European stock markets closed mixed today, while Wall Street did not give up and rallied in the American morning, taking advantage of the quarterly results and optimism for another rate cut by the Fed, tomorrow at the end of its monetary policy meeting. Meanwhile, Apple has gained $4000 trillion in market capitalization. The Milan Stock Exchange is positive, pushing above 43 basis points (43.128), up 0,51%, thanks primarily to the performances of Azimut (3,68%), Stellantis (1,63%), Snam (1,35%), and Leonardo (1,33%).
London is in line with Milan and rises by 0,52%.Among the giants of the British stock market, HSBC shines (+4,44%). Europe's largest bank presented its quarterly results and recorded a sharp drop in net profit due to massive provisions for legal disputes, but the market focused primarily on operating performance, the improvement in wealth management and Hong Kong activities, as well as the increase in revenue estimates for the year.
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Madrid did well at +0,61%, while Amsterdam dropped by -0,75% and Paris by -0,27%. The week is full of appointments with the central banks The ECB will make its decision on interest rates on Thursday. The market isn't expecting a rate cut, and President Christine Lagarde, in Florence for the ECB's meeting, seems inclined to do so. While visiting a Florentine market, she noted that shopping is expensive: "Food prices are a bit high," she said. "We need to ensure they continue to fall."
Wall Street hits its highest and Apple hits $4.000 trillion then falls back
Overseas Wall Street continues to be positive After a strong start and new highs reached yesterday thanks to optimism about the meeting in Korea between the US and Chinese leaders and the developments of a trade truce, the DJ is currently up 0,51%, the S&P 500 +0,13%, the Nasdaq +0,52%.
In Week Profits from many big tech companies are expectedMeanwhile, Apple (-0,15%) briefly joined the exclusive club of companies with a market capitalization of $4000 trillion, along with Nvidia (+1,38%) and Microsoft (+1,78%). The latter, among other things, is celebrating an agreement that will allow OpenAI to become a public utility, while also giving Microsoft a 27% stake in chat maker GPT.
In today's session, stocks such as United Parcel Service (+8%) and PayPal (+9,28%), after beating analysts' expectations with their quarterly results.
From the Fed, tomorrow, a further rate cut of 25 basis points is expected, but even more important will be any indications from Chairman Jerome Powell regarding future moves. His words will carry weight, even if his position is shaky and will not be renewed when its term expires. Today, the FT reports that US President Donald Trump intends to nominate Treasury Secretary Scott Bessent for the post.
Declining oil
Optimism about US-China relations isn't enough to console oil prices today, given the expected production increases by OPEC+. Prices are down about 2%. Texas crude is back near $60 a barrel, while Brent is trading at $63,68. Gold is weak and is trading below the $4000 an ounce mark, while silver is making slight progress.
On the currency market the dollar falls slightly The euro is trading just above 1,165. The greenback is losing ground, especially against the yen, and the exchange rate is slipping to 152. The Japanese currency appears unnerved by the words of U.S. Treasury Secretary Bessent, who urged the Bank of Japan to pursue a "sound monetary policy." Investors interpreted this comment as a call to raise interest rates.
Piazza Affari, MPS and Mediobanca are buoyant as a new era begins.
In Piazza Affari they are tonic MPS +1,18% and Mediobanca +0,88% At the dawn of a new era that sees the former elite of Italian finance in the hands of Siena. The news was also highlighted today by the words of Montepaschi CEO Luigi Lovaglio, who appeared in Piazzetta Cuccia while the meeting was underway. the first board meeting (with Siena traction) elected this morning by the shareholders' meeting.
The changing of the guard is also being felt in Mediobanca's subsidiary, Generali (+0,79%)Citing three sources familiar with the situation, Reuters writes that the Trieste-based lion and France's BPCE, owner of Natixis, will likely abandon the deal to integrate their wealth management businesses, allowing the year-end deadline to pass without a binding agreement.
Among the blue chips that rose most today was Stellantis, following positive European car registration data for the Italian-French company, which marked its second consecutive month of growth, fueling confidence in a recovery in demand. On the other side of the price list, Ferrari is languishing., with a decrease of 2,28%. Interpump also fell by 1,86%, Campari by 2,25%, and Inwit by 1,46%.
Moncler, up 0,11%, closed a cautious session ahead of its upcoming financial statements. On the Euronext Growth Milan market, the stock traded lower. good Stellar Workshop (+8,85%) rewarded by the green light for the integration operation with Global Aerospace Technologies Group (GATG), which aims to create a listed industrial hub in Italy, specializing in advanced aerospace and defense technologies.
Avio instead goes down, -8,67%, after the third-quarter results reported last night, which were in line with estimates, and the confirmation of 2025 guidance. Juventus, +0,65%, appears optimistic as they await the appointment of a new coach following the dismissal of Igor Tudor. Luciano Spalletti is in pole position, followed by Roberto Mancini.
Finally, it should be noted that Consob is warning savers Investment suggestions arriving via social media and WhatsApp messages using the "pump and dump" scheme to inflate the stocks of small listed companies and then sell large quantities of shares, causing their prices to plummet. In a statement, the Commission noted that it has received "numerous complaints from savers defrauded" using this technique.
Stable spreads
Bocce is stuck on the secondary market, where the spread between the Italian and German ten-year bonds is high. remains stuck at 78 points base, with rates of 3,4% and 2,62% respectively.
