Piazza Affari closes with +0.3%, STM and Brunello Cucinelli do well


European stock markets are mostly positive, while Wall Street shows little movement after the new records and the S&P 500 is just a touch away from 5,000 points. At Piazza Affari, the Ftse Mib ended with a gain of 0.3% at 31,064 points, with the focus primarily on the quarterly reports.

STM in the spotlight (+3.5%), also thanks to better-than-expected reports and forecasts from Arm Holdings. Brunello Cucinelli also performed well with historic highs (+3.5%), while Banca Generali fell behind on the results (-2.5%). Banco Bpm and Banca Mediolanum were among the boards that approved the quarterly reports today.

A day lacking macroeconomic insights, with only US jobless claims data falling for the first time in three weeks. Meanwhile, Richmond Fed President Thomas Barkin reiterated that policymakers will be patient with rate cuts.

Regarding the ECB, chief economist Lane signaled that more evidence of a decline in inflation was needed to continue cutting funding costs. The ECB’s economic report was also published today.

When it comes to bonds, the BTP Bund spread continues to move in a narrow range and settles at 157 basis points, with the yield on the Italian 10-year bond rising to 3.93% and that of the Bund rising to 2.35%, while the of the 10-year US bond rises in the Treasury to 4.16%.

Among commodities, Brent oil topped $81 a barrel after three days of gains, while on Forex, the euro/dollar exchange rate stabilized at 1.076 and the dollar/yen rose to 149.

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