EU stock exchanges up as Middle East clears. Milan a record with St
President Trump spoke of a deal with Iran 'perhaps as early as next week' as hopes of de-escalation cool oil prices. Bitcoin down below $70,000
by Stefania Arcudi and Martina Soligo
Le ultime da Radiocor
Borsa: Europa consolida rialzi a meta' seduta, Milano (+1,2%) record con rally St (+10,6%)
E21: Eurostat stima inflazione in accelerazione al 3,2% a maggio (RCO)
*** Bce: in 2025 euro vale 20% valute globali, ma segnali fragilita'
(Il Sole 24 Ore Radiocor) - European stocks consolidated their gains European stock markets, in the wake of a possible breakthrough in the Middle East, with Israel and Hezbollah apparently close to a ceasefire in Lebanon and with US President Donald Trump signalling that an agreement with Iran, with the reopening of the Strait of Hormuz, could come "next week". On the macro front, inflation in the eurozone increased to 3.2% in May compared to the same month a year ago, accelerating from April's annual 3%.
So, while Wall Street futures are weak after their record highs on the eve of the day, the FTSE MIB of Milan took a new intraday high at 50,539 points. Also positive was the CAC 40 of Paris, the DAX 40 of Frankfurt and other Old Continent listings.
In Milan good for technology, down for defence
On the equities front, Piazza Affari was flying Stmicroelectronics after the target hike. Technological stocks generally fared well after Tencent gained 7% in Hong Kong with tests of an AI-based agent prototype for WeChat. EvenPrysmian benefited from the tech run, which was boosted by analysts from BofA and Jefferies. Banks were tonic, with Intesa Sanpaolo leading the way. Oil stocks were weak with Eni and Tenaris , down also defence with Leonardo and Avio .
Flying St after data centre revenue target hike
Stmicroelectronics denier queen in the Italian Stock Exchange after it revised upwards its data centre revenue forecast for 2026 and doubled its 2027 forecast, in light of demand driven by continued strong AI infrastructure and on the back of recent progress in increasing capacity. The company, which, as usual, speaks of 'ambition' and not targets, explained that the figure is now expected to be around $1 billion in 2026, compared to the 'easily above $500 million' numbers previously forecast. Moreover, "assuming the current momentum continues and considering the commitments we currently have, revenue could double in 2027", compared to the figure "well above $1 billion" previously forecast.
According to Intermonte analysts, "the forecast update confirms the decidedly positive trend for data centres, which at the moment is not yet fully reflected in our estimates. An initial estimate of the impact could result in an upward revision of earnings per share of between 5% and 10%'. St. St.'s leap, which follows in the footsteps of Nvidia and Tencent, both of which have rallied in recent days with their bets on AI, is driving the entire sector in Europe.
