European stocks are trading strong this week and bags they close another one rally session, thanks to new openings on US tariffs, this time relating to the sector automotiveThe White House indirectly pulls the strings of market sentiment, but the ones who are benefiting the most these days are the "rivals" from the Old Continent, given the more cautious trend of Wall Street starting up.
Thus Business Square closed up 2,39% at 35.843 basis points, led by Stellantis (+6,46%), one of the stocks most affected by the season of customs duty announcements inaugurated by Donald Trump.
Frankfurt rises by 1,62% and resists the doubts raised by the collapse of the confidence of German investors, with the Zew index freezing at -14 in April, against the 51,6 points of March and expectations of +10 by the economists of the WSJThis is the sharpest decline since the Russia-Ukraine war.
London it appreciates by 1,44%, Amsterdam the 2,12% Madrid of 2,45%.
The most modest is Paris, +0,86%, weighed down by the crash of lvmh (-7,27%), which in today's session also suffered the setback of being overtaken by its rival Hermes (+0,21%), becoming the world's leading luxury company by market capitalization. The disappointing quarterly sales penalized the company with the famous logo.
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Wall Street Cautious, Boeing in the Red
Buying America doesn't seem so trendy anymore, since President Trump has chosen the rhetoric ofuncertainty to talk about duties. Wall Street is coming off two sessions of growth, but today the trend is very cautious (DJ + 0,16% S & P 500 + 0,22% Nasdaq +0,2%) and among the various stocks Boeing (-1,4%) is in the red, because China, according to sources Bloomberg, he ordered the airlines not to accept further deliveries of the company's jets.
In short, Beijing remains a difficult interlocutor to soften up, despite the markets looking with cautious optimism at Trump's moves largely in relation to the Celestial Empire. In recent days, the tycoon has decided to temporarily exempt electronic devices, such as smartphones and PCs, from reciprocal duties. However, he then announced that he will soon announce new tariffs on semiconductors, which “will come into force in the not too distant future” and also put the pharmaceutical sector under observation. Finally, he declared that he could suspend those on the automotive sector.
Investors seem stunned by this continuous Scottish shower of news-non-news. Attention in New York is thus focused on bank quarterly, with Citi (+ 4%) and Bank of America (+3,4%), which presented better than expected numbers.
Euros down
The temporary disaffection for US goods has also been seen in this period with the dollar decline and T-bond pricesUS Treasuries are little moved today and the greenback is showing a partial recovery against the euro, which is trading around 1,13, while it is flat against the yen and still weakening against the pound.
The single currency is moving weakly ahead of the ECB meeting, which is expected to cut rates by 0,25% again at this week's meeting before the Easter holidays.
Among the raw materials, thegold, which sees immediate delivery trading at $3.224,71 an ounce, while Petroleum, after recovering in the face of US-Iran dialogue, is trading lower again. Brent, June 2025, sees a price of $64,71 per barrel (-0,26%), while Texas crude May 2025 is at $61,37 per barrel (-0,26%).
Piazza Affari, strong with cars, Leonardo and banks
Business Square It has remained in cash even today, supported by titles such as Stellantis, Leonardo +5,16% and from the banking sector.
Today, the shares of the Italian-French car manufacturers benefited from Trump's openings on tariffs, but the president John Elkann sees black, because the tariffs on the one hand and the European emission standards on the other are too onerous a burden for the sector and put the automotive industry under "extreme pressure". At the shareholders' meeting he also reiterated that the new CEO will be appointed in the first half of the year.
In the automotive sector, stocks such as Iveco + 2,58% Pirelli + 2,33% Ferrari + 1,32% Brembo + 2,62%.
Risk appetite has rewarded banks. Soars Banco bpm +3,6% and following Mediobanca +3,52% and Monte dei Paschi, +3,14%, with the takeover bid launched on Piazzetta Cuccia which awaits important steps such as the Siena assembly on the 17th.
They also shine Unicredit + 3,12% Bper + 2,92% Understanding +2,89%. Well nexi +3,1% and Buzzi + 3,03%.
It is still a letter instead for Amplifon -4,61% and falling Campari -1,6%. Luxury has finally stemmed the pessimism that was blowing from Paris, after the results of LVMH: Moncler it is flat and cucinelli rises by 0,19%. Outside the main list however Ferragamo loses 4,73%.
Spreads up slightly
After yesterday's excellent performance, today the Italian paper closes a session down. spread between 10-year BTPs and 10-year Bunds rises to 119 basis points, with rates slightly increasing to 3,72% and 2,54% respectively.
The news on Italian public debt on the other hand they are not brilliant. In February in fact it returned above 3000 billion due to the growth of the "liquidity of the Treasury". This is what the Bank of Italy states according to which, last February the debt of the public administrations increased by 42,6 billion compared to January, resulting in 3.024,3 billion. The 3 thousand billion quota had already been exceeded in November and then fell below this threshold in the following two months.
