欧元/匈牙利福林 (EURHUF) 加自选

欧洲股市周五收盘微涨，权重股金融板块的强势抵消了其他板块的涨跌互现，而市场继续评估本周的主要货币政策决定。欧元区STOXX 50指数上涨0.2%，至5467点，泛欧STOXX 600指数持平于555点。日本央行如预期般维持利率不变，但宣布计划开始解除其持有的大量交易所交易基金，令市场感到意外。交易员们还监测了美中两国总统特朗普和Xi之间的通话，两国领导人在下个月的面对面会晤前表示在多个问题上取得了进展。桑坦德银行、法国巴黎银行和北欧银行股价上涨近2%，为银行业设定了步伐。与此同时，空中客车和赛峰集团分别上涨1.4%和2.3%。反过来，运费暴跌促使穆勒-马士基集团暴跌6%。斯托克50指数本周上涨1.4%，而斯托克600指数持平。

European stocks closed slightly higher on Friday as strength in the heavyweight financial sector offset mixed movements elsewhere, while markets continued to assess major monetary policy decision over the week. The Eurozone's STOXX 50 rose 0.2% to 5,467 and the pan-European STOXX 600 was flat at 555. The Bank of Japan left interest rates unchanged as expected but surprised markets by announcing plans to begin unwinding its massive exchange-traded fund holdings. Traders also monitored the call between US and Chinese Presidents Trump and Xi, with both leaders signaling progress on multiple subjects ahead of their face-to-face meeting next month. Santander, BNP Paribas, and Nordea rose nearly 2% to set the pace for banks. In the meantime, Airbus and Safran advanced 1.4% and 2.3% In turn, plunging freight rates drove Moeller Maersk to plunge 6%. The STOXX 50 added 1.4% on the week, while the STOXX 600 was flat.

周五，富时MIB指数收于42312点，几乎持平。此前一周，央行的决定占据了主导地位，包括美联储自12月以来首次降息，将利率下调25个基点。在企业新闻方面，忠利银行股价下跌，此前该公司和法国银行BPCE同意取消与停滞的资产管理合并谈判相关的5000万欧元分手费，这笔交易现在被认为不太可能。随着忠利股东基础的变化，反对声音越来越大，Mediobanca是忠利最大的投资者。Mediobanca的董事会和首席执行官周四辞职，此前他们在收购战中输给了Monte dei Paschi di Siena，后者最近通过现金和股票收购获得了这家商业银行62%以上的股份。Mediobanca下跌1.8%，MPS下跌1.4%，而Unipol（+2.9%）、BPER Banca（+1.4%）和BCA POP Sondrio（+1.4%.）上涨。

The FTSE MIB closed nearly flat at 42,312 on Friday after a week dominated by central bank decisions, including the US Federal Reserve’s first rate cut since December, lowering interest rates by 25 bps. In corporate news, Generali slipped after the company and French bank BPCE agreed to scrap a €50 million break-up fee tied to their stalled asset management merger talks, with the deal now seen as unlikely. Opposition has grown amid changes in Generali’s shareholder base, where Mediobanca is the largest investor. Mediobanca’s board and CEO resigned Thursday after losing a takeover battle to Monte dei Paschi di Siena, which recently secured over 62% of the merchant bank through a cash-and-share offer. Mediobanca fell 1.8% and MPS 1.4%, while Unipol (+2.9%), BPER Banca (+1.4%), and BCA POP Sondrio (+1.4%) advanced.

CAC 40指数周五小幅下跌，收于7854点，本周上涨0.3%，此前法国预算斗争和全球货币政策转变导致市场波动。在计划削减开支的阻力越来越大的情况下，总理塞巴斯蒂安·莱科尔努敦促议会批准2026年的预算。日本央行宣布计划逐步减持部分ETF，保持利率稳定，令市场感到意外。本周早些时候，美联储自2024年12月以来首次降息，而英格兰银行则保持政策不变。金融股领涨市场，安盛、法国巴黎银行、法国农业信贷银行和法国兴业银行各上涨0.8%至1.5%。相比之下，欧莱雅、泰雷兹、凯捷和阳狮对该指数的权重在2.2%至3.3%之间。

The CAC 40 edged marginally lower to close at 7,854 on Friday, up 0.3% for the week after a volatile stretch driven by France’s budget fight and shifting global monetary policy. Prime Minister Sébastien Lecornu pressed for parliamentary approval of the 2026 budget amid mounting resistance to the planned spending cuts. The Bank of Japan held rates steady and surprised markets by announcing plans to gradually unwind parts of its ETF holdings. Earlier in the week the Federal Reserve cut rates for the first time since December 2024 while the Bank of England kept policy on hold. Financials led the market higher with AXA, BNP Paribas, Crédit Agricole and Société Générale each adding between 0.8% and 1.5%. By contrast L’Oréal, Thales, Capgemini and Publicis weighed on the index, falling between roughly 2.2% and 3.3%.

在惠誉即将进行主权评级审查之前，意大利10年期政府债券收益率升至3.56%，为两周来的最高水平。在最近欧元区外围经济体西班牙和葡萄牙评级上调后，在政治稳定和公共财政健康的支持下，该机构普遍预计将意大利的信用评级上调一个档次。最近几周，意大利债券与德国和法国的息差收窄，反映出财政状况有所改善。经济部长吉安卡洛·乔尔盖蒂表示，意大利今年的预算赤字可能会降至欧盟3%的门槛以下，比计划提前一年。本周，由于德国债务发行增加和央行政策分歧，欧元区更广泛的政府债券仍不稳定。美联储在暂停九个月后降息，而日本央行保持稳定，但表示对今年晚些时候加息持开放态度。英格兰银行也保持借贷成本不变。

Italy’s 10-year government bond yield rose to 3.56%, its highest level in two weeks, ahead of Fitch’s upcoming sovereign rating review. The agency is widely expected to lift Italy’s credit rating by one notch, supported by political stability and healthier public finances, following recent upgrades to fellow peripheral eurozone economies Spain and Portugal. Italian bond spreads versus Germany and France have narrowed in recent weeks, reflecting fiscal improvement. Economy Minister Giancarlo Giorgetti has suggested that Italy’s budget deficit could fall below the EU’s 3% threshold this year—one year earlier than planned. Broader eurozone government bonds remained volatile this week amid increased German debt issuance and diverging central bank policies. The Federal Reserve cut rates after a nine-month pause, while the Bank of Japan held steady but signaled openness to a hike later this year. The Bank of England also kept borrowing costs unchanged.