President Trump must really enjoy making shocking statements and then sitting back and watching the reactions. It happens again this time with one of his “mysterious” post su Social Truth in which The Donald wrote that today at 16pm Italian time he will announce a “important” trade deal, without revealing the name of the country, although some sources say that it is the Britain. At a time of great concern for the heated war fronts and geopolitical tensions, the prospect of a thaw in the tariff war gave support for markets, pushing up futures on Wall Street indexes, those on European stock exchanges and Asian stock markets. On the other hand, the weakness of the US dollar versus most major currencies, giving back some of yesterday's gains after the Fed sounded the alarm over rising risks to the economy USA. Even the US bond giant pimco stated that the risks of recession in the country are at their highest levels in years. Thegold and Bitcoin is approaching the one hundred thousand dollar mark again. Today the Bank of England is expected to continue its gradual pace of rate cuts
A new attempt at thaw. Will it be with Great Britain?
The indication of the time it's precise: 14:00 PM GMT, 16:00 PM in Italy. But otherwise President Trump wanted to remain mysterious without providing details: he said he would hold a press conference to talk about a trade agreement with a “great and highly respected country. the first of many!!!”. New York Times e Politico they report that the “big” country is the Britain, a possibility previously reported by analysts leading to the rise futures on British stocks , GBP in Asian trade.
This would be the first of about 200 trade deals Trump says he has made, without giving any specifics. Last week, the president announced “potential deals” with South Korea, Japan and India, while yesterday he announced a first round of ice-breaking talks between Washington and Beijing. Britain itself had concluded a free trade pact with India earlier in the week.
Markets seem to see any trade deal as good news, even though none will be free, but at least it can offer some degree of security. clarity and serve as a model for others to follow. However, analysts point out that a trade deal with Britain is considered among the easiest negotiations, while talks with Europe, and especially with China, seem much more complicated. The real test will be when US Treasury Secretary Scott Bessent and chief trade negotiator Jamieson Greer meet Chinese economic chief He Lifeng in Switzerland on Saturday.
Today we remember 80 years of peace after the end of the Second World War, while other conflicts rage
The European theatre of World War II ended 80 years ago, but the memory of history is of no use: the armed conflict still rages on the continent and another one threatens to break out between the nuclear powers in South Asia. To observe a minute of silence in honour of Victory in Europe Day (VE Day), the Bank of England delayed its monetary policy announcement by two minutes to 11:02 GMT (13,02pm in Italy).
La North Korea has again launched missiles into the ocean and the Pakistan promised reprisals for an air strike by'India, which itself was in retaliation for an attack by Islamist militants last month.
Dollar Hit by Powell's Economic Weakness Outlook
The U.S. dollar weakened again against most of its major currencies today, giving back some of yesterday's gains after the Fed warned of growing risks to the economy from rising inflation and unemployment. The Federal Open Market Committee (FOMC) left interest rates unchanged yesterday, as widely expected, but the Fed Chair Jerome Powell said it was unclear whether the economy would maintain its steady pace of growth or slow down due to rising trade uncertainty and a possible spike in inflation. “It’s not at all clear what the appropriate monetary policy response is at this point,” Powell said, implying that he would wait for the next data. “It’s not at all clear what we should do.” Markets are currently pricing three rate cuts of a quarter of a point before the end of the year, while the next one will take place in July or September.
L'dollar index U.S. dollar, which measures the dollar against six major currencies, fell 0,2% to 99,682, erasing about two-thirds of the previous day's gain. The euro gained 0,2% to $1,1327, reversing course after Wednesday's 0,56% decline, its biggest in two weeks.
The dollar weakened 0,1% to 143,63 yen and fell 0,2% to 0,8229 Swiss francsthat yuan Chinese gold remained virtually unchanged at 7,2325 per dollar in offshore markets, after falling 0,26% on Wednesday.
A separate discussion is valid for the GBP which today marked a rebound of about half a percentage point despite the forecast that the Bank of England announce a quarter-point rate cut later in the day. The risk-sensitive Australian dollar jumped as much as 0,6% against the greenback, while the New Zealand dollar advanced as much as 0,5%.
Wall Street, Trump Wants to Lift Chip Constraints, Nvidia Jumps 3%
Seat up slightly for Wall Street, with the Dow Jones, which ends at 41.114 points and on the same line, theS&P-500 which rises slightly, reaching 5.631 points. Also slightly positive is the Nasdaq 100 (+0,39%) and the S&P 100 (+0,41%). There Federal Reserve kept its benchmark rate between 4,25% and 4,5%, a move that was widely expected by the market. Chairman Jerome Powell rejected the idea of a “preemptive” rate cut to anticipate any impacts from President Donald Trump’s tariffs, given that inflation is still “above target.”
Among the protagonists of the Dow Jones, it is worth mentioning Walt Disney (+ 10,76%), Nike (+ 2,77%), Honeywell International (+2,23%). Weak day for Apple , which marks a decrease of 1,14%. worst performances, instead, they registered on Marvell Technology, which closed at -8,02%. Heavy A, which marks a drop of -7,51 percentage points. Significant losses for DoorDash, down 6,90%.
They are rising almost everywhere chip industry stocks. The Trump administration intends to lift Biden-era restrictions on the sector, he wrote last night Bloomberg, citing senior White House officials. The semiconductor index of the Philadelphia Stock Exchange – a closely followed benchmark – gained 1,7% yesterday: Nvidia rose 3,1%. The plan is part of a broader effort to overhaul restrictions on chip trade, which has been hotly contested by major U.S. companies.
Asian stocks head for fifth day of gains
The latest signs of progress in trade negotiations, more than the indications provided yesterday evening by the Federal Reserve, support the rise in Asia Pacific stock markets.
The MSCI Asia Pacific Index gained 0,3%, towards fifth consecutive session of growth. Speaking on this sequence, Vey-Sern Ling, managing director of Union Bancaire Privee, says that a positive outcome of the US-China talks this weekend in Switzerland “seems more likely after today’s news of a potential US-UK deal.”
Emerging market stocks are also helped by the continuous inflow of capital from abroad: they are attracted by the strong currency appreciation. The MSCI Emerging Market Currency Index hit an all-time high this week. Foreign investment in Asian stocks excluding China and Japan has reached nearly $3 billion so far this week, according to data compiled by Bloomberg.
The Hang Seng index of Hong Kong gains 1,1% thanks to the boost from Tencent, Alibaba and Meituan: China's tech giants to release quarterly data next week. Taiex Index Taipei +0,7%. CSI 300 of the price lists Shanghai Shenzhen + 0,7%.
In Japan the index Tokyo Nikkei is up 0,4%. The yen is steadying after yesterday's slide, the dollar cross is at 143,5 this morning, up from 143,1 yesterday. Japan's breakeven inflation rate for consumer price-linked bonds is up 5 basis points at 1,600% on the 6-year maturity. It has risen XNUMX basis points since the beginning of the month.
European stock markets seen positively. At Piazza Affari to watch: Banco BPM and Prysmian
The stock markets of Europe should open higher: EuroStoxx 50 futures +0,7%. Bank of England rate cut expected
GermanyGerman industrial production rose 3% in March from a month earlier, according to data from the Federal Statistics Office. Analysts polled by Reuters had expected a 0,8% increase.
Banco BPM. Barclays and Deutsche Bank raise target prices. Quarterly results beat expectations thanks to resilient net interest margin and fee generation
Banca Mediolanum. The quarter's accounts beat expectations, with revenues 5% above consensus forecasts, thanks to a resilient interest margin, record commission generation from savings products, strong trading gains and a growing contribution from insurance, which is set to reach full capacity by 2026. Strict cost control led to a cost/income ratio of 43,7%, with operating profit of €831 million, above estimates. The Cost of Risk was 9bps lower than expected and the default rate improved to 0,97%, confirming the good quality of the assets. Barclays and Deutsche Bank raised their target prices.
Bper archives the first 3 months of the year with the best quarterly result ever: consolidated net profit for the period grew by 43,2% to 442,9 million. Core revenues, a note informs, are growing to 1,353 billion (+0,8% on year), thanks to the positive contribution of net commissions (541,1 million; +8,5%). Interest margin down to 811,9 million, -3,8% on year. Commissions from managed assets +18,7%, bancassurance +26,9%. Cost/income ratio at 46,7%, while the group presents a solid credit quality with the gross NPE ratio at 2,6% and net at 1,2%. The results are positive due to the strong contribution from equity investments and commissions, driven by AuM, Life Insurance and Bancassurance products. Asset quality remains high, with only a slight increase in the gross/net NPE ratio.
nexi closed the first quarter with revenues up 3,7% to 810,2 million. Ebitda, explains a note, showed an increase of 7,1% on year to 386,9 million, with an Ebitda margin growth of approximately 149 basis points. The guidance for 2025 was confirmed. The total return of capital to shareholders is equal to approximately 600 million (+20% y/y), of which approximately 300 million as dividend distribution, to be paid on May 21, 2025, and approximately 300 million as a share buyback program. The program is scheduled to start on May 21, 2025.
Prysmian reported a 28% increase in EBITDA in the first quarter, partly driven by the effect of the $4,2 billion acquisition of Encore Wire completed last year. Adjusted EBITDA came in at €527 million, slightly above the analysts' consensus of €510 million. The group reported improved cash generation and confirmed its full-year outlook. Net income decreased by 18,9% to €150 million, mainly due to higher amortization and financial charges related to the Encore Wire acquisition. Free cash flow reached approximately €1 billion. “Prysmian closed the first quarter of the year with solid margins, combined with excellent cash generation,” said Massimo Battaini, CEO of Prysmian, in the statement. The acquisition of Channell Commercial Corporation is progressing in line with expectations, with closing expected by the second quarter.
sapphire closes the first quarter with improving margins and slightly increasing sales, recording a positive trend for most of the brands in the portfolio.
Enel submit quarterly accounts later.
