After four sessions of growth, the European stocks close mixed today, without finding any inspiration in Wall Street's cautious start.
Piazza Affari is the best and he confides over 40 thousand basis points (40.356) with a growth of 0,7%, the highest since 2007, between new quarterly reports and financial stocks in the dust. Signals positives of trust towards the Belpaese they also came from government bonds, with the spread between the Italian and German ten-year bonds, which fell today below the psychological threshold of 100 basis points for the first time since 2021. In the end, the spread is down compared to the previous close, but slightly above the 100 limit, with a BTP rate at 3,71% against the Bund's 2,7%.
Back to European stocks: they are falling back Frankfurt -0,39% London -0,24% Paris -0,47% (weighed down by the fall of Alstom, -16,73, after the quarterly), while they rise Amsterdam +0,19% and Madrid + 0,51%.
Overseas they appear timid, but positive DJ + 0,09% S & P500 + 0,2% Nasdaq + 0,65%.
Nothing to worry about in today's calm, then, given that, from one caution to another, the European indices are near their highs , New York Stock Exchange Recovered All 2025 Losses. However, the markets have lost some of the driving force triggered by the tariff agreements signed by the United States with the UK and China (today the 90-day truce between Washington and Beijing), while they watch Donald Trump's ongoing trip to the Persian Gulf and to the meeting that is due to take place tomorrow in Istanbul between Russia and Ukraine.
Most US megacaps are up: Nvidia +1,4%; Advanced Micro Devices +5,1% after approving a new $6 billion buyback plan. Tesla on the other hand is volatile, in the perspective of a review of Elon Musk's emoluments agreements.
Draghi and Mattarella: “no one should sleep”
Meanwhile at the Coitec summit, in Coimbra, the President of the Italian Republic Sergio Mattarella and the former premier Mario Draghi they try to give theyet another shock to a cornered EU on the geopolitical chessboard and at risk of economic hardship.Nessun dorma" urges Mattarella, quoting Turandot, while Draghi warns that for “several years and the situation had been deteriorating”, even before the tariffs, but internal political fragmentation and weak growth have made the European response more difficult. “The most recent events represent a breaking point”. Furthermore, the energy cost threatens the survival of continental industries and defense investments are not taking off as they could because countries with high debt can only spend up to a certain point. The solution? “issuing common debt to finance common spending is a key component of the roadmap.”
Important words, which however come on a day in which the Ursula von der Leyen's reputation is tarnished from the ruling of the General Court of the EU which condemned the Commission's refusal to make public the Private conversations between the president and the head of Pfizer in 2021, when they alone concluded the purchase of 1,8 million doses of the vaccine developed by the multinational together with the German company BionTech.
Falling dollar
Today's news on the foreign exchange market they are reducing the gains of the single currency on a day of weakness for the greenback, after the slowdown in US inflation in April seen yesterday that raises new hopes for future actions by the Fed, even if the vice president of the US central bank Philip Jefferson dampens enthusiasm. "Recent data - he says - suggest that inflation is converging towards the 2% target, but recent developments in trade matters increase uncertainty about its future path". In this context, the single currency gains 0,16%, for a cross of 1,12.
Il dollar loses strength above all against the yen (-0,66%) and the exchange rate drops to 146,5.
Among raw materials gold retreats, which dropped more than 2% in immediate delivery and was priced at $3186,05 an ounce.
Oil takes a break, after the recent recovery, while OPEC maintains its oil demand growth forecasts for both 2025 and 2026, despite economic and trade uncertainties. Weekly U.S. oil inventories also rise above estimates.
The June futures of Texas crude oil are trading at $63,07 per barrel (-0,94%), while Brent crude for July is priced at $66,08 (-0,83%).
Piazza Affari, Unipol and Azimut soar
Many financial stocks are standing out in Piazza Affari today, in particular managed savings and insurance stocks. In the foreground are Unipol + 2,82% Azimuth + 2,39% Finecobank + 2,21% Generali + 1,4% Banca Mediolanum + 0,9%.
Among contrasting bank stocks stands out Unicredit +1,92%, which should tomorrow meet government officials to discuss the limits set by the Golden Power by Palazzo Chigi on the offer launched by Andrea Orcel on Bpm bank (-0,05%). The other big company in the sector also shines Intesa Sanpaolo +1,4%, while it slightly drops Ps -0,35%.
A2a bounces back 2,12% after yesterday's losses following the quarterly results. Utilities also do well Terna + 0,9%.
It marks a modest gain Prysmian +0,64%, which successfully placed a non-convertible, subordinated, hybrid, perpetual bond loan for one billion euros, gathering six times higher demand, which allowed the final yield to drop to 5,375% from the initial guidance within the range of 5,875%-6%.
At the bottom of the list are health stocks such as Recordati -2,71% and Diasorin -1,99%.
Letter for Hera -1,18%, after a quarterly which showed growing revenues of 28,3%. They are falling back Stellantis -0,78% nexi -0,66% Campari -0,62%.
It is weak Inwit -0,38%, after results in the first three months in line with the consensus.
