European stock markets are trading in the red, weighed down by renewed trade tensions between the United States and China. The new battleground is the portsStarting today, Washington and Shanghai will begin charging port fees on shipping companies transporting everything from toys to crude oil. Meanwhile, the debate over the rare earths: Beijing reiterated that export control measures do not prohibit exports and that applications that meet the requirements will continue to be approved, while a Ministry of Commerce spokesperson said overnight that China is ready to negotiate with the United States, but also to fight, "to the end."
READ MORE The trade war between the US and China moves to ports di G. Bruschi
In this context, all European markets are moving in negative territory. Frankfurt loses more than half a point, followed closely by Paris and Amsterdam. Try to limit the damage Madrid, unique in positive while Milan is the worst. Flat London.
On the Ftse Mib, they keep the utilities led by A2a and Enel. Sales instead start to fall again on Stellantis after Moody's assessments, which confirmed the Baa2 rating but cut the outlook to "negative". Also weighing on the European auto sector is the cut in guidance from Michelin, which collapses in Paris. Profit taking on Buzzi After yesterday's rally due to the Gaza deal and reconstruction prospects. Also bad Amplifon and Leonardo. Banks in the red on the hypotheses relating to the contribution to the Budget from which the Government would like to raise approximately 4 billion more than expected. In this sector, the worst performing stocks are Banco Bpm, Mediobanca, and Bper.
They also closed in sharp decline. Asian bagsIn Tokyo, fears prevailed, both regarding domestic issues (the long wait for the election of a new prime minister) and international issues, such as renewed trade tensions between China and the United States. At the end of the session, the Nikkei Index closed down 2,58%. Hong Kong, Shanghai, and Shenzhen also fell.
Even Wall Street is negative, on the day the quarterly season. As per tradition, the big banks are the ones to open the dance: today it's the turn of JP Morgan, Goldman Sachs, Citigroup will lift the veil on their accounts (here the results), while tomorrow the results of Bank of America and Morgan Stanley are scheduled.
The rally continues , pushed upward by the likely interest rate cut by the Fed. The precious metal touched yet another record above $4.100 an ounce, with spot delivery at $1.104 after having reached a high of $4.179. A new record also for silver, which rose by 2,2% to 53,6 dollars, while platinum marked +1,9% to 1.677 dollars and the palladium +2,1% to 1.506.
On the currency, the euro is at 1,155 to the dollar from 1,1570 on Monday's close. Among commodities, prices of Petroleum pending the publication of the EIA monthly report, while the gas is below 32 euros per megawatt hour on the Amsterdam Stock Exchange. Bitcoin loses 2,92% to 112.400 dollars.
Finally, on the secondary market it spread between BTPs and Bunds opened slightly higher, rising to 84 basis points from 83 yesterday. However, the BTp yield 10-year benchmark that marked a first position at 3,44% from 3,46% at the previous closing.
