The European bags They closed the last session of the week on the rise, while developing developments from the talks between the USA and China on the duties scheduled for the weekend, after the agreement reached by the US administration with the United Kingdom. This afternoon the American president Donald Trump said that “many commercial agreements in preparation, all good (excellent!)!”, After having previously suggested that “a duty of 80% on China seems appropriate”.
Attention has remained on quarterly and in Italy on banking sector. Banca Monte dei Paschi di Siena has passed the predictions of profit in the first quarter, stating that “he continues in line with the timing scheduled in the execution of the route to the OPS on Mediobanca, whose industrial rational is potentially also consistent with the operation announced on Banca Generali”. Mediobanca, who beat expectations with the results of the third quarter, underlined how the risks identified in the offer launched by MPS are further amplified with the combination with Banca Generali.
Today’s session
Among the main European bags Positive balance for Frankfurt, which closes with a progress of 0.63%, substantially toned London, which records a capital gain of 0.27%, and moderate earnings for Paris, which advances by 0.64%.
Day of earnings for the Milan stock exchangewith the FTSE MIB, which shows a capital gain of 1.02%; On the same line, the FTSE Italia All-Share ends the increasing day of 1.03%. The Ftse Italia Mid Cap (+1.2%) rises; As well as, fractional earnings for the Ftse Italia Star (+0.37%).
Among the best Blue Chips in Piazza AffariMedibanca effervescent, with a progress of 5.40%. Incandescent Saipem, which boasts an incisive increase of 3.81%. Money on Stmicroelectronics, which records a rise of 3.34%. Definitely positive balance for Bper, which boasts progress of 3.24%. The strongest discounts, however, occurred on Leonardo, who filed the session at -3.31%. Prey to the Campari vendors, with a decrease of 2.71%. Sales are concentrated on amplifon, which suffers a drop of 2.27%. Hesitant diasorin, which gives 1.47%.
Central banks
This week it emerged that the US Central Bank It is uncertain about the direction of the economy and inflation, given the increases of the duties and the uncertainty about what it will be of the latter. This clearly emerged from the monetary policy decision, in which the Fed maintained the interest rates unchanged (at 4.25%-4.5%) and said that the risks increased in both directions: both the risk of a higher inflation and the risk of a weaker economy.
In addition to the Fed decision on Wednesday evening, Thursday the Norges Bank left the rates at 4.5% and warn on premature cuts, the Riksbank he left rates at 2.25%, saying that it is better to wait for a clearer picture, and the Bank of England He cut the rates of 25 points basic to 4.25%, with the committee that broke into the decision.
Next week
On the macroeconomic front, the data on the data on the US consumer prices in Aprilwhere we could start seeing the effects of the highest duties, and new data on consumer trustincluding inflation expectations. This could have a significant impact on the possibility that the Fed cuts rates at the next June meeting.
However, markets could pay more attention to commercial negotiations than to the publication of the data. Yesterday, the United States and the United Kingdom have reached a commercial agreement that reduces the duties that the United States have recently introduced on British cars and metals, while maintaining the general rate of 10%, despite the fact that the United States have a commercial surplus of goods with the United Kingdom.
A progress towards a much more significant tariff agreement could already arrive this weekend, when i US and Chinese negotiators will meet in Geneva. Dice well higher than 100%, like those currently applied, will clearly have a strongly negative impact on the economies of both countries, since the supply chains will be interrupted and there will be the risk of empty shelves in US stores. Therefore, there is a strong incentive to reach an agreement to reduce duties.
