Stock Exchange, Milan (+2.3%) targets 50,000. WS, new records with Iran peace winds and oil at -7%
Oil price falls, Wall Street grinds new records. For Trump possible agreement before next week's trip to China. Amplifon and Lottomatica rally in Piazza Affari
by Stefania Arcudi and Chiara Di Cristofaro
Le ultime da Radiocor
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Italia-Francia: giovedi' dichiarazione di interesse tra imprese su mini reattori
(Il Sole 24 Ore Radiocor) - Hopes of a deal between the US and Iran to end the Middle East conflict and the ensuingslump in oil prices, give wings to European stock exchanges, which close on the day's highs. While Wall Street also travelled at a good pace, with President Donald Trump saying he sees a deal with Tehran possible before his visit to China next week, Italia (+2.35%) finished well above the 49,000 point mark, with the Ftse Mib targeting 50,000, the highest since March 2000. For Milan, the all-time highs, which date back to the Internet bubble, are now just a step away. Paris closed at +2.9 per cent, Frankfurt +2.2 per cent. Although the situation is far from clear - for Axios the White House believes it is close to an agreement with Iran on a memorandum of understanding, Tehran talks more of a 'wish list' and unacceptable clauses - the markets seem to want to believe in a prospect of peace.
The day had opened with rumours from Axios that the US and Iran were close to a memorandum of understanding to end the conflict and the White House would expect answers from Tehran on several key points in the next 48 hours. In a post on X, the Pasdaran announced that "with the aggressor's threats neutralised and the new protocols in place, a safe and stable passage through the Strait of Hormuz will be guaranteed". Signs of openness also came from Trump: 'assuming Iran accepts what has been agreed', he wrote in Truth, Operation Epic Fury "will come to an end and this will allow the Strait of Hormuz to be open to all, including Iran'. If, however, the Islamic Republic does not accept, he threatened, 'the bombing will begin, which unfortunately will have a much greater level and intensity than before'. Glimmers therefore, but still no certainty.
Wall Street still record. Adp labour data above estimates and positive quarterly figures
Wall Street indices are also in positive territory, again updating all-time highs. The Dow Jones rose 1.24% to 49,910.59 points, while the Nasdaq climbed 2.02% to 25,838.94. New highs also for the S&P 500, at 7,365.01 points (+1.46%).
Besides the possible peace in the Middle East and the collapse of crude oil, the market is also galvanised by macro data. Awaiting the unemployment numbers scheduled for Friday, US private sector employment posted a positive figure in April, exceeding experts' expectations. According to the monthly report compiled by Automatic Data Processing (Adp), the agency responsible for preparing payrolls, there were 109,000 job gains compared to the previous month, against expectations for 84,000 job creation. The March figure was revised from 62,000 to 61,000.
