Lagreement between the United States and Iran supports the European markets, which in the course of the session updates the maximums and push down the Petroleum. In the end, however, the stock markets slowed down and profit taking prevailed, thanks to the return of geopolitical tensions and the new threats from the American president. Donald Trump on tariffs, in addition to doubts about the full reopening of the Strait of Hormuz without transit charges. On the issue, US Vice President J.D. Vance emphasized that Washington expects a "toll-free" opening in the long term, an issue likely to be addressed in technical negotiations.
Attention remains high also in view of the G7 of Evian, where trade and tax issues between the United States and Europe are intertwined, while investors look at the next moves of the central banks and the orientation of the Federal Reserve led by Kevin Warsh, in addition to the meetings of Bank of Japan and Bank of England expected in the next few days.
READ MORE US-Iran Peace Agreement: Oil Prices Collapse di G. Bruschi
Toned too Wall Street, with the Nasdaq 100 rallying strongly supported by the technology sector and the climate of greater risk appetite. The rally also continues SpaceX, which continues to rise on the first day of trading following Friday's mega IPO, reaching the dollars 174. However, a negative signal also comes from overseas: theEmpire State Index fell to +5,7 points in June from +19,6 in May, well below expectations, indicating a slowdown in manufacturing activity, with a decline in new orders and deliveries.
In Milan, the sectors most sensitive to the decline in energy prices and the improving macroeconomic environment dominate. Stellantis e Classic Ferrari for sale, which celebrates the Lewis Hamilton's first victory with the Maranello team, Together with Buzzi and industrial stocks. The banking sector also performed well, with purchases on Banco Bpm, UniCredit, and Intesa Sanpaolo, while the issue of risk surrounding MPS remains central. In the spotlight too Unicredit, who reaffirmed the correctness of theoperation on Commerzbank. Updates its highs GeneraliOn the other hand, energy stocks are suffering: Eni, Tenaris and Saipem They are among the worst performers on the stock market, penalized by the sharp drop in crude oil prices which reduces short-term margin prospects.
The improvement in the picture is also reflected in the currency and safe haven assets: theEuro strengthens above $1,16, while the dollar loses ground. Thegold rises over 2%, returning above the $4.300 an ounce, supported by the decline of the greenback and the repositioning of investors, while also thesilver is on the rise.
On the bond market it BTP-Bund spread drops to around 70 basis points, with the Italian 10-year yield falling around 3,65 %. In Italy it also starts placement of the new BTP Italia Yes, indexed to inflation and aimed at retail.
