Markets are cautious and volatile today, waiting for news on tariffs with the start of negotiations between the US and China in Washington. The European lists improve in the final, when even Wall Street seems to change pace, but without being able to move away from parity for now. At the end of one session, Piazza Affari lost almost the entire drop by 0,07% (21.203 basis points), balancing below a quarterly barrage. Ubi, +4,84%, stands at the top of the main list thanks to its people numbers beyond expectations, specularly the slow disappointment Poste -3,16% which ends in black jersey.
Partial recovery, in the Cesarini area, for bonds that move away from the highs of the day: the yield on the Italian ten-year bond is 2,62%, while the spread with the Bund rises by 1,37% to 265.50 basis points. Despite many warnings from Brussels and the Commission's not very reassuring spring estimates, the two deputy prime ministers add to the uncertainty by saying that the 3% overrun in the deficit/GDP ratio is not a problem.
In the rest of Europe: Frankfurt +0,75%, with the leap of Siemens (+5%) and the data on industrial production for March, surprisingly higher than expected; Paris +0,4%; Madrid -0,06%; London +0,15%.
Wall Street is moving cautiously, after yesterday's crash and waiting to see where the tariff negotiations with China will lead. “We will see,” tweeted Donald Trump. Meanwhile, the new tariffs at 25% (from 10%) on 200 billion Chinese goods have already been published in the US official gazette (Federal Register) and will enter into force the day after tomorrow. Like a poisoned icing on the cake, the meeting also includes the Chinese trade surplus with the US, released this morning, which rose to 21,01 billion dollars in April compared to a year ago.
The dollar suffers from the situation and weakens against a panel of currencies. The euro moves around 1,112. Mario Draghi makes fun of the Eurosceptics, speaking at the 'Generation Euro Students Awards' and to those who hypothesize a return to the previous national currencies, he says, addressing the young people in the audience, "you would simply answer with a laugh" and "by the way, I would be with you ”.
Oil rears its head with the unexpected drop in US weekly inventories: the American WTI, rises by 1,51% to 62,33 dollars a barrel; Brent increases by 1,12% and reaches 70,66 dollars a barrel. In fractional regression gold, which moves around 1282 dollars an ounce.
In Piazza Affari, purchases still reward Ferrari +2,64% after the quarterly. Well Remember +2,27%. Brilliant Juventus, +2,25%, while the possibility of a farewell from Massimiliano Allegri looms (according to rumors he would have received a generous offer from Paris Saint Germain) and there are those who speculate the return of Antonio Conte.
Sales fell more consistently on Telecom -1,94%; Cnh -2,43%: Italgas -1,41%.
