Stock market listings international are mostly on the rise, maintaining record levels, ignoring the negative news and instead riding theFed monetary easing and the enthusiasm for artificial intelligence, as they begin to look at the quarterly data season now upon us with a likely increase in profits for US companies.'Italy will test the markets today after the rating upgrade by Fitch Friday evening. In Asia, attention is on the talks between the United States and China, while massive cover-selling of Warren Buffet have influenced Byd and MitsuEuropean stock markets opened slightly higher. At Piazza Affari, eyes were on Lottomatica and Campari.
Wall Street hits record highs. Keep an eye on FedEx, Apple, and Pfizer.
Wall Street closed out the Federal Reserve's highly anticipated week with stocks hitting new all-time highs, while the prospect of further rate cuts boosted the outlook for corporate earnings. On Friday, all three major Wall Street indexes posted record closing highs for the second consecutive day, with trading volume reaching its highest level since April, while FedEx surged after positive earnings. Dow to +0,37%, S & P 500 to +0,49%, Nasdaq at +0,72%. Shares of the parcel delivery company in particular supported the price lists FedEx, which jumped 2,3% after announcing quarterly earnings and revenue that beat analysts' estimates. Apple rose 3,2% following a price target increase by JP Morgan, while earnings Palantir Technologies and Oracle led the technology sector of the S&P 500 up 1,19%. The S&P 500 is thus on track to close higher September, debunking the reputation of a bearish and volatile month. To follow Pfizer which, according to the Financial Time, is closing in on a potential $7,3 billion acquisition of weight-loss drug developer Metsera by offering $47,50 per share in cash, with an additional $22,50 per share contingent upon achieving certain performance milestones. According to LSEG data, the $47,50 per share offer represents a premium of approximately 42,5% over Metsera's closing price of $33,32 on Friday, which put its market value at approximately $3,5 billion.
In Asia, Tokyo's Nikkei and Seoul's Kospi are rising. Warren Buffet's actions are making themselves felt.
The overall index MSCI Asia-Pacific gains 0,3%. The shares of Samsung Electronics Co. shares hit their highest level in more than a year, rising 5 percent, after news that the Korean chipmaker had secured long-awaited approval from Nvidia Corp. for its high-bandwidth memory chips. Suppliers Apple Asian-listed companies saw their shares rise after the U.S. company's latest iPhone launch attracted strong buyer turnout, helping Apple shares rise more than 3% on Friday. Taiex salt of 1%, Kospi + 0,6%.
The Tokyo Nikkei Index is up 1,4%. The threat looming over the Japanese stock market has dissipated after the central bank clarified its plan to sell off 75.000 trillion yen in ETFs in its portfolio. The sale will take place, but it will be very gradual, amounting to 620 billion yen per year at current market values.
Warren Buffett entered the field with his Berkshire Hathaway Inc.: on the one hand he announced that he had become one of the main shareholders of Mitsui & Co. after having increased its stake to more than 10%, with the possibility of further expanding its participation, on the other hand sold its entire stake in the Chinese vehicle manufacturer BYD Co. The consequence was that the Mitsui shares rose as much as 2,2%. Other trading companies Mitsubishi Corp., Itochu Corp., Marubeni Corp. and Sumitomo Corp. also closed higher at Tokyo. On the contrary, the BYD shares in Hong Kong fell 3,6% to a loss of about 30% from an all-time high reached four months ago, amid growing concerns about its ability to fend off competition amid a destructive price war in China.
Overall, sentiment also improved after US President Donald Trump Trump in a phone call with Xi Jinping praised the progress by announcing a next in-person meeting At the upcoming Asia-Pacific Economic Cooperation Summit, Trump said he was moving toward an agreement to maintain the app. TikTok active in the United States. Although the Chinese version of the call was measured, Xi expressed confidence that Washington and Beijing could manage the situation. Meanwhile, a group of senior representatives from the U.S. House of Representatives arrived in China for talks with President Xi Jinping's government, the first such official visit in six years.
On Friday, Trump called for a sweeping overhaul of the work visa program, the so-called H-1B, including a $100.000 application fee. The move has rattled some companies that have long been trying to recruit talent, especially in the technology field, particularly in the search for computer programmers, data analysts, and qualified engineers. Analysts say the move could be felt especially in India and its $280 billion IT sector, already grappling with slow growth and tensions between Prime Minister Narendra Modi and Trump.
Italy faces market scrutiny after Fitch's ratings upgrade
After S&P, which raised its rating on April 11, and Moody's which revised its outlook upwards in May, also Fitch he improved his judgment bringing it to BBB+ with a stable outlook. The last time Fitch upgraded Italy's rating was in December 2021, under Mario Draghi's government. Analysts predict a "continued and gradual reduction in the deficit in 2025-2027," with the deficit expected to reach 3,1% of GDP this year. Debt, on the other hand, is expected to rise to 137,6% in 2026, reflecting adjustments related to the super bonus. "Debt will remain much higher than that of countries" with a BBB rating (the average was 57,3% in 2024), but "we expect a reduction in financing and sustainability risks."
European stock markets opened slightly higher. At the Milan Stock Exchange, Lottomatica and Campari were all eyes on the stock market.
European stock markets are expected to open slightly higher, with EuroStoxx 50 index futures up 0,1%.
banksOn Saturday, Economy Minister Giancarlo Giorgetti said that banks should help the government finance the measures envisioned in next year's budget. "The banks are aware of the type of assistance the state has provided them with public guarantees. When the government is in difficulty, there must be a minimum of reciprocity," Giorgetti said.
CampariPaolo Marchesini has been appointed vice president, leaving his position as CFO, which will be assumed by Francesco Mele, who has joined from CDP.
Monte Paschi Bank. Mediobanca shareholders have subscribed to MPS's offer, reaching 70,48% of the capital, thus exceeding the two-thirds threshold that would allow the Siena-based bank full control of the extraordinary shareholders' meeting required to complete a merger between the two banks. The reopening period for the takeover bid ends today. Mediobanca CEO Alberto Nagel has accepted MPS's offer for the Milan-based investment bank, selling 364.000 of his shares. Mediobanca's General Manager, Francesco Saverio Vinci, sold 263.000 shares, while the bank's Chairman, Renato Pagliaro, transferred one million of his shares.
Generali The Trieste-based group and BPCE have reached an agreement to eliminate the €50 million penalty that would be imposed if the Natixis asset management deal fails to close, according to two sources. According to the newspaper Affari & Finanza, La RepubblicaTo ensure the stability and protection of the Trieste-based company in the new shareholder structure following the MPSMediobanca transaction, the idea emerging from government circles is to promote an "institutional anchoring," meaning a division of control of the company among various Italian institutions. To this end, UniCredit, Intesa Sanpaolo, Poste Italiane, CDP, and the Bank of Italy's pension fund could enter the fray, while Caltagirone and Milleri would serve as stable shareholders favored by the government.
LottomaticaStarting today, it will replace Pirelli in the FTSE MIB index at Piazza Affari, as part of the index's quarterly review.
SnamIt is evaluating, through a subsidiary, the construction of a $1 billion natural gas storage facility in the Irish Sea, Bloomberg reports.
Stellantis Stellantis has detected unauthorized access to a third-party provider's platform that supports customer service operations in North America. The automotive group announced the incident, explaining that the personal information involved was limited to contact details and that no financial or sensitive information was compromised. Stellantis has launched a thorough investigation and taken measures to contain the incident.
MFEBarclays raises rating to Overweight from Underweight.
Salvatore Ferragamo. The Ferragamo family has reiterated that it is not interested in any extraordinary transaction involving the eponymous luxury group.
sapphireStifel Resumes Coverage with Buy.
Volkswagen Volkswagen has lowered its financial targets for the current year after its subsidiary Porsche announced it would slow its transition to electric vehicles due to weak demand. In a statement, the group, which comprises 10 brands, expects Porsche's problems to have a negative impact of approximately €5,1 billion on operating profit. Volkswagen now expects an operating return on sales of between 2 and 3% in the 2025 financial year (from 4-5%). Net cash flow in the Automotive division is now expected to be zero (from €1-3 billion previously). Net liquidity is now set at approximately €30 billion (compared to a range of €31-33 billion). Finally, the group's sales revenue forecast remains unchanged at the previous year's level.
