富时MIB指数周二上涨0.8%，收于40230点，连续第四个交易日上涨，徘徊在2007年11月以来的最高水平附近。美国和中国宣布了一项为期90天的协议，取消对彼此的高额关税，为担心长期贸易摩擦对经济影响的投资者提供了暂时的缓解，缓解了全球贸易紧张局势，提振了市场情绪。与此同时，投资者消化了4月份美国通胀数据，该数据低于预期，表明现有关税的全部影响尚未渗透到消费者价格中。这引发了人们的猜测，即美联储可能会采取行动来抵消潜在的不利因素，交易员现在预计到年底将降息约55个基点。在企业方面，该指数因锡耶纳银行（上涨4.2%）、依维柯（3.9%）、普睿司曼（3.4%）和Stellantis（2.8%）的强劲表现而上涨。

The FTSE MIB rose 0.8% to close at 40,230 on Tuesday, marking its fourth consecutive session of gains and hovering near its highest level since November 2007. Market sentiment was buoyed by easing global trade tensions after the United States and China announced a 90-day agreement to roll back steep tariffs on each other, offering temporary relief to investors concerned about the economic fallout of prolonged trade frictions. Meanwhile, investors digested April US inflation data, which came in softer than expected—suggesting that the full impact of existing tariffs has yet to filter through to consumer prices. This fueled speculation that the Federal Reserve may act to counterbalance potential headwinds, with traders now pricing in roughly 55 basis points of rate cuts by year-end. On the corporate front, the index was lifted by strong performances from Banca Monte dei Paschi di Siena (up 4.2%), Iveco (3.9%), Prysmian (3.4%), and Stellantis (2.8%).

富时MIB指数周二早盘上涨0.6%，至40100点以上，连续第四个交易日上涨，徘徊在2007年11月以来的最高水平。在美国和中国宣布达成协议，在90天内降低对彼此的高额关税后，全球贸易紧张局势的缓解支撑了市场情绪。与此同时，投资者正将注意力转向今天晚些时候公布的美国消费者通胀数据，寻求美联储利率轨迹的线索。在企业方面，Stellantis（6.8%）、Banca Monte dei Paschi di Siena（3.9%）、普睿司曼（2.5%）和Mediobanca（1.5%）的涨幅显著。

The FTSE MIB rose 0.6% to above 40,100 in early trading on Tuesday, marking its fourth consecutive session of gains and hovering at its highest level since November 2007. Market sentiment was supported by easing global trade tensions, following the announcement of a deal between the U.S. and China to reduce steep tariffs on each other for 90 days. Meanwhile investors are turning their focus to U.S. consumer inflation data due later today, seeking clues on the Federal Reserve’s interest rate trajectory. On the corporate front, notable gains were seen from Stellantis (6.8%), Banca Monte dei Paschi di Siena (3.9%), Prysmian (2.5%), and Mediobanca (1.5%).

在米兰，富时MIB指数周一上涨552点，涨幅1.40%。涨幅最大的是Stellantis N.V.（7.88%）、意法半导体（6.72%）和依维柯集团（6.55%）。

In Milan, the FTSE MIB Index went up by 552 points or 1.40 percent on Monday. Top gainers were Stellantis N.V. (7.88%), STMicroelectronics (6.72%) and Iveco Group (6.55%).

意大利10年期英国国债收益率飙升至3.7%，为4月16日以来的最高水平，因为围绕全球贸易谈判的乐观情绪和地缘政治紧张局势的缓解提振了对风险资产的需求。在日内瓦举行富有成效的会谈后，美国和中国达成了为期90天的关税削减协议，标志着上个月加剧的贸易冲突显著缓和。根据该协议，美国对中国商品的关税将从145%降至30%，而中国将把对美国进口商品的关税从125%降至10%。乌克兰总统泽连斯基表示愿意周四在土耳其会见俄罗斯总统普京，而印度和巴基斯坦之间脆弱的停火仍在继续，这增加了积极的势头。与此同时，货币市场预计欧洲央行的存款便利利率将在年底前降至1.75%，恢复到4月中旬的水平，此前欧洲央行表示可能降息以应对美国关税的经济影响。

The yield on Italy’s 10-year BTP surged toward 3.7%, its highest level since April 16, as optimism surrounding global trade negotiations and easing geopolitical tensions bolstered demand for risk assets. The US and China reached a 90-day tariff reduction agreement following productive talks in Geneva, marking a significant de-escalation of the trade conflict that had intensified last month. Under the deal, US tariffs on Chinese goods will decrease from 145% to 30%, while China will cut tariffs on US imports from 125% to 10%. Adding to postive momentum, Ukrainian President Zelenskiy expressed willingness to meet Russian President Putin in Turkey on Thursday, while a fragile ceasefire persists between India and Pakistan. Meanwhile, money markets are pricing in the ECB’s deposit facility rate at 1.75% by year-end, returning to mid-April levels before the ECB signaled potential rate cuts in response to the economic impact of US tariffs.