European stock markets open lower amidst tariff concerns. Gold's record surge

The European stock markets opened lower, influenced by the uncertainty surrounding the tariffs imposed by the Trump administration. Following the weak performance of the previous session and the negative trend in Asian markets and Wall Street, investors are increasingly turning towards safe-haven assets, with gold reaching new record highs. The ongoing fears of an intensification of the global trade war and the upcoming implementation of reciprocal tariffs, unless President Trump reverses, have pushed investors to favour assets like gold. Trump has also threatened Europe and Canada with new tariffs in case of bilateral agreements. Despite these concerns, investors remain hopeful that these measures will be temporary. Attention is also focused on U.S. inflation, particularly the Personal Consumption Expenditures (PCE) index, a key indicator the Federal Reserve uses to guide its monetary policy decisions.

At the same time, gold continues its ascent, hitting a new peak with spot contracts reaching $3,084 per ounce (+0.9%) and futures rising to $3,122 (+1%). The uncertainty surrounding tariffs and fears of economic turmoil drives investors toward safe-haven assets, contributing to the rise in gold’s value. Ferrari: +2,66% Italgas: +2,24% Inwit: +1,66% Enel: +1,25% A2A: +1,18% Terna: +1,18% Snam Rete: +1,20% Campari: +1,12% Amplifon SpA: +0,18% Hera SpA: +0,80% Stellantis NV: +0,20% Recordati: +0,19% Poste Italiane: +0,30% Tenaris: +0,30% Nexi: +0,19% Interpump Group: +0,12% Assicurazioni Generali: +0,06% Telecom Italia: +0,41% Buzzi Unicem: +0,04% DiaSorin: -0,47% Eni: -0,39% Azimut: -0,04% Banca Mediolanum: -0,13% Brunello Cucinelli: -0,55% Mediobanca: -0,36% BCA MPS: -0,36% Unipol Gruppo: -0,39% Prysmian: -0,89% STMicro: -0,92% Leonardo: -0,73% Saipem: -0,32% Intesa Sanpaolo: -0,86% FinecoBank: -1,25% Banco Bpm: -1,23% Iveco: -0,85% Pirelli & C: -1,29% UniCredit: -1,39% Banca Popolare di Sondrio: -1,46% Bper Banca: -1,59% Moncler: -1,77%.

Ph. by Steve Bidmead, Pixabay