As for duties: Trump he issues threats and then announces a break. So for Iran, the US president said he will take 2 weeks of time before deciding whether to intervene directly alongside Istreale. The pauses are good for the markets which can recover in the meantime. In the meantime, he takes the field Europe which starts diplomatic talks in Geneva today. A good number of Asia Pacific stocks are rising, safe havens like gold are falling. Oil is also falling from its peaks. Everything is postponed until early July, as with the duties.
Iran-Israel: 8th day of war. Moscow warns. Europe takes action
Israel struck more Iranian nuclear sites yesterday and warned that its strikes could topple Tehran's leadership. Iranian missile hits apartments and office Microsoft in Beer Sheva. Moscow let it be known that a regime change in Iran is ''unacceptable and unimaginable'' and ''would open Pandora's box,'' Kremlin spokesman Dmitry Peskov said in an interview with Sky News, saying that Russia would react “very negatively” if Iran's Supreme Leader Ayatollah Ali Khamenei were killed. “The situation is extremely tense and dangerous not only for the region, but globally,” Peskov said, stressing that “expanding the number of participants in the conflict is potentially even more dangerous. This will only lead to another round of confrontation and an escalation of tension in the region.”
Donald Trump has been stalling for time on a possible attack on Iran and appears to be opening the door to new negotiations with Tehran, in the belief that the diplomatic path is not only still viable but also the only one to avoid dragging America into yet another conflict with an uncertain outcome, as happened in Iraq. In 2016, Donald Trump called the invasion of Iraq a “big mistake,” the result of a deliberate act of deception by U.S. intelligence. Then as now, some doubt that the threat of weapons of mass destruction is real.
“Donald Trump will decide whether or not to attack Iran in the next two weeks,” said White House spokeswoman Karoline Leavitt, denying rumors that the United States would attack in the next 24-48 hours. But she also warned that Tehran would only need two weeks to produce an atomic bomb. A few hours earlier, the president himself had rejected what was claimed in an article in Wall Street Journal, according to which the president has already approved plans for a military intervention. “He knows nothing about my ideas about Iran.”
Meanwhile today Great Britain, France and Germany will hold talks with Iran in an attempt to prevent the escalation of the conflict with Israel, the Financial Time. The meeting of Geneva will be the first high-level diplomatic face-to-face with Tehran since Israel launched its attacks on Iran a week ago. The meeting with Iran's Abbas Araghchi is a revival of the "E3" format, under which Britain, France and Germany - the European signatories to a nuclear deal Tehran signed with world powers in 2015 - seek to resolve the standoff. The aim of the meeting would be to agree a framework to resume monitoring of Iran's nuclear program, while granting international observers unfettered access to the facilities. Another point of contention will be Iran's willingness to commit to reducing its ballistic missile arsenal, the Financial Time.
After Trump unilaterally withdrew from the deal in 2018, a crisis erupted over Iran’s nuclear program. Tehran responded by expanding its activity and enriching uranium to near-weapons-grade levels, although it maintains its nuclear program is purely for civilian purposes. French Foreign Minister Jean-Noël Barrot told reporters on Thursday: “Negotiation remains today the only way to achieve a lasting rollback of Iran’s nuclear and ballistic missile program.” The E3, which was heavily involved in efforts with the Biden administration to revive the 2015 deal, has been largely sidelined by Trump, who has sought to pressure Iran into a new deal.
I EU governments they agreed to increase the European Investment Bank (EIB) annual spending at €100 billion of euros this year and to triple funding for the bloc's defense industry
Asia, Tokyo falls as consumer prices overheat
Le asian bags are recording trends conflicting, with Japan and Australia declining, while China rose. The equity benchmark of the South Korea which recorded the best performance with a 1,1% jump, surpassing the 3.000 level for the first time since early 2022, after newly elected President Lee Jae Myung announced a stimulus spending plan.
In Japan, a key gauge of consumer inflation accelerated to a new two-year high. Tokyo's Nikkei index was flat at -0,5%, with a weekly balance of +1,7%. The yen weakened slightly to 145,3 against the dollar, from 145 yesterday. The inflation in Japan (excluding fresh produce) rose to 3,7% on an annual basis in May, accelerating again after settling at 3,5% in April, and hitting the highest level since January 2023, government data showed on Tuesday. The beat-forecast reading was well above the Bank of Japan's (BoJ) target of 2%. Prices rose for a range of food products, including non-fresh products from coffee to chocolate. Electricity bills rose 11,3% and gas bills rose 5,4%. Meanwhile, Japan's Finance Ministry will seek feedback from market participants later today on its planned cuts in very long-term bond issues, as part of the measures taken to calm market turbulence.
Prime Minister Shigeru Ishiba, ahead of his July election, has pledged to give 20.000 yen ($139) to every citizen, doubling that for children, to help families fight inflation. The drive is crucial for Ishiba after public support for his government slumped to its lowest level since he took office in October, which observers say was partly caused by soaring inflation and rising rice prices. A supply chain disruption caused rice prices to rise 101 percent in May, up from a staggering 98 percent increase in April.
Stock markets in China are mixed: the Hang Seng Index Hong Kong is +1,1%. CSI 300 of the price lists of Shanghai and Shenzhen +0,2%. Taiex of Taipei -0,3%. There central bank of china he kept rates unchanged benchmark lending rate, as expected, after introducing large-scale monetary easing measures to support the economy. The one-year lending rate (LPR) was kept at 3,00%, while the five-year rate was unchanged at 3,50%. Most new and outstanding loans in China are based on the one-year LPR, while the five-year rate influences mortgage pricing.
Bounce the Bangkok Stock Exchange, SET index gains 0,7% after six consecutive sessions of decline. Since the beginning of the year, SET has lost -21%. political destiny of the prime minister Thai Paetongtarn Shinawatra remains uncertain, while the opposition and nationalist groups continue to call for his resignation. The government crisis was triggered by the media coverage of a private phone call with the former leader of Cambodia: in the conversation, Shinawatra criticizes Thailand's armed forces.
I oil prices Brent crude fell 2,5%, erasing some of its recent gains but still on track for a 3,7% weekly gain, up for the third straight week. Some extreme scenarios stemming from the United States’ growing involvement in the war between Israel and Iran could send oil prices higher to $130-$150 a barrel, especially if Iran retaliates forcefully, analysts say.
even the dollar The U.S. dollar is falling, although it is set to close the week up 0,5% on safe-haven buying at the height of the Middle East conflict. However, a week of gains would not be enough to reverse the recent downtrend and many analysts expect the dollar’s losses to continue. Their accumulated a 2,3% drop during the week.
European stocks seen on the rise. Eyes on the Risiko of Piazza Affari
European stock markets are seen opening with a good recovery based on the indications of the Euro Stoxx 50 Future for September, up by almost one percentage point.
Several central banks in Europe sent dovish signals yesterday, including Norway's central bank which made its first rate cut since 2020. The Swiss National Bank cut rates to zero and did not rule out going negative, while the Bank of England kept monetary policy steady but saw a need for further easing.
Il International Monetary Fund, last night at the end of the annual mission, said that the Eurozone economy is resilient, with unemployment at historic lows and inflation broadly in line with the target, and suggested reducing the obstacles to Bank mergersPolicymakers, the IMF says, face growing challenges, including trade tensions, growing demand for defense spending, and the need to ensure energy security, all while addressing challenges such as low productivity, rapidly ageing populations, and weak medium-term growth.
Germany, producer prices fell in May, but less than market expectations.
Unicredit: green light from the EU, the OPS restarts on Monday. UniCredit announces that it has received "authorization from the Directorate General for Competition for the acquisition of Banco BPM". The authorization "is subject to the implementation of commitments aimed at resolving the competition issues connected to the operation. To this end, the sale of 209 branches to qualified operators is envisaged". The suspension of the acceptance period of the Offer for thirty days, ordered by Consob, "will end on 21 June and, therefore, without prejudice to any rights of UniCredit, the acceptance period will resume" from Monday 23 June 2025. Castagna: we take note of the EU decision. Concern over the sale of branches: "significant repercussions".
Popular of Sondrio. CEO Mario Alberto Pedranzini tells the press that Bper's offer is dilutive and does not recognize the synergies of the merger for his bank's shareholders. He also sees clear execution risks in the integration of the two institutions.
Italgas has concluded the option offer period of the capital increase with the subscription of approximately 98,7% of the shares offered for an amount of just over one billion euros. The unexercised option rights will be offered on 23 and 24 June.
Unidata has signed a medium-long term loan of 50 million in total with a pool of banks and financial institutions led by Unicredit, expiring in 2033, supported by a Sace guarantee.
Brunello Cucinelli, MonclerAccording to research by Altagamma-Bain, the luxury market is expected to shrink by between 2025% and 2% annually in 5, with negative trends in the United States and China.
Leonardo, Fincantieri. EU governments have agreed to increase the European Investment Bank’s (EIB) annual spending to €100 billion this year and triple its funding for the bloc’s defense industry, according to people familiar with the matter, who spoke on condition of anonymity because the information was private. The decision was approved at a meeting of the EIB’s board in Luxembourg, the sources said, ahead of formal approval by EU finance ministers later today. The new annual spending cap of €100 billion is more than €10 billion above the amount the EIB disbursed last year, and €5 billion above the €95 billion target EIB President Nadia Calvino set earlier this year. It will also allow the EIB to more than triple its funding for defense projects. The amount will be up 3,5 billion euros from last year’s billion and far exceed the 2 billion euros the bank said it would spend in January, the sources said. Eutelsat Communications SA is raising 1,35 billion euros ($1,5 billion) from the French government and other investors in a deal that will help the European company build its fleet of satellites as an alternative to Elon Musk’s Starlink. The French government sees Eutelsat as strategically important to Europe’s sovereignty and the most viable competitor to Starlink, by far the dominant satellite internet operator.
