Le European stock markets slow down after a positive start, while Wall Street maintains a more optimistic tone on US duties. Expectations are that the new round, due on April 2, will be less broad than expected: no sectoral duties, but 15% tariffs on countries with persistent trade imbalances with the US, the so-called “dirty 15”, including China, India and Japan. In the meantime, attention is turned to Riad, where the continue negotiations is preferably used for peace between Russia and Ukraine, with the United States pushing for a resolution by Easter, despite the difficulties reported by the Kremlin.
Eyes on economic data USA and Europe, after the central banks' warnings on the global economy. Tomorrow the US consumer confidence, and Friday theinflation pce. Today, meanwhile, the PMIs for manufacturing and services were published: in the Eurozone, the PMI for manufacturing rose to 48,7 points, reaching the highest level in the last 26 months, while the PMI for services fell to 50,4 points. Now the markets await the data coming from the United States.
Read EVEN Stocks rise on speculation of more conciliatory tariffs from Trump
A Business Square, the eyes are on TeamVivendi has reduced its stake to 18,4% and the group is in talks with banks to renegotiate a €4 billion credit line. Leonardo instead it suffers a rating cut by UBS, which lowers it to "Neutral". On the banking front, the ECB will soon decide whether to apply the favorable regime on insurance participations, a crucial step for Bpm bank e Anima, with possible impacts on Unicredit. Banca Mediolanum instead receives a positive boost, with JPMorgan initiating coverage with “Overweight” and a target price of 17,40 euros. Bank Ifis, meanwhile, is in negotiations to acquire Euclidea Sim.
In the automotive sector, Iveco aims to raise 1,5 billion from the sale of its defense subsidiary, while Stellantis launches new incentives for American workers. Ferrari received a post-Chinese GP suspension, while the Juventus he fired Thiago Motta, entrusting the team to Igor Tudor. Always outside the main list Fincantieri prepares the Board of Directors on the 2024 budget and Mfe could launch a takeover bid on ProSiebenSat1 after the purchase of Verivox, while Maire receives a rating cut from Barclays to 11 euros.
Lo spread between BTPs and Bunds drops to 110 basis points, with the yield on the 3,89-year BTP slightly rising to XNUMX%.
