European and US Markets Rally as Economic Data Signals Growth, Gold and Oil Prices Decline
Milan, Italy – February 2, 2026 – European stock markets experienced a positive start to the week, bolstered by encouraging economic data from both sides of the Atlantic. Together, gold and oil prices faced downward pressure amid shifting geopolitical dynamics and strengthening dollar.
The Milan stock exchange led the gains, closing up 1.05%, mirroring positive trends observed in London and Frankfurt.The Italian banking sector demonstrated particular strength, with the FTSE All Share Banks index rising by a notable 1.74%. Intesa Sanpaolo emerged as a key performer, reporting 2025 profits of €9.3 billion, a 7.6% increase. The bank’s ambitious new industrial plan projects revenues of €11.5 billion by 2029, with an anticipated 95% of profits distributed to shareholders.
Across the Atlantic, US markets also responded favorably to positive economic indicators. The ISM Manufacturing index registered 52.6 in January – the highest reading since 2022 – exceeding expectations and signaling a return to expansion after December’s 47.9. This data fueled gains on Wall Street, with the S&P 500 and Nasdaq indices rising approximately 0.5%, and the Dow Jones Industrial average climbing nearly 1%.
Though, the commodities markets presented a contrasting picture. Gold continued its recent decline, falling 3.5% to just under $4,700 per ounce, representing a 13% decrease since Thursday. Silver experienced even sharper losses, plummeting 6.5% today and a considerable 31% since friday.
Oil prices also fell sharply, dropping 4.70% following confirmation of diplomatic discussions between the United States and Iran. Brent crude is currently trading at $66.20 per barrel. This progress suggests easing supply concerns and contributed to the downward pressure on oil prices.
Currency markets also saw movement, with the US dollar strengthening against the euro. As of today’s close, one euro is valued at $1.1803, a decrease from last week’s high of $1.20.
Keywords: European Stock Markets, US Stock Markets, Intesa Sanpaolo, ISM Manufacturing Index, Gold Prices, Oil Prices, Brent Crude, Dollar Strength, Economic Growth, Market analysis, Financial News, Stock Market Update, Investment Trends.
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