STOCK MARKETS: EUROPE SHINES, WALL STREET RISES, MILAN UP 1.25%
Optimism surged in the final trading session of the week for major European stock exchanges following rumors from Geneva about Iran's willingness to reach a nuclear deal.
Frankfurt led the gains with a +1.5% increase, followed by Milan at +1.25%, Madrid at +1.1%, Paris at +1%, and London at +0.33%.
U.S. indices also moved higher, with the Dow Jones up +0.3% and the Nasdaq up +0.5%, despite the Philadelphia Fed's indices falling below estimates, while the predictive index is expected to be nearly flat after a previous 1% decline.
Bonds, Currencies, and Commodities
The spread between Italian 10-year BTPs and German Bunds narrowed to 97.5 basis points. The Italian annual yield dropped 2.4 points to 3.49%, while the German yield rose 0.2 points to 2.52%.
The dollar fell below €0.87 and £0.74. Gold also declined, down -0.58% to $3,355.52 per ounce. Crude oil saw little movement, with WTI up +0.28% to $75.35 per barrel, while natural gas lost ground, down -2.17% to €40.73 per MWh.
Sector Performance
Buying prevailed across most sectors, with the exceptions of energy and pharmaceuticals. Semiconductor manufacturers saw notable jumps, including BE (+2.17%), ASML (+1.9%), and STM (+1.85%). The automotive sector also performed well, with Stellantis (+1.95%) denying press reports about a possible sale of Maserati. Renault (+1.35%) and Ferrari (+1.06%) also posted gains.
In the banking sector, MPS soared +2.45%, followed by Mediobanca (+2.25%), Santander (+2.2%), Commerzbank (+1.9%), BPER (+1.83%), Unicredit (+1.8%), Intesa (+1.6%), and Popolare Sondrio (+1.5%), with Banco BPM showing more cautious growth (+0.9%). Tim rebounded strongly, up +3.18%, outperforming its rivals in the sector. Meanwhile, oil companies such as BP (-1.45%), Shell (-0.7%), Eni, and TotalEnergies (both -0.2%) saw declines.
