Stock market, Wall Street closes negative: US-China tug-of-war worries
Relief over tariffs backtrack is short-lived, now market looks with fear at US-China escalation. Piazza Affari closed at +4.7%. Purchases on gold return, oil weak, dollar still down
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(Il Sole 24 Ore Radiocor) - Maxi-rebound of the European stocks after the 90-day postponement decided by surprise by US President Donald Trump on reciprocal duties. The EU, too, mid-day announced the suspension of countermeasures that came into effect on Wednesday in response to the 25% US duties on steel and aluminium. Of concern, however, is the iron arm waged between the White House and Beijing, with the tycoon announcing 145% tariffs on goods from the Dragon that, according to Trump, "disrespected" the States.
Thus, the FTSE MIB of Milan, the best of the Old Continent, ended the session well up, albeit far from the highs of the beginning of the day, but still gaining 29.6 billion in terms of capitalisation. Sprint also for the DAX 30 of Frankfurt, the CAC 40 of Paris, the FT-SE 100 of London, the IBEX 35 of Madrid and the AEX of Amsterdam.
US Cpi inflation in March -0.1% monthly, first decline since 2020
Inflation slowed down in the US. In March, consumer prices decreased by 0.1 % from the previous month, according to the Labour Department, after +0.2 % in February (confirmed). This was the first monthly decline since 2020. Estimates were for a 0.1% rise. The annual figure slowed from 2.8% in the previous month to 2.4%, with expectations for a decline to 2.6%. The 'core' figure, i.e. the one adjusted for the food and energy price component, rose 0.1 %, with expectations for a 0.2 % increase. Compared to a year earlier, the 'core' figure fell from 3.1 % to 2.8 %, the lowest figure since March 2021. Energy prices decreased by 2.4 %, food prices increased by 0.4 %. Compared to a year earlier, energy prices decreased by 3.3%, food prices increased by 3%.
Wall Street closes negative
Wall Street closed negative. The Dow Jones lost 2.50 per cent to 39,593.44 points, the Nasdaq dropped 4.31 per cent to 16,387.31 points, and the S&P 500 dropped 3.46 per cent to 5,267.91 points. Wall Street's day therefore went badly after Wednesday's 'monstrous' rise. The rise was due to US President Donald Trump's decision to pause new tariffs for 90 days for all countries, to which the basic 10% tariff will be applied. All except China.
Pouring of purchases also in Milan
At Piazza Affari in a FTSE MIB galvanised by sell orders, banks close in the front row, with Unicredit, Banco Bpm and Finecobank. Industrials were also in the spotlight with Prysmian. Strong rises also for Nexi and Telecom Italia . The performance of Stmicroelectronics, Diasorin and Italgas. Out of the main basket, it flies Il Sole 24 Ore after the launch of the takeover bid by Confindustria with the aim of delisting it.
