Wall Street closes with new records for S&P 500 and Nasdaq. Piazza Affari Queen of Europe
Stalemate in the Middle East dampens other markets In the US, more jobs were created than expected and unemployment stable at 4.3%. Nasdaq and S&P are on new highs
by Chiara Di Michele and Giorgia Colucci
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(Il Sole 24 Ore Radiocor) -Milan Stock Exchange in countertrend in the first week of May with its foot on the accelerator in the face of a Europe that remains cautious as it awaits developments in the conflict between the United States and Iran. The Nasdaq gained 1.71 per cent, to 26,247 points, on the back of Intel's stock rally after rumours that it has struck a agreement with Apple to produce some of the chips that power its devices. Intel shares rose 13 per cent. Good labour market data in April, which were better than expected, also pushed the stock markets higher. The S&P gained 0.81 per cent to 7,396 points, the DJ to parity at 49,609 points.
The Ftse Mib gained 2.2%, aiming at the 50,000 point mark, i.e., the all-time high from the days of the Internet bubble. Supporting the list is above all the rally of Prysmian (+18.8%) supported in turn by the Nasdaq records as well as the quarterly report.
The Euro Stoxx 600 closed with a fractional rise (+0.1%) while the other main indices (Paris, Frankfurt and Madrid) were at parity and London ended down 1.4%. Of note was the reversal in oil prices with an 11% drop for Brent crude and 8.6% for Wti, in the wake of the US-Iran truce holding, despite renewed clashes in the Strait of Hormuz.
Looking at equities, Prysmian had a great week, as mentioned, on the back of demand for electricity grids, data centres and artificial intelligence, accompanied by the words of CEO Massimo Battaini on organic growth and M&A plans. Amplifon (+16.5%) was also in the lead, rewarded by the quarter's accounts and 2026 guidance, followed by Diasorin (+8.9%) and Unicredit (+7.4%), with its eyes on the Commerzbank game.
On the flip side, Campari (-10.8%) ended the week black, penalised by lower-than-expected sales in the first quarter. Lower crude oil prices dragged down oil prices: -5% Eni, -6.6% Saipem and Tenaris. The latter was also affected by quarterly accounts with a cautious outlook on the second quarter, as well as by news at the top.
