Stock markets soar on the breakthrough in Iran; Milan hits record high. SpaceX set for a strong opening

(Il Sole 24 Ore Radiocor)- European stock markets continue to rise steadily at the halfway point of the session, thanks to the announcement of a peace breakthrough in Iran and anticipation of SpaceX’s record-breaking IPO, with shadow markets already pricing in a 35% jump at the opening.

Last night, US President Donald Trump announced that the United States had ‘put an end to the war with Iran. They have agreed never to acquire nuclear weapons, a condition on which we insisted. That was precisely the objective; it accounted for 95% of the issue’. The White House occupant believes an agreement with Tehran could be reached over the weekend. For its part, Tehran is playing it safe: “No final conclusion.” Thus, the FTSE MIB in Milan continues its upward trend, reaching a new all-time high of over 51,600 points. The previous intraday record was set on Tuesday 9 June at 51,240. Also up is the CAC 40 in Paris (it is worth noting that in May the consumer price index rose by 0.1% month-on-month and 2.4% year-on-year) and the DAX 40 in Frankfurt (the Bundesbank has lowered its GDP forecast to +0.5% in 2026 and estimates inflation at 2.9%). The FTSE 100 in London is rising despite the fact that UK GDP fell by 0.1% month-on-month in April, whilst rising by 1.2% year-on-year. This was reported by the Office for National Statistics. Across the Atlantic, futures point to a positive start for Wall Street.

SpaceX is set to begin trading on Wall Street in just a few hours, but the over-the-counter markets are already predicting ablockbuster debut. According to data reported by Bloomberg, derivatives offered by online broker IG International indicated a market value of 2.4 trillion in Singapore, representing a rise of over 35% compared to the listing price of $135 per share (a market capitalisation of $1.77 trillion). Perpetual futures on the company traded on the Hyperliquid cryptocurrency platform, on the other hand, are trading at around $180, for a valuation of over $2.3 trillion. The betting site Polymarket also predicts that SpaceX will have a market capitalisation of over $2 trillion at the close of the first day of trading: an outcome considered 70% likely. It remains to be seen whether this enthusiasm will translate into a similar movement in the share price.

On the Milan Stock Exchange, Buzzi and Stellantis, whilst the fall in oil prices is driving selling in oil stocks, with Eni and Tenaris sliding to the bottom of the list. Banks are buoyant, with risk management still at the forefront. Leading the gains Mediobanca , Banca Monte Paschi Siena and Intesa Sanpaolo .

Trump’s announcement has sent oil prices tumbling, with WTI falling below $86 a barrel and Brent hovering around $89. Gas prices are also down, trading at around €47 per megawatt hour in Amsterdam. On the currency market, the euro has strengthened to around $1.566 (from $1.1522 the previous day). The single currency is also worth 185.38 yen (from 185.80), whilst the dollar/yen exchange rate stands at 160.27 (from 160.47).