A few too many tweets from Donald Trump, in the face of Chinese silence on tariffs and the flattening of the curve on US government bonds put the markets in a bad mood. European stocks close down and accentuate the losses in the afternoon, after the opening in the red of Wall Street, again skeptical of the trade truce. They sell industrialists, cars, techs and banks. Frankfurt -1,14%; Paris -0,82%; Madrid -1,28%: London -0,56%.
Business Square it even closes in the dark, -1,37%, 19.353 points, weighed down by sales on stocks that had made significant gains in the last session, counting on the trade truce between the US and China. The Milan stock exchange is also hostage to the freeze frame on the economic manoeuvre, with the negotiation with Brussels still to be completed. The uncertainty is reflected on the bond and on the Italian and German 288.60-year Sperad, which today rose to 2,38 basis points (+3,15%), with a yield of XNUMX%.
At a global level, attention in these hours is also attracted by the yields of US government bonds. Indeed, during the night there was an inversion of the curve between 3 and 5-year bonds (with the yield of the former exceeding that of the latter) and an inversion between those with 2 and those with 5 years. the one between 10 years and 2 years is truly significant, in which there is only a flattening out, but the overnight event has sounded like an alarm bell since since 1975 an inversion of the curve has always anticipated a recession.
Fears of an economic slowdown have affected the dollar, which has lost its lustre, even though it is currently recovering. The exchange rate with the euro moved little in the 1,135 area.
Sterling cooled (USD unchanged) after warming on news that the EU Court of Justice Advocate General believes Britain could unilaterally opt-out of Brexit. Less enthusiastic was the London Stock Exchange, which moved downwards all day.
European stocks increased their losses after the opening of wall street, in turn worried by Beijing's silence on the Buenos Aires agreement. The Chinese are probably awaiting President Xi Jinpin's return home, but optimism today gives way to caution, while tomorrow the New York Stock Exchange will be closed for the state funeral of former US president George Bush senior. Among US stocks, Apple lost about 2% following the rejection of HSBC, which believes the group is too dependent on iPhones.
brake the Petroleumas it approaches the OPEC meeting on Thursday and after the farewell of Qatar, which, however, represents only 2% of world production. Brent +0,44% 61,96% dollars per barrel. Wti -0,11% 52,89 dollars a barrel.
In Piazza Affari the most consistent reductions of the day are those of Prysmian, -4,12%; Moncler -3,74% (a slowdown in consumption in China is feared); Cnh -3,8%; Pirelli -3,23%.
Banks are negative, starting with Ubi, -3,51%, although Bpm bank +0,41% is among the best stocks. Down Mediobanca, -1,81%, on the eve of the meeting of the pact from which Vincent Bolloré definitively exited. According to Sun 24 Hours no new shareholder will take over from the current members of the pact, which will therefore be renewed, in the new form of the pure consultation agreement, with subscriptions just under 20%.
Purchases reward campari, +0,88%; the utilities, with Snam +0,49% and Italgas +0,19%. Well Diasorin, +0,53%, freshman of the main list instead of Luxottica.
Earnings are fractional per Parmalat, +0,88%, the day after of the announcement of the delisting.
