Today's Stock Markets, June 27. China and the US sign an agreement on duties: European markets rise
MILAN – European stock markets are positive after the confirmation of the trade agreement on tariffs signed by the US and China . The United States has reached an agreement with China on how to speed up shipments of rare earths to the United States, according to an administration official, after Donald Trump announced the agreement with Beijing without providing details.
The People's Republic has added rare earths to its export control list. The agreement is about "how we can accelerate shipments of rare earths to the United States again," the official added. U.S. Commerce Secretary Lutnick later said that "the agreement was signed and sealed two days ago."
China announced it had "confirmed the details" of a trade deal with the United States, assuring that Washington would lift "restrictive measures" against it and that Beijing would "review and approve" products subject to export controls. "China hopes that the United States will proceed in the same direction," a spokesperson for China's Ministry of Commerce said in a statement, calling for "healthy, stable and sustainable development of Sino-US economic and trade relations."
Istat, industrial turnover rises in April: +1.5% monthly and +1.1% annual
In April, "industrial turnover, net of seasonal factors, is estimated to increase in cyclical terms by 1.5% in value and 1.6% in volume. Increases of 1.9% are recorded on the domestic market (+2.1% in volume) and 0.7% on the foreign market (+0.6% in volume). For the services sector, growth in cyclical terms is estimated at 0.5% in value and 0.4% in volume, with a positive trend both in wholesale trade (+0.4% in value and +0.9% in volume) and in other services (+0.7% in value and +0.1% in volume)." This was reported by Istat.
The seasonally adjusted indices of turnover in value referring to the main industrial groupings recorded a cyclical increase in March for consumer goods (+1.6%), for energy (+2.0%), for capital goods (+2.5%) and a more contained growth for intermediate goods (+0.5%).
Europe grows with tariffs easing, Paris +1.2%
The stock markets of the Old Continent are extending their gains by a few fractions with new hopes of a clearing up on the tariffs between Europe and the United States: the Paris list is doing well, rising by 1.2%, with Frankfurt fluctuating around a growth of one percentage point. More cautious are the stock exchanges of Amsterdam (+0.7%), Madrid (+0.6%) and London , which is rising by 0.4%, with Milan (+0.2%) partly held back by weak data on Italian consumer confidence. The Euro is still strong at 1.171 against the dollar, while the BTP-Bund spread is rising slightly to 89 basis points, still at its lowest levels since 2010. On the energy front, gas remains weak (-2% to 33.2 euros per Megawatt hour), with oil rising by around one percentage point to 65.8 dollars per barrel. In this context, on Piazza Affari, Ferrari and Prysmian stocks are rising by more than 2%, with Mediobanca which fluctuates on parity at 19.5 euros after a positive start with the plan to 2028. Weak instead Mps , which falls by 2.5% to seven euros. Slip for Amplifon , which loses 6% below the 20 euro mark.
Duties, Wall Street indices point to historic high after White House reassurances
U.S. stock futures are also up this morning, extending this week's momentum amid optimism about softer trade policy and increased confidence that the Federal Reserve will implement several rate cuts this year. Contracts linked to the S&P 500 and Nasdaq 100 are pointing to a 0.3% rise, with Wall Street possibly opening at record highs, while the Dow Jones was set to gain 150 points.
Xiaomi up 8% on Hong Kong Stock Exchange with new Yu7 e-car
Xiaomi shares jumped 8% on the Hong Kong Stock Exchange after introducing its YU7 SUV at a price 4% lower than Tesla's Model Y : 253,500 yuan, equal to just over $35,000. The move is further confirmation of the fierce competition in China's burgeoning electric vehicle market. Xiaomi, which collected 200,000 orders in just 3 minutes, is available in three versions: Standard, Pro and Max, which take their names from smartphones, the core business of the Beijing group. The Yu7 Standard is a rear-wheel drive model with a long range (830 km according to Chinese homologation); the Yu7 Pro has all-wheel drive and a base list price of 280,000 yuan; finally, the Yu7 Max is the top of the range all-wheel drive model and costs 330,000 yuan. Deliveries in China will begin at the end of June, but it is not clear when the car will be available in Europe.
Hong Kong negative, closes at -0.17%
The Hong Kong Stock Exchange closed the session with little movement, in negative territory: the Hang Seng index dropped by 0.17% , slipping to 24,284.15 points.
Asian stocks close mixed, Hong Kong -0.17%
Asian stocks ended mixed, with investors cautious ahead of the July 9 expiry of US tariffs, despite reports of a trade truce between Washington and Beijing and imminent deals with other partners. Shanghai fell 0.7% to 3,424 points, while Shenzhen gained 0.34% to 10,378 points, as mainland markets struggled due to the lack of concrete details in the new trade deal. Beijing announced that both countries had finalized the terms of the agreement reached earlier this month in London, aimed at implementing the so-called Geneva consensus. Under the agreement, China will review applications for products subject to export control rules, while the United States will lift a series of restrictive measures against China. On the data front, the Dragon's industrial profits fell 9.1% year-on-year in May, the sharpest decline in seven months, highlighting the ongoing economic difficulties. Hong Kong also fell, losing 0.17% to 24,284.15 points, while Tokyo was the mainland's leading loser as the tech sector rallied on Wall Street. The Nikkei rose 1.42% to 40,145.50 points, crossing the 40,000-point threshold for the first time in five months, posting its biggest weekly gain in nine months (+4.7%); the Topix rose 1.28% to 2,840.54 points.
Istat: Consumer confidence drops to 96.1 in June, businesses rise to 93.9
In June, the consumer confidence index is estimated to decrease from 96.5 to 96.1, while the composite business confidence index increases from 93.1 to 93.9. This is what Istat reports.
Tariffs, European auto stocks jump 2% after White House overtures
European auto stocks posted gains in early trading as investors reacted to a White House statement that the looming deadline for country-specific tariffs to take effect was "not critical" and "could be extended." The moves came even after Beijing said it had agreed with Washington on the details of a trade deal negotiated in London earlier this month. Europe's Stoxx Automobiles and Parts index, which has been sensitive to U.S. trade policy announcements this year, is trading about 2% higher . Among the sector's biggest gainers are Porsche and French vehicle parts supplier Valeo , both up 2.2%, as well as Stellantis , which gained 2%, and Mercedes-Benz , whose shares jumped 1.6%. Since April, vehicles and parts imported into the U.S. have been subject to 25% tariffs. A flat-rate 50% duty on imports from the European Union is currently suspended until July 9.
Mediobanca holds after 2028 plan
In early trading, Piazza Affari confirms its positive tone along with Europe: the Ftse Mib index rises by 0.4%, with Iveco the best among the main stocks, growing by 3.6%. Prysmian and Stellantis also do well, rising by over 2%. Mediobanca grows below one percentage point to 19.7 euros after the 2028 plan with Piazzetta Cuccia estimating to remunerate shareholders for 4.9 billion in 3 years, of which 4.5 billion in dividends and the rest with a buyback. The other banks are generally calm, with Monte dei Paschi moving around parity, generally in marginally negative territory. In the high-capitalization basket, the worst performer is Leonardo, which loses 0.6% after recent increases together with the Defense sector.
Wang Yi in Brussels for China-EU Strategic Dialogue
Chinese Foreign Minister Wang Yi will be on a visit next week, starting on Monday, June 30, which will take him to Brussels and then to Germany and France, said Foreign Ministry spokesman Guo Jiakun . Wang will be at the European Union headquarters "for the China-EU high-level strategic dialogue ". His mission will also serve to define the details of the China-EU summit in Beijing, on July 24-25, to celebrate 50 years of diplomatic relations, in the midst of bitter disputes over trade and tariffs.
Tokyo, Nikkei index (+1.43%) surpasses 40,000 points: first time in 5 months
Asian and Pacific stock markets held firm as they await clarification on US tariffs: Tokyo stock market did well, with the Nikkei index closing up 1.43%, surpassing the 40,000 point level for the first time in 5 months (40,150.79). Hong Kong stock market fell 0.4%, with Chinese stock markets flat. Seoul (-0.7%) and Sydney were also weak, closing down 0.4%.
Europe starts strong with clearing on duties, in Milan (+0.4%). Iveco runs
European stock markets have had a buoyant start, encouraged by the holding of the truce in the Middle East, with diplomatic efforts behind the scenes to bring Tehran back to the negotiating table, and by the improvement on the tariff front. On the one hand, the White House has opened up to an extension of the July 9 deadline for imposing tariffs on Europe, on the other it has announced a trade agreement with China (Commerce Secretary Howard Lutnick confirmed that the agreement was signed at the beginning of the week, without giving details). On the macro front, while in Europe a series of data is arriving (consumption, confidence, services and industry), in the US, in addition to the confidence indicator, the consumption data will be published, which includes the PCE inflation numbers, the ones preferred by the Fed as a "thermometer" of the economy: market expectations are rising, as it is starting to point to a possible rate cut in 2025 (yesterday Wall Street closed close to records). Thus Milan gains 0.4%, after the +0.56% of the first bars, with Iveco (+3.38%) and Prysmian (+2.73%) in the front row. At a faster pace Paris (+0.97%), after the upward revision of the data on consumer spending, and good Frankfurt (+0.7%), Amsterdam (+0.4%), Madrid (+0.49%) and London (+0.36%).
Asia waits for clarity on tariffs, Tokyo is good
Asian and Pacific stock markets held firm as US tariffs situation clarified, with Tokyo doing well, with the Nikkei 225 index rising one percentage point. Hong Kong stocks fell 0.4%, with Chinese stock markets flat. Seoul was weak (-0.7%) and Sydney also closed down 0.4%. Futures uncertain for the start of European markets.
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