Wall Street closes higher: Dow Jones +0.59%, Nasdaq +2.07%. European stock markets are weak
A mixed close for European stock markets as investors assess whether the truce in the Middle East will hold and await the central bankers’ summit in Sintra. Oil prices have risen back towards the $70 mark
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(Il Sole 24 Ore Radiocor) - The rebound in the Nasdaq on Wall Street on 28 June, driven by a recovery in tech shares and a surge in Comcast, has failed to impress the European stock markets, which closed flat on the first trading day of the week. The Milan Stock Exchange recorded a 0.2% fall, with the FTSE MIB just above 51,000 points, whilst other continental indices were in the red. Investors thus continue to keep a close eye on the Middle East and the fragility of the truce between the US and Iran, who are due to meet in Doha tomorrow, 30 June.
There is also anticipation for the start – in the late afternoon – of the annual central bank forum in Sintra, which will be opened by the ECB’s President, Christine Lagarde, and will mark (on 1 July) the debut of the Fed Chair, Kevin Warsh, outside the US. This is a crucial summit for gauging their stance ahead of the two central banks’ upcoming meetings in July. Looking across the Atlantic, a climate of volatility persists in the big tech and chip sectors, following the difficult week just gone.
Despite being buoyed by US indices, European indices therefore ended the day on a subdued note: from FTSE MIB to the German DAX 40 via the CAC 40 in Paris.
Wall Street rises as tech stocks rebound; Comcast soars
Wall Street, on the other hand, is on the rise, with the technology sector rebounding after a difficult week: the Dow Jones closed 0.59% higher, whilst the Nasdaq rose by 2.07%. The S&P 500 also ended the trading session on a positive note, up 1.17%.
There has also been a positive development in the form of a truce in hostilities between the United States and Iran, which have agreed to suspend hostilities, allowing commercial vessels to pass freely through the Strait of Hormuz. A short while ago, US President Donald Trump wrote on Truth that ‘Iran has requested a meeting, which will take place tomorrow in Doha’.
