No surprise: the ECB makes seventh cut of the cost of money from June 2024, reducing the rate on deposits at 2,25%, that on refinancing operations at 2,40% and on marginal lending at 2,65%. European stock exchanges confirm the declines and close in the red even if with reduced losses. Also weighing on the mood of the operators are the words of Jerome Powell: the Fed, the president reiterated, will wait for "greater clarity" before deciding on rate cuts, while confirming the solidity of the economy. Powell also warned that duties could temporarily push up inflation. After yesterday's slump, with the Nasdaq down 3% due to the collapse of Nvidia (-6%) and Powell's statements, Wall Street continues uncertainly with the Dow Jones which opened with a loss of more than 1% dragged down by the collapse of United health (-20%). Great expectations this evening for theMeeting between Meloni and Trump in the USA.
Read EVEN Stocks hold their breath after Powell's warning
On the macro side, producer prices in Germany fell by 0,2% in March, after +0,5% in February.
A Square Business, spotlight on Ps, after the assembly gave the green light to the 2024 budget (closed with a net profit of 1,92 billion) and to thecapital increase linked to the takeover bid on Mediobanca. Down with luxury after the accounts of Moncler, cucinelli e Hermès, while banks remain under observation after the seventh rate cut. Unicredit sees the target price raised to 56,3 euros by Barclays. Stellantis, through Comau, will acquire Automha by the second quarter of 2025.
Lo spread Btp-Bund closes at 117 points, with the yield on the Italian 3,71-year bond rising to XNUMX%.
Il Petroleum continues to rise, driven by US sanctions on Iran: WTI is quoted at 63,13 dollars (+1%), Brent at 66,4 (+0,55%). Thegold is slightly down after the record: spot at 3.327,35 dollars (-0,47%), futures at 3.341,84 (-0,14%). Little moved the exchange euro Dollar (1,1359)