Today’s stock markets, April 4th. Investors cautious awaiting rate cuts. The ECB could move before the Fed. “The date becomes visible”

Milan flat after the positive start on Wall Street

The stock market remained stagnant in the afternoon, without benefiting from the positive start on Wall Street. The Ftse Mib index marks -0.05% at 34,464 points. Piazza Affari is moving cautiously after Wednesday’s rise, awaiting confirmation from the central banks after yesterday Federal Reserve President Powell reiterated that more evidence is needed on the decline in inflation and that the US central bank will take its time necessary to reflect on the right timing of the next rate cut. Meanwhile, the weekly report on requests for benefits shows an increase of 9 thousand units, while the monthly report from the Department of Labor is expected tomorrow. On the macro front in Europe, good results from the services and composite PMI index, results expanding above estimates beyond the threshold of 50 points. The eurozone economy thus concludes a sequence of consecutive monthly contraction that began last June. The third consecutive month of net growth in eurozone employment was also recorded thanks to the continued recovery of confidence in the economy. Among the individual countries, Italy and Germany performed well, while France decreased. Financial stocks are doing well on the list, apart from Fineco which lost 0.8% after yesterday’s jump of 5.9%. Poste performed well (+1.5%) after the positive opinion of the parliamentary commissions of the Chamber and Senate on the continuation of the partial privatization process. Azimut is also up (+2.3%) after the sale of American Kennedy Lewis. Energy is recovering, with Enel +1.1%, Eni +0.9%, Hera +0.5%.
Negative banks with Popolare Sondrio dropping 2.4%, Bper -0.5%. Among the other blue chips, Tim lost 1.5% today, luxury down with Cucinelli -1.3%, Moncler -0.8%, Ferrari -0.5%. Stm, Iveco good, Interpump, Diasorin, Amplifon, Saipem down.