European stock markets negative, Milan is the exception

The 90-day trade truce between Washington and Beijing, in effect from today, does not excite European markets, which close down with the exception of Milan: +0.70%. Paris and Frankfurt lose half a percentage point while London -0.27%. Supporting Piazza Affari are the financial sector and utilities: Unipol, +2.8%, Azimut +2.3%, Unicredit +1.9% A2a +2.12%. Recordati -2.7% and Diasorin -1.99% are doing badly.

Government bonds are in the spotlight, the spread - the difference between Italian BTPs and German Bunds - reached 100 points this morning, the lowest since September 2021, before closing at 101 basis points, with the 10-year yield at 2.70%.

Both Brent oil prices fell to $66 a barrel, as did gold prices to $3,180 an ounce.