Mixed performance on EU stock markets following EU data. Fincantieri surges in Milan

(Il Sole 24 Ore Radiocor) - Following earlier gains, the European stock markets have slowed their pace, with the FTSE MIB falling back below the 53,000-point mark and moving further away from its intraday record of 53,188 points, with investors pondering the trend in inflation and the ECB’s subsequent moves. However, 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.

Meanwhile, it has emerged that producer prices in May, compared with April 2026, rose by 0.2 per cent in both the euro area and the EU, according to Eurostat’s preliminary estimates. On an annual basis, they rose by 5.9% in the euro area and by 5.7% in the EU. In any case, following last week’s strong performance, a mood of cautious optimism continues to prevail in Europe, whilst anticipation is growing ahead of the start of the quarterly results season.

Investors’ attention is focused on the NATO summit in Ankara on 7 and 8 July. US President Donald Trump is among the leaders expected to attend. 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.

On the stock market, Fincantieri surges to the top of the FTSE MIB, rising by more than 10 per cent 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. Fincantieri’s rise is also boosting other defence stocks, namely Avio and Leonardo. Among other things, Defence Minister Guido Crosetto announced that the tank programme between Leonardo and Rheinmetall (+1.8 per cent) “is proceeding in a measured manner”, but with cost cuts. Banks remain under scrutiny in light of developments in the financial crisis. 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.

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.