Today's stock markets, September 18. Europe is positive after the Fed's (expected) move. All eyes are on the BoE.
MILAN – Europe is gaining momentum after the Federal Reserve cut rates by 25 basis points last night, as expected, and Governor Jerome Powell did not rule out further action in 2025. Today it is the Bank of England's turn, but it is expected to keep interest rates steady.
In stocks, the semiconductor sector is surging, following the rally in China after the Financial Times reported that Beijing has banned tech companies from buying Nvidia chips . Attention remains high on the banking sector, particularly Unicredit following statements by CEO Andrea Orcel and Mediobanca on the day investors expect the board of directors to resign . Meanwhile, the investment bank's top managers continue to sell shares, starting with CEO Alberto Nagel, who is listing another million shares, netting approximately €21 million.
Mfe, PPF representatives resign
ProSiebenSat 's Supervisory Board is making room for the addition of new representatives from MediaForEurope , which, following the public offering, holds 75.61% of the capital. Directors Klara Brachtlova , representing PPF , and independent Christoph Mainusch have resigned effective today. Brachtlova had sat on the Supervisory Board since 2023, but PPF, which had initially launched a partial takeover bid for the German media group, exited the shareholding at the end of August by selling its stake in the MFE takeover bid. Mainusch has decided to step down, the statement reads, thus allowing for proportionate representation of MFE after the offer has been settled. ProSiebenSat, the statement continues, intends to proceed with the court application for the appointment of new members of the Supervisory Board. Regarding the future composition and replacement of the two Board seats, "ProSiebenSat intends to appropriately reflect the new shareholder structure, with MFE as the clear majority shareholder." Pending the full composition of the Supervisory Board to nine members, the current Supervisory Board is composed of seven directors, four of whom represent the Italian shareholder.
Von der Leyen: "Renewables and nuclear power for energy autonomy"
"Prices have fallen significantly since the energy crisis, but many companies continue to struggle with excessively high energy costs. The key to energy affordability and security is energy produced here in Europe, which keeps us independent from the volatile global market. This means renewable energy and nuclear power. Europe has made visible progress. 72% of electricity generated in the EU comes from low-carbon energy—in Germany, the figure is 63%. And this is bearing fruit," said Commission President Ursula von der Leyen, speaking at the high-level meeting with German business associations.
OVS celebrates first six-month results and a strong start to the third quarter
OVS is celebrating its first-half results and a strong start to the third quarter, with its stock rising 7.66% to €4,406, in a market up 0.4%. OVS closed the first half of 2025 (February-July) with net sales up over 4% to €793 million. Adjusted trading margin exceeds 60% of sales, while EBITDA reaches €102 million (+14.3%), or 12.8% of sales. Adjusted net profit is €46 million (+32%).
Europe remains positive, the euro continues to rise
European stock markets confirmed their initial gains following the Fed's rate cut and the prospect of further reductions. Frankfurt (+1.11%) and Paris (+0.88%) expanded, while Milan (+0.36%) halved its gains due to sales of Campari (+0.6%), Unicredit (+0.64%), and Nexi (+0.53%). At the forefront, on the other side of the spectrum, ST (+2.6%) and Prysmian (+2.19%) continued to perform, along with MPS (+1.69%) and Mediobanca (+1.4%). The latter are keeping a close eye on the Piazzetta Cuccia board of directors, which is expected to resign from CEO Alberto Nagel and the board.
Mediobanca rises on the stock market alongside MPS on the day of the board meeting.
MPS and Mediobanca lead the Italian stock market on the day of the Piazzetta Cuccia board meeting, where CEO Alberto Nagel and the entire board are expected to resign following Rocca Salimbeni's successful takeover bid. Monte dei Paschi rose 2.6% to €8.26. Mediobanca rose 2.35% to €21.76, while the FTSE MIB rose 0.65% to 42,215 points.
Oil prices fall in Asia, with WTI falling back below $64.
Oil prices fell in Asian markets, extending yesterday's losses as traders weighed weekly US inventory data and the expected Fed rate cut. WTI futures fell 0.42% to $63.68 a barrel, while Brent crude futures fell 0.33% to $67.72. The EIA report showed that crude inventories fell by 9.3 million barrels last week due to rising exports, although distillate inventories reached their highest level since January. Furthermore, the US central bank cut rates by a quarter point, as expected, and signaled further reductions to support a weakening labor market. However, despite the dovish shift that could boost demand, markets remain vigilant as this could also signal growing economic risks for a major oil consumer.
China ends antitrust probe into Google ( Financial Times )
China is closing an antitrust investigation into Google, as trade talks between Beijing and Washington intensify over TikTok and Nvidia. The Financial Times reports, citing two people familiar with the matter. China's State Administration for Market Regulation (SAMR) has decided to drop the competition investigation it launched last February into the US tech giant, suspected of violating Chinese anti-monopoly laws, presumably related to its Android operating system. According to the FT , Google has not yet been officially informed of the decision.
Europe opens positive after the Fed, expectations for the BoE
European stock markets opened higher following the Fed's expected rate cut and ahead of today's monetary policy decision by the Bank of England. In early trading in London, the FTSE 100 index rose 0.13% to 9,220.35 points, in Frankfurt the DAX rose 0.81% to 23,537.89 points, and in Paris the CAC40 gained 0.55% to 7,829.70 points. In Milan, the FTSE MIB index rose 0.62% to 42,213.44 points.
Zuckerberg unveils new AI-powered glasses
Meta presents “super-smart” glasses with AI-powered displays that can be controlled via a bracelet that allows you to manage them with almost imperceptible movements.
Roche acquires California-based 89bio for approximately $3.5 billion
Swiss pharmaceutical giant Roche has announced an offer to acquire California-based biotechnology company 89bio, Inc., which specializes in the treatment of liver and cardiometabolic diseases, for approximately $3.5 billion (€2.9 billion). Unanimously approved by the boards of directors of both companies, the offer calls for $14.50 per share in cash and non-negotiable voting certificates with a value of up to $6.
Nagel sells additional Mediobanca shares for over 21 million
Mediobanca's top managers continue to sell shares. According to internal dealings, CEO Alberto Nagel sold another block of one million shares, netting over €21 million. CEO Francesco Saverio Vinci, as he did in recent days, sold 400,000 shares for €8.5 million, while Chairman Renato Pagliaro sold 100,000 shares for over €2.1 million. The resignation of the Piazzetta Cuccia board is expected today following MPS's successful takeover bid.
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