The tariff effect strikes again and to pay the price I'm higher today again the dollar and T-Bonds, In a capital flight from investments that were considered safe until recently. Investors are thus clinging to the , which updates record by record. For the stock A mixed day ends in Europe, with the lists that are finally mixed, after having sought indications from Wall Street at the beginning, but without success and in times in which the scenarios change rapidly. After the partial truce between the United States and the rest of the world US-China trade war continues to dominate and, at the moment, the challenge between the two contenders sees American customs duties on Chinese goods at 145%, while Beijing (in response) is at 125% and does not intend to go further, “because it would be ridiculous.” There are rumors of a willingness to negotiate from the White House, which however would like a request in this sense from Beijing.
European stocks weak. Lagarde ready to intervene to ensure financial and price stability
Piazza Affari limits the damage at 0,73% and safeguards the 34 thousand basis points, helped by the purchases on Stm (+ 3,9%), Diasorin (3,23%) and utility. The black jersey of the day goes to Stellantis (-3,81%), while the banks are opposed.
The S&P rating on the Belpaese will also arrive soon and in the meantime it will spread between the Italian 126-year and German 3,8-year bonds widens to 2,54 basis points, with rates falling (XNUMX% and XNUMX% respectively).
In the rest of Europe, the stock markets closed negatively at Frankfurt -0,78% Paris -0,3% and Madrid -0,43%, while London salt of 0,59% and Amsterdam it is flat.
S&P's ratings for Great Britain, Moody's for Belgium and France, and Fitch's for Spain are expected in the evening.
Meanwhile, the president of the European Central Bank Christine Lagarde it says it is ready to intervene to ensure financial and price stability.
“We are closely monitoring all market developments and recently we have observed a certain degree of volatility – he said at the end of the Eurogroup – but in Europe and in the euro area in particular, we have seen that market infrastructures and the functioning of markets, including bond markets, are functioning in an orderly manner”.
Wall Street nervous, US confidence drops
Wall Street looks nervous and in the first hours of trading it has already changed sign several times. At the moment the indices are slightly decreasing: DJ -0,24%, S&P 500 -0,09%, Nasdaq -0,02%. Behind this volatility there are probably rumors about DAZi, but in the meantime it is the quarterly season has started with the big ones American banks that have positively surprised, even if the stocks show a mixed trend. It goes up Jp Morgan Chase, as they retreat Morgan Stanley, Wells Fargo -3% BlackRock.
From the macro page of the day comes good news on thestars and stripes inflation, which confirm those already received yesterday on consumer prices for March. Producer prices last month fell by 0,4% compared to February, with the annual figure at 2,7% from 3,2% previously.
This month, however, the Americans are proving to be less optimistic about the economy compared to last month, mainly due to confusion and uncertainty over President Donald Trump's policies and declines in stock markets. The preliminary reading of theconfidence index compiled monthly by the University of Michigan is equal to 50,8 points, the lowest since June 2022, after the 57 points of the final reading in March and expectations for a figure of 54,6 points.
Capital flight from the US: dollar and T-Bonds on sale
The macro picture and the good quarterly data are therefore not enough to keep investors' morale high and the Sales focus on the dollar again and on U.S. government bonds, in an anomalous manner compared to the past.
Il greenback is falling against major currencies, while the Swiss franc hits record highs.
The euro is gaining 1,4% against the dollar, to 1,132, after reaching 1,1473, a level not seen since February 2022.
In a context of great uncertainty and also of credibility put at risk by the continuous changes of register of the US presidency, the sales on government bonds and stars and stripes are back. The 4,5-year Treasury sees the yield rise again above XNUMX%, while prices fall.
On the contrary the demand for gold is incessant and the precious metal Update new records today. Spot gold is now trading at $3234,44 an ounce (+1,85%) after hitting a high of $3244,23. The June 2025 futures are at $3251,41 (+2,33%) after a high of $3261,85.
Il Petroleum is flat from yesterday's close. Texas crude is just above $60 a barrel and Brent is trading at $63,36 a barrel.
Piazza Affari, Stm shines
The day ends negatively in Piazza Affari, but not for everyone.
In fact, Stm stands out on the Ftse Mib, the day after the meeting at the Ministry of Business and Made in Italy for the relaunch of the semiconductor electronic components manufacturer. The Italian-French company has decided to redesign its production structure for the next three years, to review the size of the workforce: 2.800 voluntary exits worldwide, mainly in 2026 and 2027, a number that will increase with natural turnover, but the Italian sites are safe.
Health stocks are doing well with Diasorin and Recordati +1,7%. The utilities offer a good buffer to today's debacle. They rise Hera + 1,99% Terna +1,05% and also Enel, +0,33%, on which Kepler Cheuvreux raised the target price to 9,3 euros from 8,3 previously. It is Snam flat, after Citigroup cut its recommendation to 'sell' from 'neutral', target price at 4,30 euros from 4,40. It is not far away
In the industry it is progressing Pirelli +1,54%. Well Post + 0,77%.
The markdown list opens with Stellantis, which hclosed the quarter with a total of 1,2 million vehicles delivered globally, -9% compared to the same period of the previous year.
In the wake Classic Ferrari for sale -1,88%.
Among the financial ones it falls Generali, -3,5%, also because the period for purchasing shares to bring to the next meeting has now ended.
They go down Azimuth -1,9% Unicredit -1,77% Bpm bank -1,59%. Among oil stocks, the worst performer is Tenaris -1,75%.
