Le European stock exchanges they close the worst session in recent years, dragged by the trade war that has made the leap from words to deeds: Donald Trump confirmed i 25% tariffs on Canada and Mexico and the doubling of tariffs on Chinese products, which will come into force on April 2. The countermoves of Beijing, Ottawa and Ciudad de Mexico are fueling uncertainty. Not even the announcement of the President of the European Commission, Ursula von der Leyen, on the rearmament plan of 800 billion euros, has given relief to the markets.
Investors are watching carefully ECB meeting on Thursday March 6, which could lead to a quarter-point rate cut.
READ MORE: Stock Markets, D-Day of Duties Has Arrived and Brings Down Everywhere
In this context, the stock markets have erased the records of the day before, with Milan (-3,41%), back below the threshold of 38 thousand points, and Frankfurt (-3,39%) which suffer the worst drops. Germany and Italy are the European countries that would suffer the most in the event of US duties. They are followed by Madrid (-2,55%), Paris (-1,91%) And Amsterdam (-1,55%). Slightly reduces losses London (-1,27%).
The trade war also weighs on Wall Street: Canadian and Mexican stocks slipped, as General admission Motors e Ford Motor. The tech sector is also under pressure, with the collapse of Nvidia e TeslaThe latter also suffered from difficulties related to the provenance of the components of its cars.
In Milan, cars and chips sink under the weight of duties. Stellantis in a nosedive he also pays for a 14,7% drop in registrations in Italy in February and the cut in the target price of the stock from 13 to 12 euros (neutral) by Citi. Down also stm. Rain of sales for Iveco, the Italian government is reportedly supporting the company's acquisition of military assets. Prysmian retreats after Jefferies lowered the target price from 80 to 75 euros (buy). On Moncler, instead, Hsbc raised the target price from 73 to 77 euros, maintaining a positive opinion (buy). Also bad Unicredit after Orcel's visit to Rome, and Pop from Sondrio. Campari is holding out awaiting the publication of the accounts scheduled for 17pm today.
Team under pressure after that Vivendi has filed an appeal against the ruling of the Civil Court of Milan, which in January rejected the appeal against the decision of the board of directors to sell the fixed network without going through the shareholders' meeting. The only positive notes: Inwit e utility. Snam, Terna e A2a rise on expectations of a rate cut by the ECB, which makes their shares more attractive compared to bonds. In addition, the announcement of a 100 billion fund for decarbonization supports the sector.
Lo spread Btp-Bund rises to 108 points, with the Italian 3.56-year yield at +XNUMX%.
Trump-initiated trade war raises prices gold prices which is back above $2.900. Theeuro makes above 1,05 against the dollar. The Petroleum drops after OPEC countries said they will continue to increase production in April, also down gas in Amsterdam.
