Can Aston Martin Roar Ahead of Rivals in IPO?: Taking Stock

Euro Stoxx 50 futures are up 0.4%, rising along with the euro, after Corriere della Sera reported the Italian government will bow to EU pressure and reduce its budget deficit targets. But let’s be honest, even with Italian 10-year yields at their highest level since 2014, investors are far from being in panicking mode yet. After months of outflows, European equities might finally show some resilience and hope for a happy ending to the Italian drama.

Also in Italy, results of the 5G auction came out last night, and mobile networks operators paid a very steep price for the frequencies. Telecom Italia, Vodafone and Iliad are the stocks to watch, with Bernstein saying there are “arguably no industrial winners” in the auction, barring the Italian government, Il Sole added Telecom Italia now needs to immediately find EU480m and another EU1.7b in 2022.