Le European stocks close higher in this April 25th, a celebration for Italy, with Milan protagonist absolute thanks to the strong purchases in the banking sector. The FtseMib closes with a gain of 1,47% returning above 37 thousand points, driven by the rally of Mediobanca, +6,61% and Ps,+4,64% at the centre of attention in the banking risk game after theGeneral Assembly (+1,33%) which yesterday saw to triumph Donnet. The victory of the Piazzetta Cuccia list in the assembly of the Trieste Lion has strengthened the position of Mediobanca, supported by the large funds, and has revived the market's interest in the public exchange offer launched by MPS.
Milan is thus the best European location, followed by Madrid, +1,32%. All European stock markets closed in positive territory, albeit with different intensity: F did wellresentment (0,81%) and Paris (0,45%), London (0,09%) and Amsterdam (+0,10%) are little moved.
Piazza Affari: in addition to the banks, Iveco and Pirelli stand out
In addition to the banking sector (well Unicredit, + 2,75%, Mediolanum Bank,+2,49%, Unipol, +2,41% and Bpm bank, +2,18%) stands out Iveco Group (+3,44%) after Bloomberg's rumours that Bain Capital and KPS Capital would be interested in purchasing the defense division of the Italian group. The project of a spin-off announced by the board of directors in February is back in the spotlight, with the market betting on a valuation of around 1,5 billion euros for the asset.
Good session also for Buzzi (3,23%), Pirelli (3,38%) and Prysmian (3,31%). In particular, Pirelli, which has risen to the levels of early April, benefits from the temporary relaxation on duties and the promotion received from Citi, which confirmed the “buy” rating and a target of 7 euros and theagreement with the Swedish CTS for Northern EuropeStellantis also positive, +0,87%. Little movement instead Ferrari, +0,22% despite reports of talks with China's Leapmotor to jointly develop electric car technologies.
At the bottom of the list, however, we note the drop in Campari, -2,21%, black jersey of the day, followed by Inwit, -0,68% and Amplifon, -0,67%.
BYD Beats Tesla Again
On the international front, the spotlight is on Byd, which doubled its net profit in the first quarter to 9,15 billion yuan, once again surpassing Tesla both in volumes and results. Driven by strong demand, the Chinese company recorded overall sales (including hybrids) up 60%, reaching 1 million units.
Wall Street Uncertain, Enthusiasm on Tariffs Cools
Across the Atlantic, Wall Street moves cautiously after three sessions of strong increases. The statements released to the magazine Team by the president Donald Trump, who called the introduction of duties of between 20% and 50% on foreign products within a year a “total victory,” dampened the enthusiasm of traders. Trump also denied that the temporary suspension of duties was dictated by Treasury yields and confirmed a telephone conversation with the Chinese president Xi Jinping, estimating that an agreement on tariffs could come “within three or four weeks”.
In this context, American consumer confidence – measured by the Michigan index – fell in April to 52,2, down sharply from March's 57. A sign that worries the markets, even if the rally in tech stocks has offset the initial weakness.
A, Google's parent company, soars after a better-than-expected quarterly. Revenue rose to 90,23 billion dollars, driven by online advertising, and beat the consensus. Also good Meta e Apple , the latter according to the Financial Times ready to move all iPhone production to India destined for the US market as early as 2026. A slump instead for Intel, after an outlook that disappointed experts.
Lagarde: “Downside risks rising, inflation towards 2%”
On the macroeconomic level, the president of the ECB Christine Lagarde warned of growing downside risks to eurozone growth. Speaking at the IMFC, Lagarde reiterated that inflation is expected to hover around the 2% target, but stressed that trade tensions are generating further uncertainty for the bloc's economic outlook.
Energy Stable, Gold Slows
The energy sector shows little volatility: the WTI crude oil is floating just above $62 a barrel, while the Brent remains above the 66 mark. Natural gas continues to lose ground, settling around 31 euros per megawatt hour. After the recent historical highs, thegold slows down its course: the spot price is hovering around $3.300 an ounce, down from highs of $3.500,05, with futures at similar levels. On the currency front, theeuro remains stable above $1,13, while the Bitcoin marks a new rise, exceeding $94.000.
Lo BTP-Bund spread closes the session at 111 basis points, 10-year BTP yield, +3,58%.
