Donald Trump's tariff threats against EU countries that are blocking his bid to annex Greenland are sending European stock markets into the red.
At midday on the Milan Stock Exchange , the FTSE MIB lost 1.53% . Paris (-1.57%) and Amsterdam (-1.59%) fared no better. Frankfurt lost 1.39%, with only London limiting its losses to 0.56%.
Among Milan's leading stocks, Leonardo (+2.2%) gained ground, buoyed along with the entire defense sector by the renewed rise in geopolitical tensions. Also above par were Inwit (+1.22%), MPS (+0.46%), Hera (+0.28%), and Snam (+0.17%). StMicroelectronics (-4.9%), on the other hand, is among the stocks most susceptible to profit-taking in the event of increased risk aversion, following the recent surge in tech stocks. Amplifon (-4.43%), Brunello Cucinelli (-2.65%), and Ferrari (-2.4%) all fell.
On the currency market, the dollar slipped to 1.1629 against the euro from 1.1598 at the close on Friday. The greenback also settled at 157.95 yen (from 158.08), while the euro/yen exchange rate was at 183.64 (from 183.33).
On the energy front, oil prices are losing ground, with March WTI crude at $59.02 a barrel (-0.71%) and Brent crude at $63.75 (-0.59%). Gold and silver hit new records, with spot deliveries of the yellow metal up 1.47% to $4,663 an ounce and silver up more than 5% after a new high of $94.08 . Bitcoin fell 2.1% to $93,100, having also fallen below the $92,000 mark overnight.
(Unioneonline)