Let’s take a look at what happened in the markets today. Despite a fair amount of uncertainty, European stock exchanges showed remarkable resilience. In Italy, the FTSE MIB climbed about 0.96% to close at 43,484.24 points, making it one of the day’s top-performing indices. Elsewhere in Europe, the Bel20 gained 0.57%, the CAC 40 advanced around 1.1%, the DAX 40 rose by roughly 1%, and even the FTSE 100 added about 0.7%. Overall, European markets ended the session in positive territory, with a generally upbeat sentiment.
On the Italian market, Prysmian stood out as one of the strongest performers of the day, gaining over 4% (around +4.25%) and leading the ranking. Leonardo also did well, up about 2.41%, largely supported by the successful renegotiation of a credit line tied to ESG criteria. On the downside, Stellantis struggled a bit, falling about 1.23%, as the auto sector was weighed down by profit warnings. Among small and mid-cap stocks, there were also some strong moves: Avio jumped nearly 18%, and Fincantieri reached a new record high with a rise of around 1.4%.
Today’s market rally was driven by several key factors. First, even though German industrial production fell more sharply than expected and the automotive sector remains under pressure, markets were not fully derailed by the weak data. Second, with global risk sentiment rising, gold prices surged past $4,000 per ounce, attracting substantial capital flows. In addition, despite the ongoing U.S. government gridlock, Wall Street continues to climb, supported by expectations of a more accommodative monetary policy and possible rate cuts. Finally, several positive corporate developments such as successful loan renegotiations, new financing agreements, and restructurings provided catalysts for multiple stocks.
In summary, European markets showed strong resilience today, with a “bullish relay effect” visible across sectors. However, this rally is driven more by sentiment and selective opportunities than by solid macroeconomic fundamentals. In the short term, the market is likely to continue fluctuating between “weak data + policy expectations + company news.” Going forward, investors should keep a close eye on:
- ECB and central bank statements,
- industrial/manufacturing/automotive data in Germany, France, and Italy,
- Fed policy decisions, and
- spillover effects from Wall Street.
At the same time, the divergence between sectors and stocks could widen, making careful position management and strategic opportunity selection increasingly crucial.