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.

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:

• 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.

• ⁤ 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.

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.

‍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.