Uncertain start to the week for Western stock markets, which They started the second half of the year with cautionThe drivers at this stage are the attention on the next moves of the central banks, as well as on some macroeconomic data such as employment, inflation and industrial production, while we are about to enter the earnings season: in mid-July it starts with the major US banks and then gradually everything else, including the big ones on the Piazza Affari, from then until the end of the month. In all this, The long-awaited NATO summit in Ankara will be held tomorrow and the day after tomorrow., which is giving breath to European Defence stocks: today is another super day for Fincantieri +11,4%, Leonardo +4,5% and Avio +2,6%. In Paris Thales +1,2%, in Frankfurt Rheinmetall +3,7%.
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The Nasdaq starts strong with tech stocks rebounding.
Wall Street opened positively, although the Dow Jones is admittedly weak, while the Nasdaq Composite Index is doing very well, led by the usual AI stocks. Today, Micron is up more than 2%, AMD +8%, Tesla +4%, Nvidia +0,4%, Apple +1,5%, Meta +1,4%, Qualcomm +5,5%. Broadcom +4% after the extension of the custom chip partnership with Apple until 2031. SpaceX, Microsoft, Netflix and PayPal are in the red. Still on the Nasdaq, South Korea's SK Hynix has launched a mega-IPO in the United States from approximately 28 billion dollars through Adr: the operation It's seen as an important test of investor demand for the AI sector. Bitcoin, after recovering to $62.000, is now down half a percentage point.
Commodities: Oil remains stable, while gold and silver retrace.
Il oil has now found its dimension around 70 dollars a barrelWTI Crude Oil is slightly lower (currently $69), Brent crude is slightly higher (currently $72 a barrel). European natural gas, on the other hand, is losing ground, having soared last week following the heatwave in Europe, which is causing air conditioning usage to skyrocket and thus energy and gas consumption. It is currently trading at around €44,5 per megawatt-hour. After last week's small rebound due to favorable conditions, Gold and silver are weak today: the former falls to the $4.150 per ounce zone, the second ends below 62 dollars an ounce.
Piazza Affari almost reaches 53.000 points thanks to Defense
In an interlocutory session, The Ftse Mib accelerates towards the end and almost reaches the record of 53.000 points, with a gain of 0,27%. As mentioned, the defense sector is a major player on the eve of the NATO summit, but so are auto stocks, with Ferrari +2,2% and Stellantis +1,77%, and banks: Banco Bpm +2,15%, Finecobank +1,2%, and Intesa Sanpaolo +1,1% were the best performers. Energy, on the other hand, is suffering: Italgas -1,6%, Terna -1,5%, A2a -1,4%, Snam -1,1%, Enel -1,1%The BTP-Bund spread is virtually stable at 77 basis points, with the yield on the 10-year BTP rising to 3,74%. The euro is losing ground against the US dollar, with the exchange rate currently at a low 1,14. Other European markets: Paris -0,3%, Frankfurt +0,2%, London -0,3%.
