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Market Update: Italian Shares End Subdued
The FTSE MIB closed 54 points or 0.2% lower at a one-week low of 25,714, in a mixed day for European markets, as investors digested hawkish signals from Fed officials, who were mulling to start hiking interest rates as soon as 2023, which is at least a year earlier than the prior deadline. On the corporate side, Stellantis gained 0.3% on news that car sales in Europe jumped 74% on an annual basis in May to 892 thousand registrations, from which the Franco-Italian carmaker grabbed a 22.4% market share. On the pandemic front, Italy is set to drop the mandatory curfew on most regions starting next week, while the Italian government plans to drop the mandatory wear of the face masks by mid-July. [/s2If]
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