Bags Today March 31st | Europe in red at the mercy of the US duties, in Milan down the banks. New record for gold

European bags open in clear decrease, at the mercy of uncertainty for the extent of the so -called « mutual duties » of the USA that will come into force from tomorrow. The FTSE MIB Milano is so the worst index and leaves 1.5% on the groundwhile the Dax of Frankfurt is also down (-1.2%), with investors waiting for Italy and Germany the data on harmonized inflation in March. The CAC of Paris (-1.2%), the Ibex of Madrid (-1%), and the AEX of Amsterdam (-1%) is also down.

The war of duties continues

Looking more in detail to the duties theme, During last week Donald Trump seemed to resize the expectations for the mutual tariff plan that will start from tomorrow (to which are also added the duties on the automotive). In recent days, however, the president has prompted his collaborators to adopt a more aggressive approach, as reported by the Wall Street Journal, and yesterday, in an interview, he said he wanted Hit « essentially all » the commercial partners of the United States with duties of some kind. A negative news that confirms the scenario hypothesized by several analysts, including those of Goldman Sachs, so the impact of rates will be « greater than what is hypothesized by many market operators ». In the background, the evolution of the situation in Ukraine remains, with the rekindle of the tensions between the United States and Russia.

Piazza Affari

Turning to the shareholder, sales affect Prysmian (-3.4%), already returning from some weak sessions. The banking sector was heavy, with MPS (-3.9%) and BPER (-3.2%) in the last row. Sales also for Unicredit (-2.7%), after the institute’s ok for the capital increase for the OPS on Banco BPM (-2.8%). For st -2%, with citi cutting the target price on the title at 27 euros. On the opposite front, defensive securities such as utilities, with Snam (+0.4%) and Italgas (+0.38%), among the best titles. Tim is just above equality, with a progress of 0.1%. During the weekend Poste (-1%) rose to 24.81% in the capital of the TLC, purchasing a 15% share from Vivendi at a unitary price of 0.2975 euros. Here the titles in real time.

Spread

Stable start for the spread between BTP and Bund. In the first bars the performance differential between the ten -year BTP benchmark and the same German deadline He stands at 112 points, unchanged compared to last Friday reference. The flexion, on the other hand, the performance of the ten -year BTP Bencharak which in the start marked a first position at 3.80% from 3.85% of the previous closing. Here the update in real time.

Energy and currencies

On the currency market, the euro exchanges at 1,0832 (from 1,0832 Friday in closing). The Yen crosses the single currency at 161.13 (from 162.55) and the dollar to 148.77 (from 150.05). On the energy front, crude oil descends with WTI May to 69.12 dollars per barrel (-0.3%) e The bird of even deadline at 72.58 (-0.26%) dollars. The natural gas on the TTF platform of Amsterdam at 40.9 (-0.4%) is also not very rough. The gold spot touches a new maximumdriven by the risk aversion of investors, over 3,100 dollars the ounce, and exchanges at 3,124 (+1.3%), while the future treat to 3,155 (+1.3%), also on the maximum.