(Alliance News) - Major European stock markets are down on Tuesday as investors return from the Easter break amid renewed concerns about trade tensions, the economic outlook, and the independence of the Federal Reserve.
President Trump has stepped up his criticism of Fed Chairman Jerome Powell, increasing pressure on the central bank to cut interest rates and fueling new concerns about its independence.
Meanwhile, trade negotiations between the US and other countries over tariffs continue. Investors are also closely watching this week's IMF spring meetings, during which the Fund is expected to release an update on the global economic outlook.
As a result, the FTSE Mib is down 0.9% at 35,663.89 points.
Among European stock markets, the FTSE 100 in London is down 0.1%, the CAC 40 in Paris is down 0.8%, while the DAX 40 is down 0.5%.
The Mid-Cap is down 0.8% at 47,401.72, the Small-Cap is down 0.4% at 27,786.82, and the Italy Growth is up 0.2% at 7,550.78.
On the Mib, Stellantis is off to a good start, up 0.8% to EUR7.67 per share, echoing Thursday evening's 0.8% gain.
Hera also advanced 0.8%, after falling 0.1% in the previous session.
Intesa Sanpaolo opened just above par at EUR4.36 per share. It should be noted that Goldman Sachs raised its target price on the stock to EUR5.60 from the previous EUR5.50.
Prysmian, on the other hand, fell 3.1%, after a 0.5% gain in the previous session.
Inwit, up 1.5%, announced on Tuesday that it will launch a first tranche of share buybacks for a maximum of EUR 300 million and a maximum of 139.8 million shares as part of its EUR 400 million buyback program.
On the second tier, Garofalo Healthcare rose 2.3%, its fourth session on the upside.
Newlat Food also gained 1.9% after falling 1.4% in the previous session.
Selling was widespread, including Ariston Holding, which is down 3.5% to EUR3.50 per share, in its third session of decline.
WIIT is down 2.9% in its third session as a bear.
On the Small-Cap market, Dexelance is up 4.2% to EUR8.76 per share, after two sessions of decline.
Bastogi also got off to a good start, rising 2.7% to EUR0.6880, after a double-digit gain of over 12% in the last session.
Softlab saw heavy selling, falling 14% after losing 9.9% in the previous session.
SS Lazio fell 3.9% to EUR0.7960, after a 2.2% gain in the previous session.
Among SMEs, Gismondi 1754 advanced by over 11%, after a 2.4% gain in the previous session.
Convergenze rose 3.0% to EUR1.72 per share.
Green Oleo fell 2.5%, following on from the previous session when it lost 1.8%. The stock, which is trading at EUR0.78, updated its 52-week low to EUR0.76 during trading.
In New York, the Dow Jones closed the last session down 2.5%, the Nasdaq lost 2.6%, while the S&P 500 left 2.4% on the floor.
In Asia, the Hang Seng is up 0.3%, the Shanghai Composite has gained 0.3%, while the Nikkei closed down 0.2%.
Among currencies, the dollar is weak, with the euro advancing to USD 1.1534, while the pound is up to USD 1.3413.
Among commodities, Brent crude is up at USD 67.00 per barrel, while gold is trading higher at USD 3,479 per ounce.
Monday's macroeconomic calendar features a speech by Fed member Jefferson at 1500 CEST. Also from the Fed, Kashari will speak at 2000 CEST. At 2230 CEST, weekly oil inventory data will be released.
By Maurizio Carta, Alliance News reporter
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