European Markets Mixed Amid‌ Trade War Uncertainty

​ European stock markets presented a mixed performance ⁤Thursday as investors grappled ​with ⁣ongoing uncertainty surrounding trade‌ negotiations between the ⁣United States ⁤and China. Milan’s ⁤FTSE MIB showed gains, while⁣ other major European ​indices fluctuated.
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Trade Tensions Weigh on Sentiment

Hopes for a resolution to⁣ the trade dispute between the⁢ world’s‌ two largest economies were tempered by conflicting signals. China’s ‍Ministry of Commerce refuted claims ​of ongoing negotiations with the U.S., countering ⁣earlier ⁢suggestions by⁣ U.S. President⁣ Donald Trump⁤ that a trade agreement was within ⁤reach.

“Any ⁣statement concerning progress in the Sino-American discussions is⁣ pure speculation and​ is not based ⁤on concrete facts,” said⁣ He Yadong, spokesman for the⁤ Chinese Ministry of Commerce, during a‍ press ‌conference.

Economic Data Adds to Concerns

Adding to the cautious mood, the U.S. economic outlook ⁣was clouded by⁤ the Federal Reserve’s Beige Book, wich highlighted the negative‌ impact of tariffs⁤ on the American economy.

Market Performance Overview

‌ As of midday⁢ trading:
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• ‌ Milan’s FTSE MIB traded above parity.
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• ​ Paris’ ‌ CAC 40 ⁢showed gains.

• ⁣ Madrid’s IBEX 35 was up.
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• ‌ Amsterdam’s AEX traded positively.
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• ⁤ London’s ​ FT-SE 100 saw gains.
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• ​ Frankfurt’s DAX 30 ⁣ was in negative territory.

The‌ DAX’s decline came ⁤despite the German IFO index‌ for April rising to‌ 86.9 points, up from 86.7 in march and exceeding expectations ⁤of a drop to 85.2. Though, the German​ government⁢ recently‍ lowered its‍ growth forecasts.
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Wall Street futures point ‍to Lower Open

⁢ ⁣U.S.⁢ stock‍ futures indicated a weaker opening ⁣on Wall⁤ Street, following gains⁤ in⁤ the⁤ previous two sessions ⁢driven by hopes of easing trade tensions and reassurances from President ‌Trump regarding the Federal Reserve Chairman Jerome Powell.
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‍Recent U.S. economic data revealed an increase of 6,000 in initial jobless‍ claims, exceeding estimates. The Chicago‌ Fed index, ⁤measuring ⁣manufacturing⁣ activity, fell into negative territory, while durable goods orders jumped 9.2% ‍in March,surpassing expectations of​ a 1.6% ‌increase.
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​ Shares of IBM ​declined despite better-than-expected revenue and quarterly profits, along with confirmed ‍full-year guidance.Comcast also experienced⁣ a drop ​in share ⁢price ⁣despite a strong quarterly⁣ performance, attributed to ‍a decline‍ in cable TV subscribers.

Germany Anticipates⁢ Economic Stagnation

‍ The ⁢German government now forecasts economic stagnation for 2025, ‍revising its previous estimate of 0.3% growth due‌ to the impact of trade disputes initiated by the U.S.

“American commercial policy, the threat and imposition of customs duties directly affect⁢ the​ German economy, which is very oriented⁢ towards ⁣exports,” stated Robert Habeck, Minister of Economy ⁣and ⁢Climate, during the presentation of the government’s spring forecast.

Corporate Earnings in Focus

⁤The quarterly earnings season continues both in Europe and the U.S., with Alphabet (Google’s parent company) scheduled ‍to ‍report earnings later today, April 24.

​Key ⁢movements ⁤in Milan’s Piazza Affari included:
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• Stmicroelectronics: ‌Shares rose despite a notable drop in first-quarter profit (-89.1% to $56 million) and revenue (-27.3% to $2.517 billion).The positive reaction was attributed to results aligning with forecasts and expectations of a recovery in⁤ the second half of the year.
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• Saipem: The company reported an increase in profits (+35% to 77 million) and a⁤ strong order book of 33⁢ billion, exceeding⁤ expectations.
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• Eni: announced an adjusted‌ EBIT of 3.68 billion (-11%) due to lower oil prices and an⁤ adjusted net profit of 1.4⁢ billion.
• Generali: Held its shareholders’ ⁣meeting⁣ for the renewal of the board, confirming the victory of the Mediobanca​ list and the‌ confirmation of CEO​ Philippe Kminit.

• ‌ Banks: generally performed well, with ‌ MPS Bank in the lead.

• ‍ Industrials: Prysmian and Buzzi Unicem showed positive​ performance.

• ⁤ Luxury Sector:​ Moncler and Brunello​ Cucinelli lagged, ⁢impacted by trade⁣ tensions and the recent decline in revenues reported by‌ Kering.