Stock Markets Today, June 24. Truce in Iran, Gas and Oil Prices Collapse
After the US attacks in Iran over the weekend, there were fears of a very negative reaction from the markets. Instead, Wall Street closed in the green, the price of gas and oil fell despite a rising start, and the reversal was accentuated by Tehran's attacks on American bases in the region. The truce announced by Trump could lead to greater easing on the main trading platforms, and the price of energy goods is already falling further. As for macro data, June's data on the confidence of German entrepreneurs and American consumers are expected today.
Tim, shareholders say no to board of directors “cuts” and list threshold increase
Tim shareholders approve the financial statements and resolutions on remuneration. Approximately 54.70% of the company's ordinary capital participated in the meeting, which was held behind closed doors (by delegating to the designated representative, ed.). The meeting approved, among other things, the proposal to modify Tim's corporate purpose, but the proposal to reduce the maximum number of directors did not pass (with 65.96% of votes in favor, 34.01% against and 0.02 abstentions), nor the modification of the percentage of share ownership for the legitimacy to present the lists; the modification of the methods and criteria for the distribution among the lists of directors to be elected.
Tajani: “700 billion export target even if the picture is complex”
“Despite a complex international framework, my goal is to reach 700 billion in exports by the end of the legislature". This was reiterated by the Minister of Foreign Affairs, Antonio Tajani, in a message read during the 2025 Public Assembly of Cosmetica Italia, entitled "The cosmetics industry: opportunities and challenges of a key sector of Made in Italy".
Banca Akros: “No orders from Unicredit for MPS shares”
"UniCredit has not given Banca Akros any order to acquire a stake in MPS under the ABB procedure". This is what Banca Akros states in a note in response to the article published online today by the Financial Times entitled "Monte dei Paschi sale in Italy sparks EU attention after global investors remained on the sidelines" of which it denies the part relating to the offers made by some institutions and the response that was allegedly given to them.
Hoekstra: “No more energy dependence, move forward with our plans”
"Regardless of what is happening in all the geopolitical theaters of the world, let's not be lured into a false sense of security." This was stated by the European Commissioner for Climate, Wopke Hoekstra, speaking at the Europe Forum in Brussels, specifying that the narrative about cheap gas from Russia has long led people to believe that Moscow could remain a reliable supplier. "When the war started, it was one of the first things Putin used to threaten us. And not once, but twice, then three times," he specified. "Never again this kind of dependence, let's continue with our energy plans for the future," he concluded.
Mps and Mediobanca soar after media on ECB's approval of takeover bid
Mps and Mediobanca are running on the stock exchange after the news that the ECB has given the green light to the takeover bid by Mps on Mediobanca. According to what was anticipated by Reuters , the supervisory board of the European Central Bank has given the green light to the public exchange offer of the Sesene bank on Piazzetta Cuccia. The decision, adopted through a written procedure, is now awaiting formal ratification by the ECB's governing board, after which it will be communicated to Mps. At the moment the two institutions involved are not commenting.
The estimated times by the bank's CEO, Luigi Lovaglio, at the meeting in April when the green light arrived, by a large majority, of the shareholders for the capital increase to service the OPS were precisely for the end of June, beginning of July. At the moment Banca Mps is flying at +5.63% to 7.302 euros per share, and Mediobanca is up 4.05% to 19.910 euros per share.
Meanwhile, the Financial Times has revealed that the European Commission is examining the Italian government's sale of MPS shares last year, following claims that large investors were excluded from the bidding process.
French Antitrust Blocks Tesla's Deceptive Business Practices
The French fraud watchdog announced that it had "ordered" Tesla France to "cease its deceptive commercial practices" following an investigation that "has brought to light several shortcomings and infringements that are harmful to consumers and contrary to the law." In a press release, the Directorate-General for Competition, Consumers and Fraud Control (DGCCRF) specifically cites "sales contracts without a date, term or place of delivery of the vehicle and without mention of payment on credit," "payments requested before the end of the withdrawal period that consumers benefit from when they finance their purchase with an assigned loan," and "the absence of a receipt in the case of partial payment in cash."
Istat, sales down in the third quarter of 2024
In the third quarter of 2024, there were 209,630 notarial sales agreements and other agreements relating to onerous conveyancing deeds for real estate units. The percentage change calculated on the seasonally adjusted data is equal to +1.5% compared to the previous quarter, while the annual change calculated on the raw data is -0.2%. This is what Istat reports. In the economic comparison, the institute explains, sales in the housing sector are increasing in the Islands (+3.9%), in the North-West (+2.5%), in the North-East (+1.6%) and in the South (+1.2%), while they are substantially stable in the Centre (-0.1%).
Sales of commercial properties are decreasing in the Centre (-4.5%), in the South (-1.3%) and in the North-East (-0.7%), while they are increasing in the Islands (+1.2%) and almost unchanged in the North-West (+0.2%). According to Istat, 94% of the agreements stipulated concern the transfer of ownership of residential properties (196,969), 5.7% for commercial use (11,966) and 0.3% for special use and timeshare (695).
“ECB gives green light to MPS takeover bid for Mediobanca” (Reuters)
Antitrust fines Eni for Mater-Bi bags
The Antitrust Authority has fined Novamont €30.36 million and €1.7 million - jointly with its parent company Eni - for abuse of a dominant position from at least January 1, 2018 to December 31, 2023. The company has developed a compliant product, called Mater-Bi, acquiring a dominant position in the national market for the production of bioplastics for shopping bags and ultra-light bags.
Chinese stocks rise
Chinese stock markets closed higher today, with the Shanghai index up 1.15% at 3,420.57 points. The Shenzhen index closed up 1.68% at 10,217.63 points.
Asian stocks close positively
In Tokyo, the Nikkei rose 1.3% to over 38,800 points, while the Topix rose 1.2% to 2,794 points. Chinese markets also rose sharply, with Shanghai up 1.15% to 3,420.57 and Shenzhen up 1.68% to 10,218 points. In Hong Kong, the Hang Seng soared 2.07% to 24,179.50 points. The Kospi in Seoul jumped 2.96% to 3,103.64 points.
Germany, business confidence rises
German business confidence rose to 88.40 points in June from 87.50 in May and above the 88.2 points expected by the market.
Mfe, assembly approves capital increase
The extraordinary shareholders' meeting of Mfe-Mediaforeurope held today resolved to increase the amount of the so-called authorized share capital of the Company by amending the Mfe articles of association. The company reported this in a note. More specifically, as already indicated in the explanatory report of the board of directors of Mfe to the Meeting, the increase in question concerns only the ordinary shares of category "A" of the Company and involves the increase of the total authorized share capital of Mfe to 173,676,622.14 euros. The voting report and the minutes of the Meeting will be made available in accordance with the applicable regulations in force.
Stock Exchange, Milan opens with a strong rise
Piazza Affari opens with a strong rise. The Ftse Mib index gains 1.58% to 39,452 points.
Btp-Bund spread falls to 97
The spread between BTPs and Bunds started the session in decline, with news of the Iran-Israel truce starting well below the 100 basis point threshold. At the start of the session, the yield spread between the benchmark 10-year BTP and the German equivalent maturity is indicated at 977 basis points, from 100 points at yesterday's closing. The yield on the benchmark 10-year BTP is also falling, starting at 3.48%, from 3.50% at the closing the day before.
Gold down to 3,322
Gold prices are falling on Asian markets after the easing of tensions between Israel and Iran and the prospect of a truce. The spot price is down 1.36% to $3,322 an ounce. The August contract is down 1.61% to $3,340.
Fed attacks Powell again: "Stupid and stubborn"
"I hope Congress can actually convince this stupid, stubborn person." This is what the President of the United States, Donald Trump, wrote on Truth, who once again puts the head of the Federal Reserve, Jerome Powell, in his crosshairs. "We will pay for his incompetence for many years to come," he added. "The Board of Directors should act. Make America great again."
Iran, oil price drops again
The collapse of oil prices continues after the temporary ceasefire between Israel and Iran confirmed this morning by Trump. On Brent, futures are trading at $68.26 per barrel (-4.5%), while on WTI they are at $65.33 (-4.64%).
Iran Truce, Gas Prices Collapse
The developments in the war in Iran drag down the price of gas beyond all expectations. This morning, at the TTF in Amsterdam, futures are trading at 36.25 euros per megawatt hour, with a collapse of 10.54%.
Asian stocks rise
Asian stock markets are rising strongly, especially Seoul and Hong Kong, driven by Trump's announcement of a temporary ceasefire between Israel and Iran, which has increased risk appetite among investors. The gains are also being driven by the rise on Wall Street. In Tokyo, the Nikkei is up +1.17%. Chinese markets are also up sharply. Shanghai is up +1.14%. Shenzhen is up 1.5%. In Hong Kong, the Hang Seng is up +2.09%. Seoul's Kospi is up +2.75%.
repubblica
