There's also anticipation for the Fed minutes and the debut of the "Trump Accounts" with Donald Trump's participation.
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In Europe the tone remains cautiousThe FTSE MIB closed trading at 52.959,14 points (+0,27%). In the rest of Europe: Frankfurt marks a slight progress (+0,05%), while Paris (-0,45%), Madrid (-0,93%) And London (-0,26%) ended the day in negative territory.
On the Milan stock exchange, it stands out Fincantieri, which also recorded a jump of over 12% after the announcement of four acquisitions in the underwater sector, for a total investment of approximately 600 million euros. The issue of security and military spending continues to support Leonardo (+ 5%) and Avio, among the protagonists of the session. Ferrari also did well, With the Leclerc's first victory of the season at Silverstone and Stellantis, while among the banks it stands out Bpm bank, supported by the Crédit Agricole's moves on capital (now at 29,3%). Also on Amplifon.
On the opposite front, it is confirmed more the technology sector is weak, with profit-taking at STM and Prysmian, in line with the slowdown seen in Asian markets. Sales by energy companies such as Saipem and Tenaris were more moderate.
