They travel positively European stock markets orphaned by Wall Street, closed for Independence Day, but still galvanized by the new records set by the US stock market on Wednesday, with the third historical high in a row for the Nasdaq and the second for the S&P. However, the markets' eyes are focused on the continental elections: polls open in the UK which is preparing for the victory of the Labor Party, while on Sunday in France will be held i ballots, crucial for the future of the country and for the stability of the Eurozone. In the background remain the central banks, on the day the ECB publishes the minutes of the last meeting in June.
European stock markets on the rise, Milan returns above 34 thousand points
In this context, European stock markets continue to rise with the Stoxx 600 which gains over half a percentage point driven by the rise in the automotive sector on the day of Brussels gives the green light to tariffs on imports of electric cars from China which will start tomorrow, Friday 5 July.
Special watch of the day is the Ftse 100 of London which, with the elections underway, rises by 0,8% while waiting to see how large the majority won by the Labor Party will be. Follows closely Paris (+0,7%) following the intensification of efforts by opponents of the Rassemblement National (RN) to prevent the far-right party from obtaining an absolute majority.
Positive too Amsterdam (+ 0,59%) and Frankfurt (+0,34%), while the only exception in a green landscape is Madrid (-0,1%).
Business Square, for its part, marks an increase of 0,55% which brings the Ftse Mib again above 34 thousand points (to 34.031 to be precise) for the first time since 12 June.
On the stock market, the performance of the German pharmaceutical group is noteworthy Redcare Pharmacy, which runs 9,7% on the back of a 33% increase in preliminary second-quarter sales, and Plusee, which fell 10,9% in Paris after the voucher and benefits company yesterday announced weaker-than-expected third-quarter sales in Europe. Ericsson it finally slipped by 2,5% after recording another SEK 11,4 billion ($1,09 billion) writedown in the second quarter of 2024.
Fineco, Leonardo and banks are running in Milan
At the top of the Ftse Mib there is Finecobank, which rose by 2,1% after the positive numbers on last month's collection. The race continues Leonardo (+1,97%) which on Wednesday formalized the agreement with Rheinmetall for the creation of a new XNUMX/XNUMX joint venture in the field of land defense systems.
Banking risk still pushes banks: Unicredit (+ 1,79%), Bper, Mediobanca e Ps all three at +1,1%.
It proceeds weakly stellantis (-0,5%) on the day of EU duties on China. Low sales also on Saipem (-0,47%) And Moncler (-0,28%).
The other markets
Lo spread between BTP and Bund remains stable at 143 basis points, while that between Oat 10 and Bund falls further, reaching 64 basis points. On the secondary side, he is stable at 3,99% (yesterday it was 3,98%), the return of the benchmark ten-year BTP, while that on the Bund drops to 2,57% and that on the Oat to 3,22%.
Moving on to the secondary, theeuro rises to $1,080, while profit taking falls on the Petroleum after the increases of the previous days: Brent is at 87 dollars a barrel (-0,37%), the WTI at 83,6 dollars (-0,4%). For ActivTrades, black gold “has begun a possible correction, which for now appears limited, but which could, in the future, become more significant. The main reason, in addition to being technical, derives from American data which could depress the demand for oil since the latest indications on the labor market could highlight a sharp decline in the macroeconomic situation of the world's largest consumer of crude oil".
