Contrasted European stock exchanges after days of increases triggered by the trade truce between China and the US that established a 90-day suspension of cross-tariffs to carry on further negotiations. There are no developments in relations between Washington and Brussels, while the data on US inflation below expectations published yesterday have nevertheless brought a smile to investors' faces who are now looking to the future, namely to the next numbers from which the real effect of the duties imposed by Trump will emerge.
In this context, the European stocks close mixed, with Paris which recorded the worst performance weighed down by the thud of Alstom (-15%) after the quarterly, followed by Frankfurt e London despite the performance of Burberry. Milan, +0,7% holds the 40 thousand basis points thanks to the increases of A2a, Azimut, Unipol and Tim. Salt too Unicredit: a meeting is scheduled for Thursday morning between the technicians of the Ministry of the Economy and Finance and the representatives of Piazza Gae Aulenti on the conditions of the Golden Power imposed in relation to the takeover bid for Banco Bpm.
Eyes up too Prysmian, which announced that its board of directors approved the potential issuance of a $1 billion hybrid bond that will be used to finance the acquisition of Channell Commercial Corporation and for normal business operations.
The profit taking on the other hand is striking Stellantis, after the rush of the last few days. Also in red Recordati and Buzzi. Out of the Ftse Mib, exploit of Fidia and Italian Exhibition Group.
Moving on to other markets, on the currency, after the slowdown in US inflation, the exchange rate euro/dollar moves at 1,122. On the energy front, the price of Petroleum after four days of rally with Wti above 63 dollars and Brent above 66 dollars. Prices of gas in Amsterdam.
Lo spread between BTPs and Bunds breaks the 100-point threshold and reaches its lowest level since September 2021. In the morning, the spread fell to 99,67 points, before rising again to 100,53 points. The yield on the Italian 3,68-year bond is below XNUMX%.
