European markets rise, Milan trails before ECB decision
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European stock markets opened the session on a positive note, with most indices posting modest gains, while Milan's Piazza Affari trailed, trading flat around the previous day’s levels.
All eyes are on Frankfurt today, as investors await the European Central Bank's decision on interest rates. Analysts largely expect a 25 basis point cut—the eighth since early 2023—driven by inflation data that suggests room for further monetary easing. On the macroeconomic front, Germany's factory orders for April rose by 0.6% month-on-month, falling short of expectations. The figure follows a revised 3.4% increase in March, according to the federal statistics office, Destatis.
The euro held steady against the dollar at 1.142, while gold dipped slightly by 0.19%. Oil prices showed mild gains, with Light Sweet Crude up 0.40%. The spread between Italian BTPs and German Bunds narrowed to 90 basis points, as the Italian 10-year yield dropped to 3.40%. Across major European indices, Frankfurt was up 0.17%, Paris advanced 0.19%, and London edged just 0.03% higher.
In Italy, the FTSE MIB was nearly unchanged, down by 0.01%, with the broader FTSE Italia All-Share flat at 42,571 points. The FTSE Italia Mid Cap rose 0.35%, and the FTSE Italia Star gained 0.43%.Among large-cap performers, Buzzi rose 1.06%, followed by Interpump (+0.98%), Stellantis (+0.70%), and Amplifon (+0.67%). On the downside, Italgas dropped 1.09%, Snam fell 1.07%, Enel slipped 0.80%, and Campari declined 0.74%.
In the mid-cap space, top gainers included Italmobiliare (+2.28%), Fincantieri (+1.63%), Carel Industries (+1.61%), and Juventus (+1.30%). Meanwhile, ERG led the decliners, down 1.17%, followed by Ascopiave (-1.11%), MARR (-0.85%), and SOL (-0.63%).
All eyes are on Frankfurt today, as investors await the European Central Bank's decision on interest rates. Analysts largely expect a 25 basis point cut—the eighth since early 2023—driven by inflation data that suggests room for further monetary easing. On the macroeconomic front, Germany's factory orders for April rose by 0.6% month-on-month, falling short of expectations. The figure follows a revised 3.4% increase in March, according to the federal statistics office, Destatis.
The euro held steady against the dollar at 1.142, while gold dipped slightly by 0.19%. Oil prices showed mild gains, with Light Sweet Crude up 0.40%. The spread between Italian BTPs and German Bunds narrowed to 90 basis points, as the Italian 10-year yield dropped to 3.40%. Across major European indices, Frankfurt was up 0.17%, Paris advanced 0.19%, and London edged just 0.03% higher.
In Italy, the FTSE MIB was nearly unchanged, down by 0.01%, with the broader FTSE Italia All-Share flat at 42,571 points. The FTSE Italia Mid Cap rose 0.35%, and the FTSE Italia Star gained 0.43%.Among large-cap performers, Buzzi rose 1.06%, followed by Interpump (+0.98%), Stellantis (+0.70%), and Amplifon (+0.67%). On the downside, Italgas dropped 1.09%, Snam fell 1.07%, Enel slipped 0.80%, and Campari declined 0.74%.
In the mid-cap space, top gainers included Italmobiliare (+2.28%), Fincantieri (+1.63%), Carel Industries (+1.61%), and Juventus (+1.30%). Meanwhile, ERG led the decliners, down 1.17%, followed by Ascopiave (-1.11%), MARR (-0.85%), and SOL (-0.63%).