The president of the United States, Donald Trump, does not back down in the face of the market collapse and today announces the doubling of rates from 25% to 50% for products in steel and aluminum from Canada. These customs duties should come into force tomorrow morning, but if that were not enough, the tycoon is threatening duties (which should come into force on April 2) against cars that would be “enough to shut down production in the sector” of his neighbors.
On the geopolitical front meanwhile, Gedda, the have begun talks between Washington and Kiev, first steps to hypothesize a peace in Ukraine that already stumble in the massive drone attack that hit Moscow in the night. For the Kremlin spokesman Peskov, in this way there is a risk of compromising the negotiations.
So, in this climate, European stock markets fail to rebound, infected by the uncertain start and the off-key progress of Wall Street after the Black Monday experienced yesterday in New York.
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Business Square loses 1,38% and slips below 38 thousand points to 37.698 basis points, following Stellantis -5,22% and banks. In the rest of the continent Amsterdam loses 1,42%, Madrid 1,51%, Paris 1,31%, London 1,23%, Zurich -2,25%. Frankfurt loses 1,29%, after having been the worst European market yesterday also due to the negative orientation of the Greens towards the debt easing project, a reform that would pave the way for the maxi investment plan announced last week. Today the sun 24 hours he writes, however, that "in Germany even the Greens could vote in favor, seeing an opportunity in military spending."
Overseas Wall Street proceeds weakly, although Tesla e Nvidia bounce, helping the Nasdaq (-0,3%) to limit the damage. The decline is more robust for Dow Jones (-1,2%) And S&P 500 (-0,75%). In particular, they fall Ford, Gm e Stellantis, car manufacturers' stocks that are particularly exposed to tariffs since they have a strong presence in Canada
No relief for equities seems to come from the day's macro data, in particular from the fact that job openings in the United States rose in January, also on fears that import tariffs and aggressive government spending cuts could cause a sharp slowdown in economic activity and a resurgence of inflation.
Dollar in retreat
The climate of uncertainty, far from encouraging the dollar, as has happened at other times, is weighing down the greenback which is also falling today against most of the major currencies. In particular, theeuro it appreciates by 0,8%, for an exchange rate above 1,092.
The dollar strengthened slightly against the yen, mainly because the Japanese currency was weighed down by the disappointing GDP of the fourth quarter. Growth was 2,2% against expectations of 2,8%. A trend that could complicate the work of the BoJ and the possible increase in interest rates.
Instead, the bulwark in the critical phase is the , which is trading higher today also thanks to the weakness of the dollar. Spot gold, after having exceeded 2.922 dollars per ounce, is currently trading at 2.917,75 (+1%).
Prices are also rising. crude, always driven by the decline of the star-spangled currency and despite the ongoing fears of a potential recession in the United States and the impact of duties on global economic growth. Brent is trading above 70 dollars a barrel (+1,14%), while WTI is seeing a price of 66,67 dollars (+1,11%).
Piazza Affari, Leonardo doubles the dividend and defends the list
He took steps to defend the price list a little Leonardo (+1,74%), which is the best blue chip of the day thanks to 2024 stellar accounts and a dividend that rises to 0,52 euros per share from 0,28 euros. In a note, the defense and aerospace group says it expects the guidance 2025 significantly improving. In the new plan to 2029, revenues also accelerate at a rate of 7% each year and orders by 5,8%. Then we will see how things go, certainly the sector is in excellent health in these turbulent years and even today in Paris there was the meeting of the Chiefs of Staff for the creation of a common European defense. The finance ministers of the European Union instead discussed proposals to increase defense spending without breaking EU rules and upsetting the markets, focusing in particular on strengthening growth and separating military spending from the Stability Pact.
Among the other few big caps that are progressing on the Milan index there is Prysmian, +0,95%, which raises its head after recent losses thanks to the promotion to buy from neutral by UBS.
There are still some utilities in evidence such as A2a +1,22% ed Enel +0,33%. They hold Buzzi +0,17% and Terna + 0,08%.
The rest of the Ftse Mib offers only various shades of red.
We start from Stellantis and continue with Campari -4,06% and Recordati -3,33%.
Banks are going down and the worst is Ps -3,02%, followed by the possible prey of Siena, Mediobanca (-2,37%), then they fall back Understanding -2,11% and Unicredit -2,31%.
Male stm -2,79% Amplifon -2,91% Telecom -2,37%.
Outside the main basket, a stellar session is archived EPH (+30,77). The green light from the board of directors to the capital increase of up to 1,6 million gave wings to the stock of the Italian e-commerce operator. In detail: the board of directors resolved to accept the binding offer presented by Urban Vision, which is functional to strengthening the financial position of the company and to guarantee business continuity through the rebalancing of the related debt exposure.
Spreads up
Risk aversion is penalising Italian paper today, which sees the spread with the German 108-year at XNUMX basis points. The returns and the 10-year BTP is expected to close at 3,95% versus 2,87% for its German counterpart.
