EU stock markets rise slightly; anticipation builds ahead of the NATO summit. Fincantieri surges in Milan
The spotlight is also on the quarterly results season. Oil prices are down slightly. The euro is largely unchanged, whilst the spread has fallen to 77 points
by Eleonora Micheli and Stefania Arcudi
Le ultime da Radiocor
***Leonardo: Crosetto, programma carri con Rheinmetall prosegue, ma tagliato i costi
Borsa: Europa in cauto rialzo in avvio, a Milano (+0,4%) vola Fincantieri (+10%)
Fincantieri: Folgiero, svolta storica nella subacquea, acceleriamo piano
(Il Sole 24 Ore Radiocor) - After a cautious start, the European stock markets began to rise, with the FTSE MIB climbing back above the 53,000-point mark and approaching its intraday record of 53,188 points. The CAC 40 in Paris and the DAX 40 in Frankfurt, following encouraging data from Germany showing that real (inflation-adjusted) orders in the manufacturing sector rose by 6.2 per cent year-on-year in May. The AEX in Amsterdam, the IBEX 35 in Madrid and the FTSE 100 in London.
Investors’ eyes are on the NATO summit in Ankara on 7 and 8 July. US President Donald Trump is among the leaders expected to attend. In any case, following last week’s strong performance, a mood of cautious optimism continues to prevail in Europe, whilst anticipation is building ahead of the start of the quarterly results season, which will be kicked off by the US firm PepsiCo on 9 July.
The week will offer plenty of talking points, starting with the publication of the minutes from the Federal Reserve and the European Central Bank. However, following last week’s US labour market data, economists believe that the US central bank will not raise interest rates in the short term.
Fincantieri leads the pack, with Prysmian and St
bringing up the rearOn the stock market, Fincantieri surges to the top of the FTSE MIB, with gains of over 10%, following the announcement of four acquisitions (Next Geosolutions , WSense, Graal Tech and Defcomm) in the marine drone and civil and military underwater sectors, for an initial outlay of around 600 million euros. Banks remain under scrutiny in light of developments in the risk landscape. Bringing up the rear Stmicroelectronics , in line with the sector’s weakness, and Prysmian . Ferrari is benefiting from the one-two finish at Silverstone secured by Charles Leclerc, who came first, and Lewis Hamilton, who came third. Finally, EasyJet soars by 10 per cent after accepting Castlelake’s offer of 6.9 pounds.
Quarterly results
The markets have started the second half of the year cautiously, as investors assess the repercussions of the energy shock linked to the conflict with Iran and question the sustainability of the share market rally driven by artificial intelligence-related stocks. Attention is now turning to the earnings season, in search of signs indicating whether technology companies are able to turn their investments in artificial intelligence into profits.
