Stocks remain shaken by volatility, in a session influenced by the hypotheses on the formation of the new German government and by the acceleration of the new Chancellor Friedrich Merz who immediately started talks with the Social Democrats to quickly approve a special defense spending of 200 billion euros, double that approved three years ago. In the background remain the trade tensions. Undermining investors' mood is once again Donald Trump which could further tighten restrictions on the purchase of semiconductors by entities linked to China and is putting pressure on key allies to move in the same direction. As if that were not enough, the US president said that the duties on products from Mexico and Canada “will come into force” next week, while a proposal is on the table that would impose heavy tariffs on the use of commercial vessels made in China. A measure that, if approved, could have strong repercussions also on large companies such as Maersk and MSC, which have purchased dozens of ships from Beijing.
To learn more: Stocks: Chip war between US and China intensifies
Square Business, after ups and downs in line with the global trend, closed positive at +0,63% (38.714 points), driven by banks, thanks to a favorable report from Morgan Stanley, and from the continuous rally of Leonardo (+2,48%). In Europe, Madrid is the best (+0,79%), while Frankfurt (+ 0,06%) and London (+0,09%) remain almost flat. Paris loses 0,49%, Amsterdam falls by 0,5%. The situation is not rosy overseas: Wall Street continues in the red, with the S&P 500 down more than 1%. Chip stocks are weighing heavily, such as Nvidia (-2,57%), pending the accounts, and Trump's new threats on duties and trade policies. Among the worst, Tesla (-8,86%) records a drastic drop in sales in Europe.
Returning to Milan, investors' eyes are on the banks: with Ps in the lead (+5,3%) and Unicredit (+2,84%) at its highest since 2011. Good performance also for Popular of Sondrio (+ 2,71%) and Banco bpm (+2,07%). In luxury, Moncler loses 2,63%, while in the technology sector, stm drops by 2,29%.
Moving on to the other markets, the spread drops to 107 basis points, while theeuro gains ground on dollar. Below gold e Petroleum.
