Ferrari's recent results significantly surpassed expectations, driven by improved pricing and personalization, which offset a decline in shipments due to model changeovers. Bernstein analysts noted a slight increase in full-year guidance for revenue, Ebitda, and EBIT, with no change to margin guidance. Despite concerns about the luxury consumer, the automaker's strong performance and raised outlook were positive, though shares saw a minor dip.

In contrast, Stellantis reported second-quarter EBIT well below consensus, primarily due to weakness in North America. RBC Capital Markets highlighted elevated dealer inventories, especially in the U.S. The firm anticipates a significant drop in second-half EBIT, likely reflecting discounting, new product launches, and clearing older inventory, alongside higher tariffs.

Global air passenger demand decreased by 1.7% in June, according to the International Air Transport Association (IATA). This decline was largely attributed to the conflict in the Middle East, with notable drops in demand in the Middle East, Asia-Pacific, and North America. While Africa and Latin America saw increases, IATA Director General Willie Walsh cautioned that renewed tensions and rising fuel prices would continue to impact the industry and travelers.