Piazza Affari closes down (-0.58%), Mediobanca down after Mediolanum exit

European stock markets close down, after three sessions of growth. Milan -0.58 percent, in Europe Frankfurt is bad (-1.15%), Paris almost unchanged, while London is slightly up (-0.31%). The governor of the Bank of England, Andrew Bailey, said today in an interview that interest rates should gradually fall.

Wall Street is mixed: the Dow Jones index is up (+0.90%), while the Nasdaq is down, -1.05%. Tesla is dragging the technology stock index down. -5%. The new clash with President Trump is weighing heavily. Musk criticized the Big Beautiful Bill tax package, calling it a "clientele bill" that contains "absurd items". The president responded on Truth: "Elon could receive more subsidies than any other human being in history, and without subsidies he would probably have to close up shop and go home to South Africa. No more rocket launches, satellites or electric car production and our country would save a fortune. Maybe we should ask the Doge to look into this carefully?"

Among the stocks at Piazza Affari, the biggest increase was for Campari (+3.43%), the biggest decrease for Leonardo (-5.00%). Mediobanca stands out, -4.21% after Banca Mediolanum (-2.12%) sold its shares. It had been a shareholder of Mediobanca since 2000.

On the exchange front, today the euro exceeded 1.18 dollars, before returning stable to 1.1772. In the first half of the year there was the biggest drop since 1973. The BTP/Bund spread is stable, equal to 90 basis points, the yield of the 10-year Italian BTP fell by 2 basis points, to 3.47%. On the energy front, oil is rising: Brent is trading at 67.17 dollars a barrel (+0.60%), the American WTI at 65.65 dollars (+0.84%).