European Markets Rebound Amid Negotiation Hopes on Tariffs
European stock exchanges recover, with Milan's FTSE MIB gaining 2.4% as potential tariff negotiations become a focal point for investors.
European stock markets experienced a rebound following three consecutive days of declines, with all major indexes closing up by more than two percentage points.
The FTSE MIB in Milan rose by 2.4%, regaining the threshold of 34,000 points after fluctuating during the trading day.
Investor sentiment is being buoyed by indications of potential negotiations regarding tariffs, particularly in light of the unpredictable trade policies of the Trump administration.
This optimism is reflected in developments across both the European and U.S. markets, where indices are also recovering.
Scott Bessent, U.S. Treasury Secretary, indicated in an interview that 'at some point, the president will be ready to negotiate.' He also mentioned that around 70 countries are prepared to engage in discussions with the United States regarding trade.
Furthermore, a diplomatic dialogue was reportedly initiated by Japanese Prime Minister Shigeru Ishiba, and there is a consensus in Brussels that negotiation remains the preferred approach, although they have cautioned that countermeasures are still an option.
In a related context, U.S. President Donald Trump has expressed expectations of a call from Beijing, despite previously threatening additional tariffs of up to 50%, signaling a possible softening of the stance towards China.
The situation remains fluid, with a high degree of uncertainty as the countdown begins for the new tariffs, set to take effect tomorrow.
In the realm of equities, Leonardo emerged as a notable performer, surging by 7.4%.
The financial sector also showed substantial growth, with Unipol rising by 6.7% and Fineco increasing by 5.3%.
Other banks, including Banca Popolare di Milano (BPM) and Intesa Sanpaolo, recorded gains of 2.5% and 2.4%, respectively, despite the day's overall volatility.
Conversely, only Stellantis and Eni registered losses, declining by 0.8% and 1.3%, respectively.
On the foreign exchange front, the euro was trading at 1.0915 against the dollar, down from 1.0924 at the previous day's close.
The euro also exchanged for 160.45 Japanese yen, compared to 161.11. The dollar/yen exchange rate stood at 146.97, down from 147.33.
Oil prices continued to exhibit weakness, with West Texas Intermediate (WTI) crude oil priced at $60.5 per barrel, a decrease of 0.3%, and Brent crude at $63.9 per barrel, down by 0.5%.
Natural gas prices fell to €36 per megawatt hour, a 2.5% decline.
Gold regained some value, trading above $3,000 at $3,009, reflecting a 0.9% increase, while Bitcoin experienced a slight drop, trading at $78,368.1, down 0.2%.
The FTSE MIB in Milan rose by 2.4%, regaining the threshold of 34,000 points after fluctuating during the trading day.
Investor sentiment is being buoyed by indications of potential negotiations regarding tariffs, particularly in light of the unpredictable trade policies of the Trump administration.
This optimism is reflected in developments across both the European and U.S. markets, where indices are also recovering.
Scott Bessent, U.S. Treasury Secretary, indicated in an interview that 'at some point, the president will be ready to negotiate.' He also mentioned that around 70 countries are prepared to engage in discussions with the United States regarding trade.
Furthermore, a diplomatic dialogue was reportedly initiated by Japanese Prime Minister Shigeru Ishiba, and there is a consensus in Brussels that negotiation remains the preferred approach, although they have cautioned that countermeasures are still an option.
In a related context, U.S. President Donald Trump has expressed expectations of a call from Beijing, despite previously threatening additional tariffs of up to 50%, signaling a possible softening of the stance towards China.
The situation remains fluid, with a high degree of uncertainty as the countdown begins for the new tariffs, set to take effect tomorrow.
In the realm of equities, Leonardo emerged as a notable performer, surging by 7.4%.
The financial sector also showed substantial growth, with Unipol rising by 6.7% and Fineco increasing by 5.3%.
Other banks, including Banca Popolare di Milano (BPM) and Intesa Sanpaolo, recorded gains of 2.5% and 2.4%, respectively, despite the day's overall volatility.
Conversely, only Stellantis and Eni registered losses, declining by 0.8% and 1.3%, respectively.
On the foreign exchange front, the euro was trading at 1.0915 against the dollar, down from 1.0924 at the previous day's close.
The euro also exchanged for 160.45 Japanese yen, compared to 161.11. The dollar/yen exchange rate stood at 146.97, down from 147.33.
Oil prices continued to exhibit weakness, with West Texas Intermediate (WTI) crude oil priced at $60.5 per barrel, a decrease of 0.3%, and Brent crude at $63.9 per barrel, down by 0.5%.
Natural gas prices fell to €36 per megawatt hour, a 2.5% decline.
Gold regained some value, trading above $3,000 at $3,009, reflecting a 0.9% increase, while Bitcoin experienced a slight drop, trading at $78,368.1, down 0.2%.
Translation:
Translated by AI
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