European stock exchanges close on a rally and focus on the US-Iran talks. Milan (+1.5%) tops Fincantieri
The stock markets are betting on a detente in the Middle East. Oil prices fell (Brent at 100 dollars) despite the many unknowns on the Iranian front. Euro back below 1.16 against the greenback, spread falls to 88 points
(Il Sole 24 Ore Radiocor) - Betting on a de-escalation in the Middle East, the European stock exchanges ended the session on a positive note, thanks mainly to the fall in oil prices, despite the many unknowns surrounding the Iranian frontier. Milan's Ftse Mib thus ended trading up 1.47% at 44,013 points, close to the day's highs. While on the one hand there is the 15-point peace plan that the United States has presented to Iran to put an end to the war, on the other hand, Tehran is only opening up a few glimmers of confrontation: on the one hand, the Iranian state news agency Fars reports a sharp "no" to an offer of ceasefire, on the other hand, Iranian officials are setting various conditions for a possible truce. Investors in any case focused on the cooling of energy prices, (-2.85% the Brent at 101.5 dollars per barrel, -2.24% the Wti and -2.3% for gas).
Meanwhile, the market also looks at the implications of the geopolitical environment on inflationary pressures and the resulting central bank postures from here on. ECB President Christine Lagarde assured that the Eurotower is 'ready, if necessary, to change monetary policy' 'at every meeting' of the Governing Council, in response to the energy shock due to the war, while the director of the International Energy Agency, Fatih Birol, explained that he is ready to decide on a new release of oil, assuring that the 400 million barrels already 'released' constitute only 20% of the IEA's reserves.
Wall Street closes positive, Arm stock soars
Wall Street closed higher after the United States presented Iran with a plan to end the conflict, causing oil prices to plummet. The 15-point plan was reportedly delivered via Pakistan, according to the New York Times. However, Iranian media reported that Tehran did not accept it. at the end of trading, the Dow Jones was up 0.66%, the SP 500 was up 0.54% and the Nasdaq was up 0.77%. On the stock market, Arm shares gained more than 20%, after the company unveiled its first proprietary chip, claiming it will generate $15 billion in sales by 2031.
Inwit down in Milan, Fincantieri tops after accounts
At Piazza Affari, the session closed with sales on Inwit (-2.83%) due to the termination of the Master service agreement by Fastweb + Vodafone and the consequent legal battle looming between the parties. Meanwhile, market sources do not rule out that even Tim (-0.73%) may terminate its contract with the towers early (although an ad hoc board meeting on the subject, although possible soon, has not yet been convened). On the opposite front, Fincantieri (+5.98%) led the gains after its 2025 accounts came in above expectations. Also well-bought were Prysmian (+3.8%), which benefited from positive sentiments from analysts at Hsbc, and St (+4.49%), which benefited from the European tech sector and the acceleration in the Chinese market. Credit institutions were tonic, with Mediobanca (+3.03%) and Mps (+3.31%) in the front row after Fabrizio Palermo was named as managing director for the board of directors' renewal list.
Euro below $1.16, gold and BitCoin rise
On the currency market, the euro/dollar is trading at 1.157 (up from 1.1589 yesterday), the single currency is also worth 184.2 yen (up from 184) and the dollar/yen is at 159.2 (up from 158.8). Purchases on Bitcoin at $71,400 (up 1.5 percent), while spot gold also rose again to $4,553.8 an ounce (up 1.8 percent).
