For now, the markets are paying the price, with European lists closing in deep red (FTSEurofirst300 -2%) and Wall Street negative again today, after yesterday's announcement by President Donald Trump for the introduction of tariffs on the import of steel and aluminum. Today, the president ratchets it up and tweets, "When a country loses many billions of dollars in trade with virtually every country it does business with, trade wars are just and easy to win."
Paris leaves 2,39% on the ground; Frankfurt -2,27%; Madrid -2,13%; London -1,47%.
Business Square down the psychological threshold of 22.000 points, stopping down by 2,39% (21.912 points), more or less on the lows of the year, two days before the electoral confrontation.
The group pays the highest price Lambs: in the first place the leader Exor, -6,08%, to follow Fiat, -5,72%, hit by a perfect storm. The sales are in fact due to a global weakness in the sector, aggravated by the announcement of duties, the postponement of the Magneti Marelli dossier and the more than 10% drop in February registrations in Italy. Down too Cnh -4,68% and Ferrari -3,69%. Profit taking, after a few sessions of glory, sinks Ferragamo -4,52%. Heavy sell-off on financial stocks, the worst of which is Finecobank -3,42%.
On the Ftse Mib no titles are saved, but they contain the damages Ynap, which remains flat; Moncler, -0,21%%, on which Deutsche Bank strengthened its positive opinion by raising the target price to 33 euro from the previous 27,20 euro; A2a -0,59%; Luxottica, -0,62% after yesterday's rally; Bper -0,83% Also Atlantia limits bleeding, -1,41%, afterannouncement of entry into Getlink (Eurotunnel) with 15,49% of the share capital for 1,056 billion. The company also reported better-than-expected results in the fourth quarter of 2017.
On the steel front, at the European level, losses per ArcelorMittal in Paris, engaged with Nippon Steel in the purchase of the Indian company Exar, Thyssenkrupp (declining in Frankfurt) and Outokumpu on the square in Helsinki. Even on the US lists, the groups active in the two sectors involved opened down, after yesterday's gains and according to some commentators, the duties are more of an excuse for investors to raise cash after months and months of growth.
The novelties remove the glaze from the dollar and the exchange rate with the euro returns to the 1,23 area. Stable gold e Petroleum. During the session lo changes sign spread between the ten-year Italian and German which rises to 134.20 basis points (+1,13%), with the yield at 1,99%. "Beyond a physiological caution - writes Reuters - investors apparently relegate to the sidelines the risk that the post-vote political scenario could materialize in something other than some form of broad agreements".
