Shares climbed on the Milan Stock Exchange, with banks leading the rally as investors assessed the effects of the recent agreement on 15% tariffs for EU goods entering the US.
At the same time, focus is shifting toward corporate earnings as the reporting season intensifies.
On the macroeconomic front, the Federal Reserve’s policy meeting begins today, with an interest rate decision expected tomorrow. The rate is widely anticipated to remain steady, but market watchers will be closely examining any signals about future policy direction and the degree of consensus within the Federal Open Market Committee (FOMC).
By around 10:00 a.m., the FTSE Mib index was up 0.77%, nearing its session highs.
Banks showed strong performance, with key players UNICREDIT (BIT:UCG) and INTESA (BIT:ISP) both gaining more than 1%. Mediobanca (BIT:MB) advanced 1.5%, buoyed by a takeover bid from MPS (BIT:BMPS), which itself rose 0.6%. Delfin Chairman Francesco Milleri commented in an interview that “a possible adjustment to reflect stock market performance would make the offering more attractive to investors.” Equita brokers added that “a possible adjustment to the economic conditions could be the key to broader investor acceptance.”
Other banks like BPER (BIT:BPE) and POP SONDRIO (BIT:BPSO) also rallied around 2%, following the conclusion of a takeover bid that raised the Emilian bank’s stake to 80.69% of Popolare di Sondrio’s capital, with the announcement that the stock will continue trading on the Milan exchange.
Defense stocks rebounded as well, with LEONARDO (BIT:LDO) climbing 1.4% and FINCANTIERI (BIT:FCT) up 0.74% after a dip yesterday linked to news of increased European investments in US defense firms.
STELLANTIS (BIT:STLAM) saw a sharp decline, initially dropping more than 4.5% before settling around a 2.3% loss, after releasing half-year results and updated full-year forecasts that fell short of analyst expectations and consensus estimates.
Outside the main index, SOGEFI (BIT:SGF) surged over 3% following its quarterly results and updated annual outlook. Equita noted that “some more positive indications emerged than expected,” prompting the broker to raise its estimates and targets by about 4%.
Questo contenuto è fornito esclusivamente a scopo informativo e non costituisce consulenza finanziaria, d’investimento o di altro tipo professionale. Non deve essere considerato come una raccomandazione all’acquisto o alla vendita di titoli o strumenti finanziari. Tutti gli investimenti comportano dei rischi, inclusa la possibilità di perdere il capitale investito. Le performance passate non sono indicative di risultati futuri. Si consiglia di effettuare le proprie ricerche e di consultare un consulente finanziario qualificato prima di prendere qualsiasi decisione di investimento.
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