European stocks close lower, London summit fails to convince markets

The first news coming from the London summit between Chinese and American representatives on the subject of duties does not seem to convince the European stock markets, which close down at the lows of the day. Milan at -0.35%, Paris at -0.17%, the heaviest is Frankfurt which touches -0.6% while London is just below parity.

Among the individual stocks on Piazza Affari, STMicroelectronics continues to run, gaining almost 3%; it is driven by the fact that among the points on which trade negotiations seem to be advancing are precisely semiconductors and rare earths.

Wall Street remains mixed, with the Dow Jones index falling and the S&P 500 and Nasdaq cautiously rising. Here too, investors are waiting for clearer stimulus, starting with the data on inflation in the United States due on Wednesday. Reassurances on the trade front are still too vague, especially because the consequences of this forced stalemate for investments and strategic plans of companies are not yet clear and quantifiable.

Meanwhile, on the exchange front, the dollar remains weak against the euro. The single European currency is also trading steadily above 1.14 today.