I price lists Europeans they hit a rebound today and inaugurate the month in profit, perhaps resigned to the entry into force of the US duties (tomorrow is Trump's “day of liberation”) and encouraged by the March data oninflation and on manufacturing SMEs in the euro area, which bring an olive branch to a hopefully more dovish ECB at the meeting on 17 April.
Read EVEN Stock Market Today April 1st Live
Square Business rises 1,33% to 38.557 basis points, supported by Unipol + 2,85% Telecom + 2,8% Leonardo +2,7%. The pace is even longer at Frankfurt, +1,63%, while they are a little further behind Paris + 1,1% Madrid + 1,21% Amsterdam + 0,72% London .
Overall, investors have been hunting for some good deals in Europe today, after the losses of the last few sessions and the farewell to a difficult month of March, but also to a first quarter of gains. The same does not seem to be happening in these hours in Wall Street, where the stock markets opened in decline, starting the second quarter in the red as they closed the first. At the moment the New York indices have gone in positive territory.
Secondo Equity there is an improvement in European economic expectations compared to the US, along with a reduction in political risk, while the US technology sector is partially deflating after having supported the US stock market rally for many months. The broker believes that fiscal expansion in Germany and the EU can offset the negative impact of US tariffs and confirms a slightly positive view on European markets, however suggesting to maintain a liquid quota for any corrections.
Eurozone inflation slows in March
Good news came today from the macroeconomic page. In particular, according to Eurostat, theinflation in the euro area è dropped to 2,2% in March from 2,3% in February, a trend that could give pause for thought ECB on a further rate cut, even if the tariff war that could start tomorrow puts everything in doubt. Trump today claims that he will be "very kind" when he announces new tariffs for trading partners. For its part, Europe, according to the words of Von der Leyen, is ready to take revenge.
Also from today's macro page it emerges that the manufacturing of the region is improving, although to a lesser extent than expected.PMI index in March it rose to 48,6 points, from 47,6 in February and against the estimates of 48,7%. It also remains in the contraction area (below 50 points).
In the US they disappoint Job offers in February, decreased, in a context of growing uncertainty about the state of the economy.
In March, US manufacturing activity also contracted again (index at 49), after having recorded two consecutive months of growth, and producer price inflation rose to a three-year high, amid growing fears of the introduction of import duties.
Euro little moved, gold hits record highs
The sword of Damocles of tariffs weighs on the head of world trade and helps thegold to fly ever higher. Thus the prices of the ingot are also today at record levelJune futures hit a high of $3.177 an ounce, while spot gold hit $3.149,03.
Il dollar there is little movement against theeuro, which is trading around 1,08, while it is retreating against the yen, another safe haven (for an exchange rate of 149,43).
Oil futures are well set: Brent is approaching $75 a barrel, while Texas crude is seeing a price of $71,60.
Piazza Affari, attention returns to banks
Among the best blue chips of the day there is Ferrari, +2,42%, after the call with analysts. The prancing horse is not afraid of American duties and yesterday explained that it intends to protect customers, especially loyal ones (over 60%), with a 10% price increase, but without touching the entry-level models (Roma, 296 V6 and SF90 hybrid). Ferrari will share part of the costs with dealers and will not pass them on entirely to customers. Furthermore, management confirmed the annual objectives, despite the uncertainty of the first quarter.
Banks are also shining, after yesterday's sell-off: Unicredit +2,21% and the possible prey is not far away Banco bpm +2,12%; Ps +1,84%, which has its sights set on Mediobanca, +2,09%. The biggest increases, however, revolve around Unipol and its banking subsidiaries, Bper +2,3% and Popular of Sondrio + 231%.
Among other titles, a session closes in cash Leonardo, which has won a £165m contract extension from Britain to maintain the Royal Navy's fleet of 54 Merlin helicopters.
It also comes to light Telecom, with Vivendi has decided to withdraw its lawsuit against the board of directors on the sale of the network, after the reduction of its share, largely passed to Post (+1,16%), which becomes the largest shareholder of the TLC company. Keeping interest in the stock alive is also the possibility that Poste is open to discussing a possible merger of Tim with Iliad.
There are few blue chips falling, led by Pirelli -1,35%. Bad Saipem -1,21% and Iveco -0,5% and utilities like Italgas -0,9% and Terna -0,12%, good buys yesterday.
Declining spreads and rates
The macro news released during the day favored a higher close on the secondary market, where the spread between a 111-year BTP and a Bund of the same duration, the gap drops to 3,79 basis points and rates fall to 2,68% and XNUMX% respectively.
